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OptiBiotix Health signs Russia and Kazakhstan distribution deal

The company is teaming up with SilvExpo, a local pharmaceutical and nutraceutical business

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Dawning opportunity: The Russian probiotics market on its own is estimated by the firm to be worth €340mln

OptiBiotix Health plc (LON:OPTI) has inked a distribution agreement that will see its cholesterol and blood pressure product sold in Russia and Kazakhstan.

In the latest of a series of similar commercial deals, the company is teaming up with SilvExpo, a local pharmaceutical and nutraceutical business.

WATCH: OptiBiotix’s SlimBiome gathers steam as subsidiary eyes potential IPO

OptiBiotix’s probiotic CholBiomeX3, containing the LPLDL bacteria strain, will be stocked in pharmacies in the two countries.

The Russian probiotics market on its own is estimated by the firm to be worth €340mln, and is growing at 10% annually.

"We are pleased to announce this agreement which extends the sales channel of our CholBiome products into Russia and Kazakhstan where cardiovascular disease are the leading cause of morbidity and mortality,” said commercial director Per Rehné.

“We chose SilvExpo for its knowledge and speed to market and they have shown the ability to grow product sales in challenging markets.

“This agreement is a strategic step to build the distribution sales channel for CholBiome products in Eastern Europe and we anticipate that the agreement could produce revenues quickly."

On Monday, OptiBiotix, which is developing probiotic treatments for weight loss and diabetes as well as cholesterol lowering products, signed its ninth distribution customer for the SlimBiome range.

Quick facts: OptiBiotix Health PLC

Price: 64 GBX

AIM:OPTI
Market: AIM
Market Cap: £54.68 m
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