Business
SlimBiome® Medical agreement for Bulgaria
SlimBiome® Medical agreement for Bulgaria.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \nRNS Number : 4873V OptiBiotix Health PLC 09 April 2019 \n\nOptiBiotix Health plc\n(\"OptiBiotix\")\n \nSlimBiome® Medical agreement for Bulgaria \n \nOptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high\ncholesterol and diabetes, announces it has entered into a three year distribution agreement with an established and recognised company (\"The Company\") to exclusively distribute and commercialise OptiBiotix's CE marked medical device, SlimBiome® Medical (SlimBiome®), in Bulgaria.\n \nThe Company has an established track record of taking new products to market directly through pharmacies and wholesalers, via its a distribution network in Bulgaria.\n \nThe agreement grants the Company exclusive distribution in Bulgaria in return for meeting annual sales targets to retain exclusivity. This agreement follows on from the announcement that SlimBiome® was granted medical device status and a CE mark (RNS: 27 November 2018) and the appointment of Nutrilinea S.R.L as a manufacturer (RNS: 29 November 2018). SlimBiome® is clinically proven in a number of clinical studies to promote weight loss and will be sold as 30 single dose sachets to pharmacies and wholesalers in Bulgaria.\n \nThe Company requires its identity and the terms of the agreement to remain confidential to protect its commercial interests and launch plans, therefore no further details can be disclosed. A further announcement will be made in due course.\n \nFred Narbel, Managing Director of the Prebiotics division, commented: \"We are pleased to announce this exclusive distribution deal after achieving medical device registration and CE mark for SlimBiome® in 2018. Even more encouraging is that the Company expects to place an early order to support a consumer launch in the near future. We are delighted at the high level of interest we have received in SlimBiome® from an industry which recognises the value of protective patents and trademarks, two industry awards, clinical studies demonstrating safety and efficacy, and now a medical device registration and CE mark. These all provide clear differentiation from other weight loss products increasing the likelihood o...