Business
SlImBiome® Medical agreement for Greece and Cyprus
SlImBiome® Medical agreement for Greece and Cyprus.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \nRNS Number : 2850J OptiBiotix Health PLC 04 December 2018 \n\nOptiBiotix Health plc\n(\"OptiBiotix\")\n \nSlImBiome® Medical agreement for Greece and Cyprus \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, in Greece and Cyprus. \n \nThe Company has an established distribution network in Cyprus, Greece and the Middle East and a track record in taking new products to market direct to pharmacies through its established distribution network. The Company is associated with a number of private clinics providing therapies to individuals across the world.\n \nThe agreement grants the Company exclusive distribution in Greece and Cyprus and first right of refusal for the Gulf States 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® Medical 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 clinics in Greece and Cyprus.\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 \nStephen OHara, Chief Executive of OptiBiotix, commented: \"We are pleased to announce this exclusive distribution deal so soon after achieving medical device registration and CE mark for SlimBiome®. Even more encouraging is that the Company has placed an early order and expects to make further orders to support a consumer launch in early 2019. We are delighted at the high level of interest we have received in SlimBiome® from an industry which recognises the value of protective pate...