RNS6 Jul 2020 08:11
06 July 2020
Opti B i otix Health plc
( "Opti Bi o t ix" or the "Company")
Extension of terms for WellBiome(R)
OptiBi otix Health p lc (AI M : OPTI), a life sciences busi ness d e vel o ping co m p o u n ds to tack le o besit y, high
choleste r ol, diabetes and skincare, a nn o unces it has extended the terms of its original distribution agreement with CTC Holding BV ("CTC") as announced on 1 October 2018 and subsequent amendment as announced on 28 January 2020.
The agreement extends the product range from the distribution of SlimBiome(R), SlimBiome(R) Medical and GoFigure(R) to include WellBiome(R). The territories remain unchanged with distribution rights in the Philippines, Vietnam, Indonesia, Colombia, the Dominican Republic and Guatemala. The agreement is for an initial period of 18 months from January 2020 with renewal of terms linked to sales targets.
WellBiome(R) is a proprietary blend of prebiotic functional fibres, functional dietary fibres and mineral optimised for health and wellbeing by promoting the diversity of the gut microbiome. WellBiome(R) was launched at the end of June 2020 (RNS: 29 June 2020) in response to commercial partners expressing strong interest in a microbiome modulating ingredient that would expand the commercial opportunity beyond slimming and provide a science based solution to the Health & Wellness industry , a market estimated to be worth US$4.2 trillion in 2019. The agreement with CTC is the first example of a partner transitioning from an expression of interest to a contractual agreement.
Dr. Lars Wiemann, Chief Scientific Officer at CTC, commented: "We see WellBiome(R) as an evolution of SlimBiome(R), that extends the main target from weight loss & hunger control towards improving your gut health and thus your immune health as well as your general health. Recent scientific research has shown that boosting your immune system by improving your gut health is a proven concept. Therefore, WellBiome(R) perfectly fits into CTC's global strategy for health supporting ingredients and we are really happy we can offer this innovative product to our clients now."
Dr. Fred Narbel, Managing Director of OptiBiotix's prebiotics division , c o mmented: " We are pleased to announce the extension of terms for CTC . This agreement recognises CTC's success in building sales of SlimBiome(R) and extends terms to enhance further sales growth, supported by minimum sales targets. This is a first commercial step in bringing our new functional ingredient WellBiome(R) to global markets and building brand awareness."
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