TIDMOPTI
RNS Number : 1450F
OptiBiotix Health PLC
11 July 2019
OptiBiotix Health plc
("OptiBiotix" or the "Company")
Scientific and commercial update
OptiBiotix Health plc (AIM: OPTI), a life sciences business
developing compounds to tackle obesity, high cholesterol, diabetes
and skin care, provides the following scientific and commercial
update.
Scientific update
LP(LDL) (R): In 2018, the Company announced an agreement with a
US partner to develop its cholesterol reducing Lactobacillus
plantarum LP(LDL) (R) strain ("LP(LDL) (R) ") as a pharmaceutical
drug product in the USA (RNS: 4 September 2018). The agreement
included a number of six figure payments to be made by the US
partner at signing and at subsequent milestones with an additional
six figure sum on product launch, plus royalties on future product
sales. OptiBiotix was responsible for the manufacture of LP(LDL)
(R) to pharmaceutical drug standards. Work has been ongoing with
our manufacturing partner to invest in and develop the necessary
pharmaceutical processes, supporting documentation, and production
batches to confirm regulatory compliance. We anticipate this work
will be completed by the end of July 2019 with certification
following shortly afterwards. This will trigger the second
milestone payment to us and allow us to market LP(LDL) (R) as a
product manufactured to pharmaceutical standards. This adds value,
opens up further opportunities with pharmaceutical companies, and
creates product differentiation as the majority of probiotics are
currently manufactured under food, rather than pharmaceutical
standards.
SlimBiome(R): OptiBiotix has carried out human studies on its
SlimBiome(R) ingredient and SlimBiome(R) Medical product to
determine its effects on both the glycaemic index ("GI") and
glycaemic response ("GR") indicators of whether a food raises blood
glucose levels quickly, or slowly. The results show both
SlimBiome(R) and SlimBiome(R) Medical have a low GI and a low GR.
The results also suggest that SlimBiome(R) when taken with a high
GI sugar (e.g. sucrose) may mitigate the effect of the addition of
a high GI sugar.
The results of this study provide further evidence of the
ability of SlimBiome(R) to moderate blood glucose levels to
increase satiety and reduce food cravings as a means of controlling
the type and amount of food consumed.
SweetBiotix(R): OptiBiotix has a number of development
programmes creating natural sweet fibres (SweetBiotix(R)) with a
clean flavour profile. Recent studies have shown that OptiBiotix's
high intensity derived sweeteners enhance the gut microbiome,
significantly increasing the number and activity of bacterial
species typically associated with good gut health when compared to
current natural sweeteners (e.g. stevia, mogrosides). These
products are now undergoing manufacturing scale up with a US
corporate partner. Discussions are ongoing with another corporate
partner to explore the potential to reduce the sugar, increase
fibre content, and provide health benefits with a well-known
branded global beverage provider. Discussions with large corporate
partners take place within a corporate process and timescale and
are subject to strict confidentiality clauses.
Commercial update
OptiBiotix continues to make strong commercial progress across
all its platforms signing 16 commercial agreements since the end of
November 2018 with products now being commercialised in over 30
countries. These include nine for LP(LDL) (R) and seven for
SlimBiome(R). This is part of a commercial strategy to close out
deals across multiple levels of the value chain, starting with
manufacturing agreements (e.g. Sacco, Knighton), license deals with
formulation partners (e.g. Nutrilinea), and distribution agreements
with retailers. This builds revenues and market presence of our
patented and trademarked products (LP(LDL) (R) , SlimBiome(R) ) as
the 'Intel' inside a wide range of food, beverage, supplement and
medical products around the world. As the brand value increases,
this provides us with a stronger negotiating position with
commercial partners. We continue to see revenue growth in early
2019 and anticipate this revenue to increase in H2 2019 with
confirmation of a large corporate partner launching products in Q1
2020, plans for launch of own label product with a potential major
retailer in early 2020, and advanced discussions with an
established online consumer business to build direct to consumer
sales. Whilst there are no guarantees these will all deliver
expected sales revenues, and while changes to international
accounting practices (IFRS 15) may impact on the timing of
reporting revenues, we anticipate further revenue growth in the
years ahead as existing agreements start to generate revenues, and
new agreements continue to be signed.
Steve Prescott (CEO ProBiotix Health Ltd)
We are pleased that Steve Prescott commenced his employment with
OptiBiotix on 1 July 2019 as Chief Executive Officer of
OptiBiotix's wholly-owned subsidiary, ProBiotix Health Ltd. Steve
will be based in the USA as part of a strategic step to extend the
market opportunity for LP(LDL) (R) and brings a track record of
growing probiotic sales in international markets, specialist and
industry expertise, and a network of international contacts. Work
is ongoing to explore opportunities for a potential initial public
offering of ProBiotix Health Limited.
Stephen O'Hara, CEO of OptiBiotix, commented: "The Company
believes it is making strong scientific and commercial progress
across all its technology and product platforms. With the
manufacturing scale up progressing for SweetBiotix(R) and work on
LP(LDL) (R) certification as a product manufactured to
pharmaceutical standard nearing completion (extending the
opportunity into pharmaceutical sales), more products are entering
the commercialisation phase. With current products winning awards
for their science and product innovation and growing deal flow
across international markets, the Company is continuing to grow
revenue streams across a broad deal pipeline. If most of these
partners deliver on their forecasts, revenues will continue to grow
in the months and years ahead. We are particularly pleased that, as
the value of our brands increase internationally, we are seeing
increased retail interest and a number of our larger corporate
partners committing to product launches."
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 / Ludovico Lazzaretti
finnCap (Broker) Tel: 020 7220 0500
Geoff Nash / Kate Bannatyne (Corporate Finance)
Camille Gochez (Corporate Broking)
goetzpartners securities Limited Tel: 0203 859 7725
Ulrich Kinzel
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 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
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed 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 re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
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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