OptiBiotix Health PLC (LON:OPTI) has announced that it has entered into an agreement with a global corporate for its SweetBiotix low-calorie sweet fibres.
The FTSE 100-listed firm said the agreement sets out the terms and grants exclusivity, for a period of six months, to negotiate a license agreement for the scale-up, manufacture and distribution of its SweetBiotix product.
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The life sciences company said it will receive monthly payments during this exclusivity period amounting to a six-figure sum
OptiBiotix did not reveal the name of the company, but said it is a global supplier of nutritional and agricultural products to companies around the world with an annual turnover exceeding US$100bn.
Stephen O'Hara, CEO of OptiBiotix, commented: “This is the second agreement with global partners for products created from our SweetBiotix development programmes. This is part of a strategy of working with global partners to support scale-up, manufacture and commercialisation of a range of SweetBiotix products in well-known consumer brands.”
He added: “With international concerns over the balance of sugars and fibres in consumer diets rising, OptiBiotix's is at the forefront of product development in this area of growing industry and commercial interest."
In a note to clients, analysts at finnCap said: “Whilst there is no certainty that the negotiations will lead to a full licence, this agreement could be very substantial given the scale of the corporate with which it has had initial discussions.”
In morning trading, OptiBiotix shares jumped 3.8% to 67.00p.
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