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OptiBiotix Health - Exclusive distribution agreement

RNS Number : 2113A
OptiBiotix Health PLC
28 September 2020
 

OptiBiotix Health plc

("OptiBiotix" or the "Company")

 

Exclusive distribution agreement with United Italian Trading Corporation (Pte) Ltd

Exclusive rights to SlimBiome® Medical in Singapore

 

OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, announces it has entered into an exclusive distribution agreement for SlimBiome® Medical with United Italian Trading Corporation (Pte) Ltd ("UITC"). The agreement grants UITC exclusive rights to distribute OptiBiotix's SlimBiome® Medical proprietary weight management product in Singapore.

 

UITC (https://uitc.com.sg) is an established pharmaceutical and medical device marketing and distribution company founded in Singapore in 1963. UITC distributes pharmaceutical and medical products to a wide variety of clients that include hospitals, polyclinics, medical specialists clinics, family physician clinics, pharmacies, supermarkets and departmental stores. As an established marketing distribution agency, UITC delivers complete and integrated marketing and distribution services in the healthcare sector. Their core strength is their ability to introduce proven innovative products into the market by working with key opinion leaders, organising user experience clinical trials and selling into major hospitals and clinics.

 

Exclusivity is subject to UITC placing a first order of SlimBiome® Medical by the end of November 2020 for a minimum quantity of 3,000 boxes and increasing annual sales targets.

 

This agreement builds on the award OptiBiotix won for SlimBiome® Medical in Singapore in 2019 for the best weight management product of the year for Asia (RNS: 6 December 2019) and expands the geographical reach of the category with the addition of a fourth key geographical area (South East Asia) after successful launches in the UK (RNS: 24 April 2019), the Middle-East (RNS: 17 March 2020) and the USA (RNS: 22 September 2020).

 

Dr. Fred Narbel, Managing Director of OptiBiotix's prebiotics division, commented: "We are pleased to have signed an agreement with UITC to distribute our award-winning medical device in Singapore. UITC contacted us expressing an interest in our CE-marked medical device after carefully reviewing our peer-reviewed publications underlining the recognition and reputation OptiBiotix is establishing globally for its brands and scientific work."

 

Dexter Fung, Deputy Managing Director at UITC, commented: "As an established pharmaceutical company, our vision is to distribute products that meet the needs of consumers to achieve and maintain optimal quality of life. Obesity is on the rise in Singapore, increasing the risk of developing health problems like diabetes, heart disease and stroke. UITC feels that the award winning SlimBiome® Medical has great potential to fill the void of an effective weight control product in helping people to loose weight safely and effectively. In the last two decades, several weight loss medications and supplements have been withdrawn due to safety issues, we feel strongly that SlimBiome® Medical is the answer to  this need."

 

For further information, please contact:

 

OptiBiotix Health plc

www.optibiotix.com

Stephen O'Hara, Chief Executive

Contact via Walbrook below



finnCap (Broker)

Tel: 020 7220 0500

Geoff Nash / Kate Bannatyne (Corporate Finance)


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. 

 

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 OptiBiotix'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.

 

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