Last checked at 11 Jul 2022 07:00
OptiBiotix Health plc
("OptiBiotix" or the "Company" or "Group")
Joint Development Agreement signed with Firmenich
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing products to tackle obesity, high cholesterol and diabetes, announces that it has entered into a joint development agreement with Firmenich. The agreement allows for collaboration between both parties to develop new products containing OptiBiotix's SweetBiotix®.
The agreement grants Firmenich rights to manufacture and sell SweetBiotix products as an ingredient or in final product solutions in return for sales based milestone and royalty payments.
Firmenich, the world's largest privately-owned fragrance and taste company, was founded in Geneva, Switzerland, in 1895. It is a leading business-to-business company specialized in the research, creation, manufacture and sale of perfumes, flavors and ingredients, and is one of the world's largest Stevia suppliers. Renowned for its world-class research and creativity, as well as its leadership in sustainability, Firmenich offers its customers superior innovation in formulation, a broad and high-quality palette of ingredients, and proprietary technologies including biotechnology, encapsulation, olfactory science and taste modulation. Firmenich products are enjoyed by 4 billion consumers a day, in more than 100 international markets and had an annual turnover of 4.3 billion Swiss Francs at end June 2021.
Stephen O'Hara, CEO of OptiBiotix, commented: "We are pleased to announce the signing of a joint development agreement with Firmenich, one of the world leaders in the taste and flavour industry. The agreement brings together Firmenich's research, development, manufacturing and supply chain expertise with OptiBiotix's IP portfolio and leading expertise in the human microbiome. We believe that this agreement will help both companies collectively bring better science and better health to more people around the world."
This announcement contains 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 | |
Stephen O'Hara, Chief Executive | Contact via Walbrook below | |
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Cairn Financial Advisers LLP (NOMAD) | Tel: 020 7213 0880 | |
Liam Murray / Jo Turner / Ludovico Lazzaretti | ||
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Cenkos Securities plc (Broker) | Tel: 020 7397 8900 | |
Callum Davidson / Neil McDonald | ||
Michael Johnson / Russell Kerr (Sales) | ||
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Walbrook PR Ltd | Mob: 07876 741 001 | |
Anna Dunphy | ||
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.