Shares in OptiBiotix Health PLC (AIM:OPTI, OTC:OPBXF) climbed by 12% on Monday morning after the firm unveiled a licensing agreement with Tata Chemicals to roll out its weight loss products in India.
Tata’s Fossence product will be incorporated into OptiBiotix's SlimBiome and LeanBiome goods as a fructo-oligosaccharide replacement and sold in India under the agreement.
Following approval by Tata to combine these, the agreement will offer OptiBiotix exposure to the country, the company said in a statement.
“[The deal] will help reduce hunger and food cravings to support the weight management efforts of India's 135 million obese men and women,” Optibiotix chief executive Stephen O'Hara commented.
Shares climbed by 12.15% to 30p following the news.