RE: Positive RNS27 Feb 2024 19:24
Evening all
a positive step forward indeed and further improvement on the last rns only c 3 weeks ago
https://www.optibiotix-ir.com/content/news/archive/2024/300124
a reminder from May 2023 presentation and deals signed - albeit nothing since on dsm-firmenich % royalty, as far as i'm aware, unlike US partner
SweetBiotix: A portfolio of sweet low-calorie fibres created by combining prebiotic functional fibres and modified mogrosides or steviol glycosides in a single enzymatic step
Commercial Status:
i. Manufacturing agreement signed with US partner September 2020 for mogroside product
i. Scale up optimization completed/optimised products received December 2022 as liquid, freeze dried in May
ii. Partner taste testing confirms product acceptability. Analytical testing and structural analysis underway
iii. Structural analysis underway to determine novelty and the regulatory pathway
iv. Independent peer reviewed publication confirms sweetness and prebiotic functionality highlighting health benefits – start of marketing
v. Six figure annual milestone paid during scale up plus six figure launch milestone
vi. Royalties 5% plus a further 5% on 11 named companies( Kelloggs, Nestle, Coca Cola ,Firmenich, Tereos, Cargill, Arla ,Tate and Lyle, Agropur, Givaudan, Tata)
ii. Agreement signed with Firmenich July 2022 for stevia glycoside product
i. Manufacturing agreement signed and project progressing rapidly
ii. Manufacturing scale up underway, product produced and tested, process optimization underway to enhance yield
iii. Payments: Six figure payment per market approval (USA/Europe/Asia) - potential H2 2023/H1 2024
iv. One off six figure milestone when reaching $5m and $12m sales plus royalties on all sales
Next Steps:
Structural and functional analysis, regulatory approvals, partner application development and launch discussions
which more or less is noted in
https://www.optibiotix-ir.com/content/news/archive/2023/190723
mol