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OptiBiotix And HLH Update Pact To Include Exclusive German Licence

Fri, 15th Mar 2019 12:10

LONDON (Alliance News) - Life sciences company OptiBiotix Health PLC on Friday said it has extended its existing supply agreement with HLH BioPharma Vertriebs GmbH to include an exclusive licence in Germany.

Under the new three-year agreement, HLH has obtained the right to package, produce, and commercialise a capsule product that contains OptiBiotix's cholesterol-reducing LPLDL strain in Germany.

In order to maintain this exclusivity HLH must meet its order volume commitments, which double every year for the next three years.

HLH also has a non-exclusive license to package, produce, and commercialise LPLDL-containing product in Austria, Switzerland and United Arab Emirates.

Outside of the territories named above, HLH is restricted from promoting, selling, or exporting products that incorporate LP LDL.

OptiBiotix Chief Executive Stephen O'Hara said: "We are pleased to announce this extension of terms and territory with HLH who are one of Europe's leading suppliers of probiotics to the pharmacy market. The agreement recognises the success of HLH in building sales of its LPLDL containing Lactobact brand in Germany and extends the terms and territory to support further sale growth.

"This is another step in extending the geographical reach of LPLDL as it builds recurring revenue streams and increases brand recognition, and the value of its products. This is part of a strategy which allows OptiBiotix to present customised product solutions through its partners to consumer health, pharmaceutical and retail companies around the world."

Shares in OptiBiotix were up 1.8% at 85.00 pence on Thursday.

By Anna Farley;

Copyright 2019 Alliance News Limited. All Rights Reserved.

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