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OptiBiotix interims chart a period of significant commercial progress

Product launches and sales agreements have provided the business with traction
OptiBiotix interims chart a period of significant commercial progress
The life sciences company is developing compounds aimed at that human microbiome that tackle obesity, high cholesterol and diabetes

OptiBiotix Health PLC (LON:OPTI) said its interim results charted a period of "significant” commercial  progress, including product launches and sales agreements.

The life sciences company is developing pro-biotic compounds that tackle obesity, high cholesterol and diabetes.

READ:OptiBiotix set to launch its cholesterol-reducing strain in US next month

Key among the deals inked was one with Tata Chemicals to develop weight management products containing its SlimBiome additive for the Indian market.

Sacco deal inked

It also has a profit-sharing deal with Italian firm Sacco to manufacture and supply OptiBiotix's cholesterol-reducing strain, LPLDL. The first sales of this particular product were made to HLH BioPharma Vertriebs.    

At the same time it has a non-exclusive agreement with Nutrilinea for the production and commercialisation of products containing the LPLDL in Europe.

Deals with Sacco and HLH, meanwhile, have been expanded since the period-end.

WATCH: Optibiotix broadens tie-up with Sacco to cover US and rest of the world

The financial performance of the company was positively impacted by the spin-off earlier this year of subsidiary Skinbiotherapeutics as a separate AIM-listed company valued at £4.5mln.

This resulted in a change in value of Opti’s investment in the business of £4.1mln. This adjustment led to the company posting a pre-tax profit of £3.2mln for the six months ended May.

CEO upbeat

Chief executive Stephen O’Hara was upbeat on what was achieved as well as the prospects for remainder of the financial year.

"OptiBiotix has made significant progress in the last six months developing a pipeline of innovative products with a strong scientific and clinical evidence base,” he said in a statement.

“This has stimulated industry interest from both national and multinational companies in selling our products in both consumer health and pharmaceutical markets around the world.

“The microbiome has been described by commentators as healthcare's 'most promising and lucrative frontier'.

“As OptiBiotix's microbiome modulating platforms generate products and multiple revenue streams from royalties and supply agreements, there is potential for a significant enhancement in the value of the company.”

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