Business
Agreement with global corporate for SweetBiotix®
Agreement with global corporate for SweetBiotix®.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \nRNS Number : 5010S OptiBiotix Health PLC 26 June 2018 \n\n26 June 2018\n \nOptiBiotix Health plc\n (\"OptiBiotix\" or the Company\")\n \nAgreement with global corporate for SweetBiotix®\nOptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol and diabetes, announces that it has entered into an agreement with a global corporate for its SweetBiotix® low calorie sweet fibres. The agreement sets out the terms and grants exclusivity, for a period of six months, to negotiate a license agreement for the scale up, manufacture and distribution of its SweetBiotix® low calorie sweet fibres. OptiBiotix will receive monthly payments during this exclusivity period amounting to a six figure sum. \n \nOptiBiotix has previously announced (RNS: 27 March 2018) that it has carried out five successful human taste studies on a range of products developed from its SweetBiotix® development programmes. This has created interest from a number of corporates with expertise in the manufacture and commercialisation of speciality ingredients and/or consumer products. This agreement reflects the materialisation of interest from one of these companies in scaling up, manufacturing and distributing SweetBiotix® from one of its development programmes. \n \nThe company is a global supplier of nutritional and agricultural products to companies around the world with an annual turnover exceeding $100bn. The organisation requires its identity and the terms of the agreement to remain confidential and no further details can be disclosed. A further announcement will be made in due course.\n \nStephen O'Hara, CEO of OptiBiotix, commented: \"We are pleased to announce the signing of this agreement for SweetBiotix® with one of the world's largest suppliers of nutritional and agricultural products. This is the second agreement with global partners for products created from our SweetBiotix® development programmes. This is part of a strategy of working with global partners to support scale up, manufacture and commercialisation of a range of SweetBiotix® products in well-known consumer brands. With international concerns over the balance of sugars and fibres in consumer diets rising, OptiBiotix's is at the forefront of product d...