logo-loader
viewOptiBiotix Health PLC

OptiBiotix Health inks distribution deal covering Greece and Cyprus

The unnamed local partner for CholBiome was chosen for its distribution network

cholesterol test
The company has developed CholBiome to combat cholesterol and high blood pressure

OptiBiotix Health plc (LON:OPTI) shares rose on Thursday following news the firm has signed a distribution agreement for its cholesterol and blood pressure reducing LPLDL bacteria strain in Greece and Cyprus.

The unnamed local partner for CholBiome was chosen for its customer network, which also covers the Middle East and its track record of promoting and developing products. It also has access to a number of international clinics.

READ: OptiBiotix inks agreement to manufacture LPLDL in US market

Optibiotix has granted an exclusive three-year deal, which is subject to hitting certain sales targets, in return for local product registrations. No financial details were mentioned.

In September, the company inked a distribution contract for Bulgaria, while CholBiome is now on sale in the UK online.

“This agreement is a strategic step to build the distribution sales channel for CholBiome products in the European market and eliminates intermediates in the supply chain with a shorter route to market and higher value to OptiBiotix,” said OptiBiotix commercial director Per Rehné.

“The company has already placed an initial order to be used for pre-marketing activities and we expect further orders to support a consumer launch in the first-quarter of 2019."

In early morning trading, OptiBiotix shares were up 0.8% at 66.50p.

 -- Adds share price --

Quick facts: OptiBiotix Health PLC

Price: 53 GBX

AIM:OPTI
Market: AIM
Market Cap: £45.28 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of OptiBiotix Health PLC named herein, including the promotion by the Company of OptiBiotix Health PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

OptiBiotix Health growing its ProBiotix Health commercial team in Europe

Steve Prescott, CEO of OptiBiotix Health PLC's (LON:OPTI) ProBiotix Health division, speaks to Proactive London while in Europe to meet with some of their key customers and suppliers. Prescott updates on discussions he's having with a major European probiotic company about a new product as...

3 days, 14 hours ago

2 min read