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Life sciences group Optibiotix (LON:OPTI) has completed a clinical study for its cholesterol reducing capsules with no safety concerns arising.
Human testing, which began in January, has been carried out over 12 weeks at the University of Reading on 50 people with high cholesterol.
Samples from the volunteers will now be tested and analysed to determine the potential of the cholesterol lowering product.
Stephen O'Hara, chief executive, said: “The key point to get across is that the study was finished on time. We had no issues and no dropouts “
“We hope that these studies will make a significant contribution to improving people's lives and build a valuable and sustainable business for shareholders.”
Unlike other products on the market, including low fat butter spread Benecol, which blocks cholesterol that has been ingested, Optibiotix says this new supplement can also reduce the amount of cholesterol produced by the body.
The cholesterol and diabetes specialist’s capsule supplement, in laboratory testing, showed a reduction in cholesterol of between 71% and 82%.
Results for the human phase of testing, which was a double-blind study, are expected to be released in September.
Optibiotix has an option agreement in place with an unnamed multinational company, which gives the corporation the first look at the results and the option to take the product on further.
This is at an early stage, at the very beginning of the potential of the product” O’Hara said “and typically it will take further, broader studies to see where this product has most value as a global product.”
“Once we have all the test results in we will do the analysis and have a level of interest from this corporate and potentially other corporates” he said.
Shares gained 2.5% to 38.8p.