OptiBiotix Health PLC Appointment of CEO of ProBiotix Health (1909A)
28 Mayo 2019 - 1:01AM
UK Regulatory
TIDMOPTI
RNS Number : 1909A
OptiBiotix Health PLC
28 May 2019
OptiBiotix Health plc
("OptiBiotix" or the "Company")
Appointment of CEO for ProBiotix Health Ltd
OptiBiotix Health plc (AIM: OPTI), a life sciences business
developing compounds to tackle obesity, high cholesterol, diabetes
and skin care, announces the appointment of Stephen Prescott as
Chief Executive Officer (CEO) of its wholly-owned subsidiary,
ProBiotix Health Ltd ("ProBiotix").
ProBiotix was created to develop science based healthy bacteria
called probiotics to reduce cardiovascular risk. Independent
clinical studies have shown its LP(LDL) (R) probiotic can reduce
key cardiovascular risk markers such as total cholesterol, LDL
("bad") cholesterol, and blood pressure by up to 36.7%, 13.9% and
5.1% respectively. Since launching its CholBiome(R) products
containing LP(LDL) (R) in May 2017, ProBiotix has signed over 23
agreements and its products are now commercialised in 23 countries.
LP(LDL) (R) was designated Generally Recognized As Safe ("GRAS") by
an independent Expert GRAS Panel in the United States in February
2019, which extends its applications from use as a supplement to
use as a functional ingredient in a wide range of food, dairy, and
beverage products in the USA.
Stephen is joining ProBiotix from a position as Vice President
of Marketing and Applications from Probi AB ("Probi"), a Swedish
probiotic company which had annualised sales of SEK604m in 2018.
Prior to joining Probi, Stephen spent four years as Global
Probiotic Product Manager at Dupont where he had global P&L
responsibility for a $300 million per year business. Previously,
Stephen worked for Johnson Matthey Pharmaceuticals (2008-2010) and
Pfizer (1999-2008), one of the world's largest pharmaceutical
companies. Stephen brings extensive experience of commercialising
probiotics in international markets, a wide network of industry
contacts, and a strong track record of rapidly growing sales.
Stephen will be based in the USA as part of a strategic step to
extend the market opportunity for LP(LDL) (R) within the US
probiotic supplement, food and dairy markets. The USA is one of the
largest and fastest growing probiotic markets in the developed
world with supplements sales of $2.06 bn in 2016 and growing at 55%
per annum, and food and beverage products $5bn per annum*.
(*Market data from 'TRENDS, INNOVATIONS AND OPPORTUNITIES
DRIVING THE GLOBAL PROBIOTICS MARKET' (Euromonitor International
June 2017)
Stephen O'Hara, CEO of OptiBiotix, commented: "Stephen's
experience and track record of growing probiotic sales in
international markets brings specialist commercial and industry
expertise to OptiBiotix's wholly owned probiotic subsidiary,
ProBiotix Health Ltd. His network of contacts provides access to
international markets which we hope will continue to drive revenue
growth of LP(LDL) (R) in supplement, food, and pharmaceutical
products around the world. We are delighted that Stephen has joined
ProBiotix Health at such an exciting stage of its development and
hope that under his leadership it can grow to become a substantive
and valuable business in the years ahead."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
OptiBiotix Health plc www.optibiotix.com
Stephen O'Hara, Chief Executive Contact via Walbrook
below
Cairn Financial Advisers LLP (NOMAD) Tel: 020 7213 0880
Liam Murray / Jo Turner
finnCap (Broker) Tel: 020 7220 0500
Geoff Nash/ Scott Mathieson / Kate Bannatyne
(Corporate Finance)
Camille Gochez (Corporate Broking)
Walbrook PR Ltd Tel: 020 7933 8780 or optibiotix@walbrookpr.com
Anna Dunphy Mob: 07876 741 001
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 program working with leading
academics in the development of microbial strains, compounds, and
formulations which are used as active ingredients and supplements.
More than twenty five 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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