Last checked at 10 Aug 2021 07:00
OptiBiotix Health plc
("OptiBiotix" or the "Company" or the "Group")
Extension of territories for Seed Health's DS-01 product
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, announces that its wholly-owned subsidiary, ProBiotix Health Ltd, has extended the territories of its original agreement (RNS: 22 May 2018) with Seed Health, Inc. ('SeedTM') for the production, promotion, marketing and commercialisation of products containing LPLDL®. The agreement extends the territories from the USA, to include the countries within Europe, Oceania (e.g. Australia, New Zealand etc), and Asia (excluding India) for the supply of LPLDL® in SeedTM's DS-01 product, a multi-strain synbiotic product which contains OptiBiotix's Lactobacillus plantarum LPLDL®. DS-O1 received FDA authorisation for an Investigational New Drug ("IND") in October 2020 (RNS: 2 October 2020) for IBS applications.
SeedTM (seed.com) was co-founded by Raja Dhir and Ara Katz to pioneer the development of next-generation probiotic and live biotherapeutic applications and recently closed a $40m Series A funding round to fund new category launches and international expansion. This agreement supports the SeedTM expansion plans for DS-01 and is another example of OptiBiotix's partners either extending their product range (e.g. Optipharm, Holland and Barrett) or, as in this case, taking existing products into new territories. This extension will contribute to growing the Group's recurring revenue and demonstrates the effectiveness of the Company's strategy of diversifying routes to market through multiple partnership agreements.
Stephen O'Hara, CEO of OptiBiotix, commented: "We are pleased to strengthen our already strong relationship with Seed Health by agreeing this territory expansion for DS-01 to support their ambitious growth plans. This is another example of OptiBiotix's partners extending their product range or expanding existing products into new territories. This helps to grow the existing recurring revenue base and provides a solid foundation on which to build a valuable and sustainable business."
This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
For further information, please contact:
OptiBiotix Health plc | www.optibiotix.com | |
Neil Davidson, Chairman | Contact via Walbrook below | |
Stephen O'Hara, Chief Executive |
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Cairn Financial Advisers LLP (NOMAD) | Tel: 020 7213 0880 | |
Liam Murray / Jo Turner / Ludovico Lazzaretti | ||
Cenkos Securities plc (Broker) | Tel: 020 7397 8900 | |
Callum Davidson / Neil McDonald |
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Michael Johnson / Russell Kerr (Sales) |
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Walbrook PR Ltd | Mob: 07876 741 001 | |
Anna Dunphy |
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Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.