Business
Exclusive license agreement for LPLDL®
Exclusive license agreement for LPLDL®.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \nRNS Number : 0523S OptiBiotix Health PLC 21 June 2018 \n\n21 June 2018\n \nOptiBiotix Health plc\n(\"OptiBiotix\" or the \"Company\")\n \nExclusive license agreement for LPLDL®\n \nOptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care, announces it has entered into license agreement with ALFASIGMA S.p.A. (\"ALFASIGMA\") to exclusively commercialise food supplements containing OptiBiotix's cholesterol and blood pressure reducing LPLDL® strain in Italy.\n \nThe agreement is a 10 year exclusive license agreement with an upfront payment and royalties with five figure guaranteed annual minimum payments. Under the terms of the agreement, ALFASIGMA will obtain the license to promote food supplements containing LPLDL® throughout Italy for cardiovascular health, with the aim of maximising the financial return for both parties. \n \nALFASIGMA, is an integrated multinational pharmaceutical company with 2017 revenue in excess of €1 billion and 2800 employees globally. Outside of its core Italian market, ALFASIGMA has 16 subsidiaries in Europe, Asia, North & Central America and Africa, and has authorised distributors in more than 70 countries. More than 44% of ALFASIGMA turnover comes from internally developed proprietary products. One of these, Normix/Xifaxan, has reached a worldwide turnover in excess of €1.3 billion through ALFASIGMA partners. \n \nThis agreement follows on from the launch of LPLDL® in the USA and is a strategic step to access high value high growth markets around the world. It extends the commercialisation of LPLDL® into Italy, the largest probiotic supplement market in Europe, and the second largest market in the world. Italy is an estimated >$500 million probiotic supplements market with a 25% per annum growth forecast to 2021*.\n \n*Market data from 'TRENDS, INNOVATIONS AND OPPORTUNITIES DRIVING THE GLOBAL PROBIOTICS MARKET' (Euromonitor International June 2017). \n \nPer Rehne, Commercial Director of OptiBiotix, commented: \"We are excited to announce this 10 year exclusive agreement with ALFASIGMA which expands sales of LPLDL® into Italy, the largest and fastest growing probiotic market in Europe. ALFASIGMA are one of the largest pharmaceutical companies in...