OptiBiotix Health PLC License agreement for CholBiome® in Vietnam (5857B)
10 Junio 2019 - 1:00AM
UK Regulatory
TIDMOPTI
RNS Number : 5857B
OptiBiotix Health PLC
10 June 2019
OptiBiotix Health plc
("OptiBiotix" or the "Company")
License agreement for CholBiome(R) and CholBiome(R)(x3) in
Vietnam
OptiBiotix Health plc (AIM: OPTI), a life sciences business
developing compounds to tackle obesity, cardiovascular disease and
diabetes, announces that its fully-owned subsidiary ProBiotix
Health Ltd., has signed a license agreement with Biovagen
Healthcare Pte. Ltd. ("Biovagen") for the commercialisation of
ProBiotix's cholesterol management products CholBiome(R) and
CholBiome(R)(x3) in Vietnam.
The agreement grants Biovagen exclusive rights to market both
products in Vietnam for an initial period of three year with
Biovagen covering the costs of registering the products with local
health authorities. Market exclusivity is linked to minimum sales
orders with half the minimum quantity for the first year required
within six months of signing this agreement to maximise the
financial return for both parties.
Based in Singapore, Biovagen is a leading pharmaceutical and
probiotics distributor in Vietnam through its local subsidiary Viet
Phap International Co., Ltd ("Viet Phap"). Viet Phap currently
represents some of the main global generic drugs, specialty
pharmaceuticals and probiotics players in the country.
CholBiome(R), ProBiotix's product for cholesterol maintenance
featuring its lead probiotic strain Lactobacillus plantarum LP(LDL)
(R), will be marketed as BioStatin, whereas CholBiome(R)(x3) , the
company's flagship product for cholesterol reduction, will be
marketed as BioStatin Platinum.
Vietnam's population is 97 million todayand is expected to reach
120 million by 2050. Its economy has developed dramatically over
the last three decades and shows strong growth rates of 6.5-7%
annually. This trend is expected to continue in the years to come
(The World Bank). With a rapidly-aging population, cardiovascular
disease is responsible for 31% of all deaths (equivalent to around
170,000 per year), and around 20% of the population suffers from
high blood pressure (World Health Organisation). Good access to
healthcare in the country made Vietnam rank second in the ASEAN
region (Association of Southeast Asian Nations) in The World Bank's
2018 Human Capital Index, only after Singapore (which ranks first
worldwide).
This agreement is a strategic step to take OptiBiotix's
CholBiome(R) and CholBiome(R)(x3) products to international markets
as own label (OptiBiotix's brand) or white label (distributors
brand) products. As manufacturing volumes increase the unit costs
of each product decreases improving OptiBiotix's margins. This
strategy also creates a global demand for OptiBiotix's cholesterol
LP(LDL) (R) probiotic within CholBiome(R) products which helps
build brand recognition and brand value.
Dr. Luis Gosálbez, Business Development Director of OptiBiotix,
commented: "We are pleased to announce this agreement which
represents another step in extending the geographical reach of
LP(LDL) (R) containing products into the large and rapidly growing
Asian market. The requirement for annual and increasing guaranteed
minimum sales orders helps builds recurring revenues and extends
the sale of LP(LDL) (R) into another territory to support further
sales growth. Vietnam is an emerging economy and with Biovagen's
experience, expertise and local network, will enable our
CholBiome(R)s to reach thousands of patients suffering from high
cholesterol and high blood pressure. This is another example of
OptiBiotix's commercial strategy of working across multiple levels
of the value chain (manufacturer, formulator and distributor) for
the supply of white label and own label branded products. This
means we are able to derive revenue from both the sale of
CholBiome(R) and CholBiome(R)(x3) products and LP(LDL) (R) as an
active ingredient."
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)
Liam Murray / Jo Turner Tel: 020 7213 0880
finnCap (Broker)
Geoff Nash/ Kate Bannatyne (Corporate Finance)
Camille Gochez (Corporate Broking) Tel: 020 7220 0500
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 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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