Business
Extension of term and territories for products
Extension of term and territories for products.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \nRNS Number : 0584B OptiBiotix Health PLC 28 January 2020 \n\nOptiBiotix Health plc\n(\"OptiBiotix\" or the \"Company\")\n \nExtension of term and territories for SlimBiome®, SlimBiome® Medical and GoFigure®\nExisting agreements with CTC Holding BV and Cambridge Commodities Limited\n \nOptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high\ncholesterol, diabetes and skincare, announces it has extended the terms and territories of its original distribution agreements with CTC Holding BV (\"CTC Group\") as announced on 1 October 2018, and Cambridge Commodities (as announced on 24 April 2018) covering the distribution of SlimBiome®, SlimBiome® Medical and GoFigure®. The details of the agreements are as follows:-\n \nCTC Group:-\n- Extend the product range from the distribution of SlimBiome® to include SlimBiome® Medical and GoFigure®\n- Extend the number of territories with non-exclusive distribution rights from the Philippines, Vietnam, Indonesia and Colombia to include the Dominican Republic and Guatemala\n- The agreement is for an initial period of 18 months with renewal linked to sales targets\n \nCambridge Commodities:-\n- Provide exclusive distribution rights for SlimBiome® in the United Kingdom\n- Extend the territory to include Ireland\n- The agreement is for an initial period of 24 months with renewal linked to sales targets \n \nDr. Fred Narbel, Managing Director of OptiBiotix's prebiotics division, commented: \"We are pleased to announce the extension of terms and territory for CTC Group and Cambridge Commodities. These agreements recognise the success of both these partners in building sales of SlimBiome® and extends terms and territory to support further sale growth, supported by minimum sales targets. This is another step in extending the geographical reach of SlimBiome® as it builds recurring revenue streams and brand recognition across the world.\" \n \nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014...