OptiBiotix Health plc (LON:OPTI) has taken another step in building the profile of its LPLDL cholesterol-reducing strain after it inked a non-exclusive licence agreement with Italy-based food supplements provider, Nutrilinea.
The tie-up will see Nutrilinea produce, promote, market and commercialise OptiBiotix’s CholBiome and CardioBiome products – both of which contain the LPLDL strain – to its European network.
The AIM-quoted life sciences group said the agreement had been granted with a view to maximising the financial return for both parties.
It is the latest example of Opti’s strategy to bring together its science with an outside partner’s expertise and market reach.
Agreement will help develop LPLDL into a ‘global brand’
“We believe working with Nutrilinea, and similar partners around the world, provides the best opportunity of building LPLDL into a global brand,” said chief executive Stephen O’Hara.
“We see this as another step in building revenues and market presence of LPLDL as the 'Intel' inside a wide range of products, provided in different presentations and formulations, for cardiovascular health across both consumer and pharmaceutical markets around the world.”
Nutrilinea provides products containing some of the world’s best-selling probiotic strains to both national and international businesses in Europe and the US, OptiBiotix said.
It is “one of Europe’s fastest growing providers of food supplements” which has doubled its revenues over the past 12 months to over €30m per annum.
Shares gained 1.7p, or 2.5%, in early deals on Tuesday to trade at 70.2p.
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