OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, cardiovascular disease and diabetes, announces its results for the six months ended 31 May 2019.
The Company continues to see a strong growth trajectory as it builds momentum in transitioning from a research and development company into a commercial business.
- The award of a CE mark and registration of SlimBiome as a medical device and first product orders in Europe
- The appointment of Zeon Lifesciences Ltd to manufacture and supply OptiBiotix’s SlimBiome weight management technology in India
- The appointment of EIWA Trading Company to import, market and distribute OptiBiotix’s cholesterol and blood pressure-reducing probiotic strain Lactobacillus plantarum LP-LDL in Japan
- The appointment of DKSH International Limited (DKSH), a £9.3bn turnover company to distribute SlimBiome in Italy and Spain
- The appointment of Extensor to import, market and distribute OptiBiotix’s own label GoFigure® products in Poland. This is the start of a strategy to take OptiBiotix’s own label GoFigure® products to international markets to build brand recognition, and create demand for SlimBiome, the functional ingredient within Gofigure® products
- The launching of LP-LDL in pharmacies of El Corte Inglés, Spain’s biggest department store in all of Spain’s major cities, with IENP under the “39ytú” brand
- The recognition of OptiBiotox’s cholesterol and blood pressure reducing Lactobacillus plantarum LP-LDL probiotic strain determined as Generally Recognized As Safe (GRAS). GRAS is a United States Food and Drug Administration (FDA) designation and extends the potential applications of LP-LDL to use as a functional ingredient in food, dairy, and beverage products across the USA
- The award of a licence from the Food Standards and Safety Authority India (FSSAI) to OptiBiotix’s manufacturing partner, Zeon Life Sciences, to manufacture SlimBiome and SlimBiome containing products in India
- An agreement with Nutrilinea Srl to develop a food supplement containing LP-LDL for the reduction of high blood pressure (hypertension). Nutrilinea will cover the cost of all product development, manufacturing and human studies in return for 12 months exclusivity for the European market. ProBiotix has exclusivity for the UK and all other markets outside Europe
- The raise of £1.025 million of capital through the issue of convertible loan notes for OptiBiotix to provide funding for a potential initial public offering of wholly owned subsidiary ProBiotix Health, of which OptiBiotix subscribed £250,000
Post-period end highlights
- Manufacturing, supply and profit sharing agreement with Maxum Foods Pty Ltd
- Manufacturing agreement for Slimbiome with Agropur
- LP-LDL license agreement with Kappa Bioscience AS
- License agreement for LP-LDL in Japan
Stephen O’Hara, CEO of OptiBiotix, commented: “This has been an exciting half year period, with twelve commercial deals signed, six for SlimBiome and six for LP-LDL, making a total of 44 deals since mid-2017. The large number of agreements signed in the last two years demonstrate early commercial progress. The next stage of the process is to ensure these agreements deliver recurring revenue streams to build sales growth in 2019 against a continued low-cost base and create profitable divisions across all areas of the Company.
“We are particularly proud of achieving the CE mark and medical device status for SlimBiome Medical product and GRAS status for LP-LDL which are both significant milestones. As we continue to move towards a commercial business, I would like to thank our shareholders for their continued support and we look forward to an exciting future commercialising our technology in this fast growth area.”