Business
Joint venture with Nizo Food Research
Joint venture with Nizo Food Research.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \nRNS Number : 6843C OptiBiotix Health PLC 21 January 2015 \n \n\nOptiBiotix Health plc\n(\"OptiBiotix\" or the \"Company\")\n \nJoint venture agreement with NIP B.V., a wholly owned undertaking of NIZO Food Research\n \nOptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol and diabetes, announces that it has entered into a 50/50 joint venture ('JV') agreement with NIP B.V., a wholly owned undertaking of NIZO Food Research BV ('NIZO').\n \nAs announced 28 October 2014, OptiBiotix incorporated its weight management formulation into fruit yoghurts which were manufactured by NIZO. An organoleptic (tasting) panel reported the yoghurt products had a smooth feel and taste and had the appearance of conventional yoghurts. These results have led to this JV agreement which has been established to develop, manufacture and distribute (both directly and indirectly) the weight management yoghurt and other dairy products to global markets. NIZO provides manufacturing expertise, industry credibility and a global network of contacts in the dairy industry. This agreement will allow OptiBiotix to fast-track entry into global markets. Both companies are contributing background intellectual property (IP), with any new IP jointly owned.\n \nOptiBiotix has a strategy to partner with multiple organisations and this JV agreement creates an opportunity to access global markets to commercialise the weight management formulation in yoghurt and other dairy products. This JV agreement comes about following the Company's attendance at the Health Ingredients Europe conference in December 2014, where OptiBiotix attracted interest in the product from Europe, the USA, South Korea, and Japan.\nStephen O'Hara, CEO of OptiBiotix, commented: \"Our weight management formulation has been especially created by industry experts to enhance satiation (feeling of fullness), increase metabolism and reduce energy harvest (calorie intake). Successful manufacturing and tasting studies of our weight management formulation in yoghurts, coupled with early commercial interest and NIZO's industry credibility, has allowed us to advance this opportunity earlier than expected. This announcement is consistent with OptiBiotix's strategy of creating technology platforms which create mult...