OptiBiotix Health PLC (LON:OPTI) has entered into a non-exclusive agreement for Cambridge Commodities Ltd (CCL) to distribute its SlimBiome weight management technology in the UK.
The AIM-listed firm said the SlimBiome product will be purchased from OptiBiotix and distributed as a specialised branded functional ingredient by CCL - a privately-owned firm which has 10 sales offices covering UK, Europe, USA and South Africa.
WATCH: OptiBiotix inks deal with Cambridge Commodities to distribute SlimBiome in UK
The company said in a statement that the agreement with CCL is complementary to the deal it signed with Knighton Food Ltd on 1 November 2017, as it extends SlimBiome’s commercial reach into new application areas where CCL has specific sector expertise, such as sports, health & wellbeing and ingredients sectors.
Stephen O’Hara, CEO of OptiBiotix, commented: “We believe working with CCL, and similar partners around the world, provides the best opportunity to expand the range of applications for SlimBiome to a wide range of industry sectors.”
He added: “This agreement is another step in our low-cost approach to growing revenues by building manufacturing, formulation/application and distribution partnership which provide revenues across the whole value chain in multiple industry sectors.”