OptiBiotix Health Share News (OPTI)

(Sharecast News) - Life sciences company OptiBiotix Health has entered into a non-exclusive license agreement for its 'SlimBiome' trademark with Smart For Life, it announced on Monday, and the launch of cookies containing its SlimBiome proprietary weight management technology in the United States and Canada.
The AIM-traded firm said the license was contingent on an annual minimum order quantity, and a first order within 30 days of signing the agreement.

It said Smart For Life is a US-based company founded in 2002 by bariatric doctor, Sasson Moulavi.

It said the company develops and sells scientifically-formulated weight management products that balance fibre, protein and complex carbohydrates to help naturally suppress appetite, and works with "scientifically-backed" natural ingredients.

OptiBiotix called the license agreement "another commercial strategic step" to facilitate customer access to its SlimBiome technology, as the Smart For Life cookies would be available online, at Walmart in the US and at Costco in Canada.

"We are very pleased to have signed an agreement with Smart For Life to use our award-winning weight management technology and related trademark to market and commercialise products containing SlimBiome in the US and Canada," said Dr Fred Narbel, managing director of OptiBiotix's prebiotics division.

"Smart For Life are an ideal partner because they understand the science behind SlimBiome and are able to explain the value proposition clearly to their customers and distributors.

"Moreover, this commercial launch builds on the manufacturing agreement signed with Agropur to produce SlimBiome in North America as it provides Smart For Life with a local source of supply."

At 1409 BST, shares in OptiBiotix Health were down1.79% at 55p.