Last checked at (Sharecast News) - OptiBiotix Health has entered into a distribution agreement for its 'SlimBiome' product with Maxcare, it announced on Monday.
The AIM-traded firm said the agreement grants Maxcare exclusive rights to commercialise the SlimBiome proprietary weight management technology in Taiwan.
It described Maxcare as a Taiwanese company, based in Taipei and founded in 2000, which specialises in clinically-supported, science based nutraceuticals, fruit and botanical extracts.
Maxcare's ingredients reportedly span a wide range of application areas, with an existing distribution network and experience in commercialising weight management ingredients.
OptiBiotix said market exclusivity would be linked to minimum sales targets being achieved.
"We are pleased to have signed an agreement with Maxcare to commercialise our award-winning weight management technology in Taiwan," said business development manager Thomas O'Hara.
"We chose Maxcare due to their experience in commercialising weight management ingredients and their understanding of the value proposition SlimBiome provides to their customers.
"Having a trained team of registered dieticians that can provide technical support allows them to clearly convey the benefits and value SlimBiome can add to a range of products."
O'Hara said Maxcare has placed an initial trial order on signing the agreement, as a result of early interest received from introducing SlimBiome to their customers.
"We look forward to continuing the current trajectory of SlimBiome and increasing the countries, applications, products, revenues and overall global brand value in the months and years ahead."
At 1615 BST, shares in OptiBiotix Health were down 2.86% at 54.4p.
22 Sep 2020 10:05
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