Business
Appointment of CEO of ProBiotix Health
Appointment of CEO of ProBiotix Health.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \nRNS Number : 1909A OptiBiotix Health PLC 28 May 2019 \n\nOptiBiotix Health plc\n(\"OptiBiotix\" or the \"Company\")\n \nAppointment of CEO for ProBiotix Health Ltd\n \nOptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care, announces the appointment of Stephen Prescott as Chief Executive Officer (CEO) of its wholly-owned subsidiary, ProBiotix Health Ltd (\"ProBiotix\"). \n \nProBiotix was created to develop science based healthy bacteria called probiotics to reduce cardiovascular risk. Independent clinical studies have shown its LPLDL® probiotic can reduce key cardiovascular risk markers such as total cholesterol, LDL (\"bad\") cholesterol, and blood pressure by up to 36.7%, 13.9% and 5.1% respectively. Since launching its CholBiome® products containing LPLDL® in May 2017, ProBiotix has signed over 23 agreements and its products are now commercialised in 23 countries. LPLDL® was designated Generally Recognized As Safe (\"GRAS\") by an independent Expert GRAS Panel in the United States in February 2019, which extends its applications from use as a supplement to use as a functional ingredient in a wide range of food, dairy, and beverage products in the USA. \n \nStephen is joining ProBiotix from a position as Vice President of Marketing and Applications from Probi AB (\"Probi\"), a Swedish probiotic company which had annualised sales of SEK604m in 2018. Prior to joining Probi, Stephen spent four years as Global Probiotic Product Manager at Dupont where he had global P&L responsibility for a $300 million per year business. Previously, Stephen worked for Johnson Matthey Pharmaceuticals (2008-2010) and Pfizer (1999-2008), one of the world's largest pharmaceutical companies. Stephen brings extensive experience of commercialising probiotics in international markets, a wide network of industry contacts, and a strong track record of rapidly growing sales.\n \nStephen will be based in the USA as part of a strategic step to extend the market opportunity for LPLDL® within the US probiotic supplement, food and dairy markets. The USA is one of the largest and fastest growing probiotic markets in the developed world with supplements sa...