Last checked at 13 Mar 2024 07:00
OptiBiotix Health plc
("OptiBiotix" or the "Company")
Partnership agreement with Morepen for SlimBiome® containing finished products
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, announces it has signed a partnership agreement with Dr Morepen Ltd ("Morepen") for the sale of SlimBiome® containing products in India under the Dr Morepen brand. Morepen is a 100% owned subsidiary of Morepen Laboratories Ltd ("Morepen Laboratories"), an Indian pharmaceutical company listed on the Indian Stock Exchange.
Morepen Laboratories has more than 2,300 employees and sells over 800 products to over 82 countries. Morepen is a well-known and trusted brand in India, launched in 2001 to encourage customers to be in charge of their own health and wellbeing. Morepen has direct access to over 200,000 pharmacies across India and indirect access to another 300,000 pharmacies. Products will be sold online, in store, and direct to physicians across India.
Stephen O'Hara, CEO of OptiBiotix, commented: "We are pleased to announce this agreement with Morepen, a well-known and trusted supplier to pharmacies, physicians, and retail customers across India. Morepen brings an extensive sales team with experience of highly differentiated scientific products and countrywide access to a network of around 500,000 pharmacies across India. Based on current forecasts, the Directors anticipate this agreement could contribute in the region of £6-7 million revenue per annum in the next four to five years."
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 | ||
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Peterhouse Capital Limited (Broker) | Tel: 020 7220 9797 | |
Duncan Vasey / Lucy Williams | ||
Walbrook PR Ltd | Mob: 07876 741 001 | |
Anna Dunphy | ||
About OptiBiotix - www.optibiotix.com
OptiBiotix Health plc (AIM: OPTI), which was formed in March 2012, brings science to the development of compounds which modify the human microbiome - the collective genome of the microbes in the body - in order to prevent and manage human disease and promote wellness.
OptiBiotix has an extensive R&D programme working with leading academics in the development of microbial strains, compounds, and formulations which are used as active ingredients and supplements. More than twenty international food and healthcare supplement companies have signed agreements with OptiBiotix to incorporate their human microbiome modulators into a wide range of food products and drinks.
OptiBiotix is also developing its own range of consumer supplements and health products. The Company's current areas of focus include obesity, cardiovascular health, and diabetes.
Forward-Looking Statements
Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.