Business
CholBiome® agreement for Greece and Cyprus
CholBiome® agreement for Greece and Cyprus.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \nRNS Number : 1203I OptiBiotix Health PLC 22 November 2018 \n\nOptiBiotix Health plc\n(\"OptiBiotix\")\n \nCholBiome® agreement for Greece and Cyprus \n \nOptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high\ncholesterol and diabetes, announces it has entered into a three year distribution agreement with an established and recognised company (\"The Company\") to exclusively distribute and commercialise OptiBiotix's own label CholBiome® products containing its cholesterol and blood pressure reducing LPLDL® strain, in Greece and Cyprus. \n \nThe Company is a rapidly growing firm with an established distribution network in Cyprus, Greece and the Middle East with a track record in new product promotion and market development in pharmaceutical and foods supplement distribution directly to pharmacies. The Company is associated with a number of international clinics, providing biological medicine therapies to individuals across the world.\n \nThe agreement grants the Company exclusive distribution in return for local product registration and three year's sales targets to retain exclusivity. This agreement covers the CholBiome® range and follows our recent launch online in the UK and the announcement on 26 September 2018 of a CholBiome® distribution agreement for Bulgaria. It is in line with our strategy to expand sales of OptiBiotix's own label CholBiome® products into the European market.\n \nCholBiome® products containing LPLDL® have a unique ability to reduce both cholesterol and blood pressure providing a clinically proven natural product to help reduce these cardiovascular risk factors.\n \nThe Company requires its identity and the terms of the agreement to remain confidential to protect its commercial interests and launch plans therefore no further details can be disclosed. A further announcement will be made in due course.\n \nPer Rehné, Commercial Director of OptiBiotix, commented: \"We are pleased to announce this agreement which extends the sales of our CholBiome® products into Cyprus and Greece. We chose the Company for its market access in Cyprus and Greece and solid track record for growing product sales. This agreement is a...