OptiBiotix Health Share News (OPTI)

(Sharecast News) - Life sciences business OptiBiotix Health has entered into three new exclusive distribution agreements, it announced on Friday, in a bid to extend the global reach of its 'SlimBiome' and 'GoFigure' products.
The AIM-traded firm said the first deal was with Extensor - its exclusive partner in Poland for distributing its GoFigure product range.

It said it signed a further agreement, granting Extensor exclusive rights to distribute SlimBiome in Poland for a period of 12 months, with continued exclusivity subject to a performance review.

The agreement recognised the successful launch of GoFigure products containing SlimBiome into the Polish market, the board explained, and would allow Extensor to extend the use of SlimBiome into its own range and partner products.

OptiBiotix said the second agreement was an exclusive distribution deal with Epic Ingredients, to distribute SlimBiome in Malaysia and Singapore.

That exclusivity would be subject to minimum order quantities, and a requirement to place a first order within four months of signing the agreement.

Epic Ingredients was incorporated in 1998 as a pharmaceutical service company, with a registered office in Malaysia, the board explained.

It said its focus was on the distribution of active pharmaceutical ingredients, excipients and nutraceutical raw materials providing complete distribution and warehousing facilities.

Finally, the third agreement was for exclusive distribution with Supplemed Solution - a subsidiary of Epic Ingredients, to distribute OptiBiotix's own label GoFigure consumer weight management products in Malaysia and Singapore.

Again, exclusivity would be subject to minimum order quantities and a requirement to place a first order within four months of signing the agreement.

OptiBiotix said the Supplemed subsidiary of Epic Ingredients focussed on the import and distribution of nutraceuticals backed by human studies.

The board said the three agreements were another step in extending the geographical reach and sales of both SlimBiome and SlimBiome-containing products such as GoFigure.

It said the deals were consistent with its strategy of increasing the number of geographies and applications SlimBiome was used in both as an ingredient, and within GoFigure own-brand and partner white label brands, building revenue and brand recognition.

The directors added that the agreements for Malaysia and Singapore arose from the publicity and interest generated from 'SlimBiome Medical' winning the NutraIngredients award for 'Best Weight Management Ingredient of the Year' for Asia in 2019.

"We are pleased to announce this extension of our partnership with Extensor to service the Polish market," said Dr Fred Narbel, managing director of OptiBiotix's prebiotics division.

"They have proven to be a very reliable commercial partner and have recently placed a second order for GoFigure branded products to replenish their stocks.

"This agreement recognises the early success of Extensor in selling GoFigure products in Poland and extends the agreement to SlimBiome as an ingredient to support further sales growth."

Dr Narbel said the company was also pleased with its partnerships with Epic Ingredients and its subsidiary Supplemed to service the Malaysian and Singaporean markets.

"These are important as they show the value of the awards the company has won over the past two years.

"It is important to note that these three agreements are for an initial period of one year and include sales targets to retain exclusivity."

At 1350 GMT, shares in OptiBiotix Health were down 3.92% at 49p.