Business
New partner for LPLDL® in Bulgaria
New partner for LPLDL® in Bulgaria.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \n \n RNS Number : 8261F\n OptiBiotix Health PLC\n 12 March 2020\n \n \n \n OptiBiotix Health plc\n (\"OptiBiotix\" or the \"Company\")\n \n \n \n New partner for LPLDL® in Bulgaria\n \n OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, cardiovascular disease and diabetes, announces that its wholly-owned subsidiary ProBiotix Health Ltd. (\"ProBiotix\"), has signed a licencing agreement with Velinoff Pharma Ltd (\"Velinoff\") for the distribution of ProBiotix's product CholBiome® and CholBiome®X3, which contains OptiBiotix's patented probiotic strain LPLDL®, in Bulgaria.\n \n \n \n Under the terms of the agreement, Velinoff will promote the sale of CholBiome® and CholBiome®X3 containing LPLDL® under a non-exclusive licence to pharmacies, cardiologists, general practitioners, and cardiologic clinics in Bulgaria. Velinoff will have a dedicated team including a brand manager and three medical sales representatives along with an existing team of sales representatives promoting product sales. The agreement is based on minimum sales volumes.\n \n This agreement replaces the agreement announced previously (RNS: 26 September 2018) with an unnamed distributor and eliminates an intermediary in the supply chain with a shorter route to market allowing closer partner working.\n \n Velinoff is a pharmaceutical marketing company founded in 2018 as representatives of pharmaceutical companies active in the advanced areas of biotechnology, their main focus is biotechnological innovations and therapies, affecting both large populations and lifestyle diseases (e.g. cardiovascular, diabetes), as well as therapies aimed at overcoming individual conditions. The purpose of the company is to present the Bulgarian market with the most innovative pharmacological care products.\n \n \n Steve Prescott, CEO of ProBiotix, commented: \"We are pleased to announce the agreement with Velinoff which will strengthenLPLDL®'s presence in Bulgaria. Velinoff was chosen as our partner because they bring local expertise and a dedicated sales team to promote the sale of CholBiome® and CholBiome®X3in the Bulgarian market. The change to this agreement removes a sales intermediary allowing us to better support Velinoff to grow sales. This is all part of the next phase of...