OptiBiotix inks Italian licensing agreement
Health additives business OptiBiotix Health has entered into license agreement with Italy's fifth-largest pharmaceutical group to exclusively commercialise food supplements containing its cholesterol and blood pressure reducing Lactobacillus Plantarum probiotic.
FTSE AIM All-Share
754.69
16:50 24/04/24
OptiBiotix Health
17.75p
16:55 24/04/24
Pharmaceuticals & Biotechnology
21,897.50
17:09 24/04/24
OptiBiotix's 10-year exclusive license agreement with Alfasigma, including an upfront payment and guaranteed future royalties, will see the Italian group obtain the license to promote food supplements containing the probiotic throughout its domestic market for cardiovascular health, with the aim of maximising the financial return for both parties.
Per Rehne, commercial director of OptiBiotix, said, "Alfasigma are one of the largest pharmaceutical companies in Italy with a strong track record in food supplements and pharmaceuticals for cardiovascular health. This agreement provides upfront and guaranteed minimum future payments with LPLDL offered in multiple product solutions to consumers in Italy."
"This agreement is another deal from a very strong pipeline with industry partners of increasing size and revenue potential targeted at the largest and fastest growing markets around the world," added Rehne.
The new deal followed OptiBiotix's recent launch of LPLDL in the USA, something the firm considered a "strategic step" to gain access to high-value high growth markets around the world.
As of 0825 BST, Optibiotix shares had climbed 1.58% to 64.20p.