Business
Manufacturing, supply and profit sharing agreement
Manufacturing, supply and profit sharing agreement.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \nRNS Number : 6240I OptiBiotix Health PLC 12 August 2019 \n\nOptiBiotix Health plc\n(\"OptiBiotix\" or the \"Company\")\n \nManufacturing, supply and profit sharing agreement with Maxum Foods Pty Ltd.\n \nOptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high\ncholesterol, diabetes and skin care, announces it has entered into a manufacturing, supply and distribution agreement with Maxum Foods Pty Ltd (\"Maxum\"). The agreement grants Maxum an exclusive license to manufacture, supply and distribute OptiBiotix's SlimBiome® weight management technology in Australia and New Zealand.\n \nFounded in 2003, Maxum is an Australia-based dairy supplier headquartered in Brisbane and operating a dry blending facility in Melbourne, as well as distribution centres throughout Australia and New Zealand. Maxum has been named one of Australia's fastest-growing SMEs on the 2018 Smart50 list with a turnover of AUS$150.7 million in 2018 and a 110% growth between 2016 and 2018. \n \nSlimBiome®, an award winning weight management product, will be supplied by Maxum as a specialised functional ingredient, into a wide range of applications including, but not limited to, human nutrition comprising food and beverages, dairy, dietary supplements and sports nutrition. \n \nThis is another strategic step by OptiBiotix to derisk its supply chain and extend the market reach of SlimBiome® by adding manufacturing in Australia. Partnering with an established distributor that services over 950 customers and to whom it sells approximately 35,000 metric tonnes of dairy per year, will extend the commercial opportunity for OptiBiotix's patented award winning weight management product into the Australian weight management market which is estimated to be worth AUS$320 million in 2019 (source: ibisworld.com.au).\n \nDr. Fred Narbel, Managing Director of OptiBiotix's prebiotics division, commented: \"We are pleased to announce the signing of a manufacturing and supply agreement with Maxum. We chose Maxum due to their knowledge of the Australian and New Zealand markets as well as their experience in distributing specialty ingredients like SlimBiome® and their reputation for supplying high-qual...