OptiBiotix Health PLC – Agreement with global corporate for SweetBiotix®
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol and diabetes, announces that it has entered into an agreement with a global corporate for its SweetBiotix® low calorie sweet fibres. The agreement sets out the terms and grants exclusivity, for a period of six months, to negotiate a license agreement for the scale up, manufacture and distribution of its SweetBiotix® low calorie sweet fibres. OptiBiotix will receive monthly payments during this exclusivity period amounting to a six figure sum.
OptiBiotix has previously announced (RNS: 27 March 2018) that it has carried out five successful human taste studies on a range of products developed from its SweetBiotix® development programmes. This has created interest from a number of corporates with expertise in the manufacture and commercialisation of speciality ingredients and/or consumer products. This agreement reflects the materialisation of interest from one of these companies in scaling up, manufacturing and distributing SweetBiotix® from one of its development programmes.
The company is a global supplier of nutritional and agricultural products to companies around the world with an annual turnover exceeding $100bn. The organisation requires its identity and the terms of the agreement to remain confidential and no further details can be disclosed. A further announcement will be made in due course.
Stephen O’Hara, CEO of OptiBiotix, commented: “We are pleased to announce the signing of this agreement for SweetBiotix® with one of the world’s largest suppliers of nutritional and agricultural products. This is the second agreement with global partners for products created from our SweetBiotix® development programmes. This is part of a strategy of working with global partners to support scale up, manufacture and commercialisation of a range of SweetBiotix® products in well-known consumer brands. With international concerns over the balance of sugars and fibres in consumer diets rising, OptiBiotix’s is at the forefront of product development in this area of growing industry and commercial interest.”