Business
Extension of term and territories for LPLDL®
Extension of term and territories for LPLDL®.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \nRNS Number : 9309S OptiBiotix Health PLC 15 March 2019 \n\nOptiBiotix Health plc\n(\"OptiBiotix\" or the \"Company\")\n \nExtension of term and territories for LPLDL® capsules with HLH Biopharma GmbH\n \nOptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, cardiovascular disease and diabetes, announces that its fully-owned subsidiary ProBiotix Health Ltd., has extended its original supply agreement (see RNS: 15 June 2017) with HLH BioPharma Vertriebs GmbH (\"HLH\") covering the supply of LPLDL® capsules. The new agreement grants HLH: -\n \n· An exclusive license to produce, package and commercialise a customised capsular product containing OptiBiotix's cholesterol reducing LPLDL® strain in Germany with order volume commitments which double each year for the next three years to maintain exclusivity in this territory \n· A nonexclusive license to produce, package and commercialise products containing OptiBiotix's cholesterol reducing LPLDL® strain in Austria, Switzerland and the United Arab Emirates (UAE)\n· The agreement is for three years from the data of signing\n· The agreement restricts HLH from promoting and/or making sales, or exporting products outside these territories \n \nHLH have over 20 years' experience in the distribution of probiotic and natural products under the brand names Lactobact® and is one of Europe's leading suppliers of probiotics to the pharmacy market.\n \nThis agreement recognises the successful launch of HLH in capsules containing LPLDL ® (RNS: 26 July 2017) under the brand name Lactobact® LDL-Control and promoting them directly to the pharmacy market in Germany and to consumers on their online platform. The commitment to double order volumes each year for the next three years to maintain exclusivity reflects the growing confidence from HLH in the science and effectiveness of LPLDL®. This is another important step, in this case with an existing partner, in OptiBiotix's strategy of building the LPLDL® brand, to serve multiple consumer healthcare and pharmaceutical markets around the world.\n \nStephen O'Hara, CEO of OptiBiotix, commented: \"We are pleased to announ...