(Alliance News) - OptiBiotix Health PLC on Monday said its subsidiary ProBiotix Health Ltd has signed a distributor agreement with Advanced NutriSolutions Inc for the exclusive sales of LPLDL.
LPLDL is a probiotic strain intended to reduce cholesterol and blood pressure.
Advanced NutriSolutions - which also trades as Select Ingredient - is a US company that supplies nutritional ingredients, contract manufacturing services, and finished products to the nutritional supplement industry.
The agreement will see Advanced NutriSolutions supply LPLDL under an exclusive licence, to customers in the US and Canada for inclusion into dietary supplements. Market exclusivity is linked to a six month time to first order and sales volumes, OptiBiotix noted.
"We are pleased to announce this distributor agreement which will expand LPLDL's reach and service level in the US and Canada. Advanced NutriSolutions Inc/Select Ingredient have technical expertise in functional ingredients including probiotics. Their manufacturing capabilities allows them not only to sell LPLDL as an ingredient, but to also create custom formulation and products for customers," said ProBiotix Chief Executive Steve Prescott.
The stock was trading 3.3% higher at 66.60 pence each on Monday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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OptiBiotix Health (OPTI)