Life sciences group OptiBiotix Health plc (LON:OPTI) has kicked off the New Year by increasing its investment in subsidiary The Health Weight Loss Company Limited (THWLC), which sells products to manage weight.
It has pumped in £75,000 taking its stake to 64% of the group, which it acquired a majority holding in in July last year.
Sales have outperformed expectations with its GoFigure products receiving excellent customer reviews on Amazon and customer surveys reporting average weight loss of 2 ½lbs per week, it said.
OptiBiotix chief Stephen O'Hara told investors: "We are really pleased with the progress of THWLC and the rapid sales growth of its GoFigure products which have shown the unique ability of our SlimBiome technology to help customers lose weight without feeling hungry, leading to easier and more successful dieting."
He added the further investment would provide funds to invest in marketing, to build stock levels to meet the seasonal demand for weight management products, and to support increased retail listings, particularly with major retail outlets.
THWLC now has more than 1,000 customers, retail listings in over 80 stores, and four distributorships in the UK and Iceland.
OptiBiotix is focused on developing microbial strains and formulations, which modulate the human microbiome and can be used as food ingredients and supplements or active compounds for the prevention and management of human metabolic diseases.
Shares gained over 4% on the day to 63.5p.