Sign up
Pharma Capital

OptiBiotix inks distribution deal for SlimBiome in Bulgaria

The partner company, which was not named, had “an established track record” of taking new products to pharmacies and wholesalers via its distribution network in the country
Bulgaria flag
The partner company will have exclusive distribution rights in Bulgaria in return for meeting annual sales targets

OptiBiotix Health PLC (LON:OPTI) has signed a three-year agreement for the distribution of its SlimBiome weight loss product in Bulgaria.

The partner company, which was not named due to commercial interests and to protect launch plans, had “an established track record” of taking new products to pharmacies and wholesalers via its distribution network in the Balkan country.

WATCH: OptiBiotix Health signs three-year agreement for SlimBiome in Bulgaria

The agreement would grant the firm exclusive distribution rights in Bulgaria in return for meeting annual sales targets, OptiBiotix said.

Fred Narbel, managing director of OPTI’s prebiotics division, added that the partner company expected to place an early order for a consumer launch of the product “in the near future”.

“We are delighted at the high level of interest we have received in SlimBiome from an industry which recognises the value of protective patents and trademarks, two industry awards, clinical studies demonstrating safety and efficacy, and now a medical device registration and CE mark. These all provide a clear differentiation from other weight loss products. increasing the likelihood of commercial success.”

The Bulgarian deal is the second partnership agreed for SlimBiome in the last three weeks, with OPTI having signed a distribution agreement for the product in Italy and Spain back on 20 March.

In early trading on Tuesday, OptiBiotix shares were down 1.2% at 82p.

--Adds share price--

View full OPTI profile View Profile
View All

Related Articles

cancer scan
The company, which owns a piece of software which predicts the effects of drugs on cancers, has recently extended a lucrative agreement with German firm Merck Serono while it has also signed a strategic collaboration with the Medicines Discovery Catapult

© biotech Capital 2019

Biotech Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed biotech companies to interact with institutional and highly capitalised investors.
Headquartered in London, Biotech Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Biotechnology market.