Business
License agreement for CholBiome® in Vietnam
License agreement for CholBiome® in Vietnam.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \nRNS Number : 5857B OptiBiotix Health PLC 10 June 2019 \n\nOptiBiotix Health plc\n(\"OptiBiotix\" or the \"Company\")\n \nLicense agreement for CholBiome® and CholBiome®x3 in Vietnam\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 signed a license agreement with Biovagen Healthcare Pte. Ltd. (\"Biovagen\") for the commercialisation of ProBiotix's cholesterol management products CholBiome® and CholBiome®x3 in Vietnam.\n \nThe agreement grants Biovagen exclusive rights to market both products in Vietnam for an initial period of three year with Biovagen covering the costs of registering the products with local health authorities. Market exclusivity is linked to minimum sales orders with half the minimum quantity for the first year required within six months of signing this agreement to maximise the financial return for both parties. \n \nBased in Singapore, Biovagen is a leading pharmaceutical and probiotics distributor in Vietnam through its local subsidiary Viet Phap International Co., Ltd (\"Viet Phap\"). Viet Phap currently represents some of the main global generic drugs, specialty pharmaceuticals and probiotics players in the country. CholBiome®, ProBiotix's product for cholesterol maintenance featuring its lead probiotic strain Lactobacillus plantarum LPLDL®, will be marketed as BioStatin, whereas CholBiome®x3, the company's flagship product for cholesterol reduction, will be marketed as BioStatin Platinum.\n \nVietnam's population is 97 million todayand is expected to reach 120 million by 2050. Its economy has developed dramatically over the last three decades and shows strong growth rates of 6.5-7% annually. This trend is expected to continue in the years to come (The World Bank). With a rapidly-aging population, cardiovascular disease is responsible for 31% of all deaths (equivalent to around 170,000 per year), and around 20% of the population suffers from high blood pressure (World Health Organisation). Good access to healthcare in the country made Vietnam rank second in the ASEAN region (Association of Southeast Asian Nations) in The World Bank's ...