Human microbiome specialist OptiBiotix Health PLC (LON:OPTI) has agreed for its cholesterol and blood pressure reducing LP-LDL strain to be sold in Spain, Chile, Peru and the Middle East in a three-year deal with Galenicum Special Ingredients.
The non-exclusive deal will see LP-LDL added to Galenicum's STOP&GO range of capsules, which are sold under the brand Cardiocare.
READ: Cholesterol drug failures spark big pharma interest in Optibiotix's microbiome-based alternative
Headquartered in Barcelona, Galenicum is one of Spain's leading pharmaceutical groups with an annual turnover of €100mln.
The company was awarded "Business of the Year" in 2013/2014 in the European Business Awards.
OptiBiotix said the agreement will expand sales of LP-LDL into the Middle East and Latin America where heart disease accounts for half of deaths and often are the result of high blood pressure (hypertension).
"Product sales are difficult to estimate in these new territories and markets but are likely to be in the low to mid six figure in the near term and growing as Galenicum builds market presence," said the statement.
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Stephen O'Hara, Optibiotix’s chief executive, added Galenicum was chosen as a partner due to its leading position in the pharmaceutical industry, presence in new territories, and record of double digit sales growth.
“We see this agreement as another step in building multiple revenue streams with LP-LDL as the 'Intel inside' different presentations and formulations developed with leading industry partners to access consumer and pharmaceutical markets around the world."
OptiBiotix has been a pioneer of products based around the human microbiome, which is essentially the bacteria that inhabits the gut and skin.
Small changes to the gut flora can affect the way the human body processes food, which has led to a range of products being developed that are approaching the commercial stage.
O'Hara added that since June Optibiotix has signed six deals involving LP-LDL, which he described as a phenomenal rate of sign-ups.
Shares rose a touch to 70.55p.
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