OptiBiotix Health PLC (LON:OPTI) said it has extended the terms of its original exclusive licence agreement for OptiBiome with OptiPharm Pty Ltd, as announced on March 31, 2020, to now include Europe.
The life sciences business, which is developing compounds to tackle obesity, high cholesterol, diabetes and skincare, said the terms of the exclusive licence agreement originally granted OptiPharm exclusive use of the OptiBiome trademark in Australia, parts of Asia, New Zealand, Middle East, Gulf States and North America. The company added that market exclusivity remains linked to minimum order quantities.
In a statement, Dr Fred Narbel, managing director of OptiBiotix’s prebiotics division commented: “We are very pleased to announce the extension of terms for OptiPharm as it strengthens the commercial relationship between both companies. It is also another important commercial step in bringing OptiBiotix’s patented and award-winning, scientifically formulated functional ingredients to global markets with Australia’s #1 weight management brand.”
OptiPharm is a privately owned Australian company and has currently been operating for 24 years. It specialises in weight management, nutrition and infant formula, and their products are produced in state of the art Australian manufacturing facilities that are GMP-qualified and HACCP-certified.
Garry McDonald, managing director of OptiPharm, added: “We will shortly be releasing a new range of Optislim products which will include Optibiotix’s patented ingredient for weight management and are delighted that Optibiotix has agreed to an extension of terms that provides unrestricted access to additional international markets.”
OptiPharm’s flagship brand, Optislim is the number one Australian weight management brand incorporating shakes, soups and bars available as total (very low-calorie diet) or partial (low-calorie diet) meal replacements.
Published at Wed, 05 Aug 2020 07:30:00 +0000-OptiBiotix Health extends terms of its original exclusive licence agreement for OptiBiome with OptiPharm to include Europe