OptiBiotix enters new licensing deal with HiLife Vitamins
By Josh White
Date: Tuesday 22 Sep 2020
(Sharecast News) - Life sciences company OptiBiotix Health has entered into a non-exclusive license agreement for 'SlimBiome Medical' with HiLife Vitamins & Herbs, it announced on Tuesday.
The AIM-traded firm said the agreement granted HiLife non-exclusive rights to commercialise the SlimBiome Medical proprietary weight management product in the United States.
It said the signing of the agreement would be subject to the placing of a trial order and a six month period, after which both parties would discuss the terms of the agreement to explore online exclusivity for the US.
Those discussions would follow a review of sales performance over the period, with any subsequent exclusivity agreed to be linked to minimum order quantities.
Discussions to explore the manufacturing of SlimBiome Medical locally in the US would also take place, with the aim of reducing logistical and import costs as volumes increase.
The OptiBiotix board said the deal was another strategic step to commercialise its technology on an international stage in a major market.
"We are pleased to have signed an agreement with HiLife to commercialise our award-winning weight management technology in such a large and key market for weight management products," said business development manager Thomas O'Hara.
"HiLife contacted us expressing an interest in our product portfolio underlining the recognition and reputation OptiBiotix is establishing in major markets."
At 0854 BST, shares in OptiBiotix Health were down 2.33% at 50.3p.
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