OptiBiotix Health plc (LON:OPTI) has signed a non-exclusive licence agreement with Taiwanese probiotics firm Bened Biomedical Ltd to produce and market products containing its cholesterol and blood pressure-reducing LPLDL strain in the country.
Under the three-year agreement, Bened will produce, package, promote, market, and commercialise products containing the LPLDL strain, with the aim of maximising financial return for both companies.
WATCH: OptiBiotix Health creating multiple channel opportunities across its portfolio
The agreement follows a memorandum signed between AIM-listed OptiBiotix and Bendel last September, which provided a 12-month period to explore licensing and sales opportunities for the LPLDL strain.
A similar licensing agreement for Opti’s cholesterol-lowering bacteria was also signed with an unnamed US firm last week, who plans to use the bacteria to create a high-value pharmaceutical drug, potentially generating several six and seven-figure payments for the group.
The company said the agreement would expand its sales in Taiwan, where the supplements market is expected to grow 27% by 2021, as well as having the potential to broaden its opportunities in the Asia-Pacific region.
Per Rehne, commercial director of OptiBiotix, added that the agreement, its 13th for the LPLDL strain in the last 18 months, enhanced the firm’s presence in Asia-Pacific while also allowing the firm to “offer multiple product solutions” through partnerships with consumer health and pharma companies.
In a separate announcement, OptiBiotix also announced the appointment of Sean Christie, the former finance director of FTSE 100 chemical company Croda PLC (LON:CRDA), as a non-executive director.
In mid-morning trading Monday, OptiBiotix shares were up 1.4% at 103.5p.
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