Sweetbiotix - Summary of Announcements 202419 Sep 2024 16:34
30 January 2024
The Company can report significant progress by both partners in the commercial scale production of SweetBiotix®, in line with the Company’s hopes and expectations, with final product taste tested and accepted by our US partner. Expert panel testing of the scale manufactured product has shown comparable taste and texture when compared to the laboratory product. Manufacturing scale up with Firmenich slowed during and after their merger with DSM, as anticipated, but resumed in late autumn 2023 as Firmenich moved manufacturing scale up from its contract manufacturer to DSM’s in-house manufacturing facilities. Ongoing discussions indicate strong partner support on increasing the anticipated scale of production and supply given the enlarged group, DSM-Firmenich, now have access to global manufacturing and distribution capability.
Given recent progress, the Company’s focus has moved on from manufacturing scale up to engaging with commercial partners to launch products. Discussions are ongoing but are likely to involve a phased introduction of SweetBiotix® products as a direct bulk sugar substitute and then introduced into OptiBiotix’s and partners consumer products across an increasing range of applications. With growing consumer and industry concerns over traditional sugars and sweeteners, the Company is in a strong position to exploit its low calorie, high fibre SweetBiotix® products as a safe, natural and healthy alternative to sugar and sugar substitutes.
Stephen O’Hara, CEO of OptiBiotix, commented: “Consumer concerns over sugar and the safety of several sugar substitutes have materialised into companies reformulating existing and/or launching new products containing natural, safe, and healthy alternatives. The Company believes its sweet, high fibre, low calorie, prebiotic fibre SweetBiotix® products are ideally positioned to launch at a time when many companies are actively looking for a natural alternative to meet this need. SweetBiotix® are unique in being classified as dietary fibres creating the opportunity to replace unhealthy calorific and cariogenic sugars, or sugar substitutes with healthy fibres in a wide range of food and beverage products or as a sugar replacement in its own right.
“The Company has developed novel science, protected its commercial interests with a broad IP portfolio, has SweetBiotix®’s taste and texture and/or health potential confirmed independently by industry partners and in academic publications, and formed partnerships with a number of industry partners. These include DSM-Firmenich who have specialist expertise in taste and texture, manufacturing capability, and a global distribution network. Our US partner has shown SweetBiotix® can be manufactured to scale. Given the size of the challenge and considering the food industry is dominated by large global players with significant R&D capabilities this is a significant achievement for OptiBiotix.
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