RE: RNS15 Sep 2020 10:15
missed this initially, major news. didnt light up as an RNS on my screen.
ue, 15th Sep 2020 07:00
RNS Number : 9489Y
OptiBiotix Health PLC
15 September 2020
OptiBiotix Health plc
("OptiBiotix")
SweetBiotix® sweet fibres agreement
Manufacture and commercialisation deal signed with US company
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high
cholesterol and diabetes announces that it has entered into an agreement with a US company ("the US Company") for the purpose of large scale manufacture and commercialisation of a number of SweetBiotix® products.
The agreement grants the US Company an exclusive worldwide license in return for it bearing the costs relating to product manufacturing, marketing, and all future costs relating to the commercialisation of a number of SweetBiotix® products.
OptiBiotix will receive a modest six-figure payment from the Company on signing the agreement and at 12 monthly intervals until product launch. Additional similar payments will be due on product launch plus royalties on all future product sales. Enhanced royalty payments will be made to OptiBiotix on sale of SweetBiotix® products by the Company to 11 application/innovation partners with whom OptiBiotix has been in long term discussions regarding exploring the use of SweetBiotix® products in dairy, cereal and beverage applications.
The US Company requires its identity and certain commercial terms of the agreement to remain confidential to protect its commercial launch plans.
Stephen O'Hara, CEO of OptiBiotix, commented: "We are pleased to announce this agreement for SweetBiotix®, a family of products based on the concept of creating a sweet fibre with a low glycaemic index which enhances the microbiome. The agreement allows the US Company to invest in the large scale manufacture and commercialisation of a number of SweetBiotix® products in return for upfront, annual and product launch milestone payments, plus royalties on all future product sales.
"With concerns over the amount of sugar and lack of fibre in consumer diets creating high levels of diabetes and obesity, this agreement brings closer the prospect of replacing 'unhealthy' sugars with healthy sweet fibres which contain no calories and improving microbiome diversity and the benefits of SweetBiotix® technology to a global audience."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information, please contact:
OptiBiotix Health plc
www.optibiotix.com
Stephen O'Hara, Chief Executive
Contact via Walbrook below
Cairn Financial Advisers LLP (NOMAD)
Tel: 020 7213 0880
Liam Murray / Jo Turner / Ludovico Lazzaretti
finnCap (Broker)
Tel: 020 7220 0500
Geoff Nash/Kate Bannatyne (Corporate Finance)
Walbrook PR Ltd
Tel: 020 7933 8780 or optibiotix