Following hard on the heels of a commercial deal covering the Baltic area, OptiBiotix Health plc (LON:OPTI) has signed an agreement that will see its breakthrough cholesterol-lowering bacteria strain distributed in Japan.
For the UK group has negotiated an exclusive tie-up with the EIWA Trading Co for its LPLDL product. OptiBiotix will ship an agreed minimum volume of the cholesterol and blood pressure-reducing probiotic, Lactobacillus plantarum, which rises over the term of the three-year contract.
This “maximise the financial return for both parties, providing some surety of income”, the UK group said.
The Japanese ingredients firm plans to use LPLDL as a food and dairy ingredient as well as a supplement.
“We have chosen EIWA as they are a well-known and respected provider of probiotics to the Japanese food, dairy and supplement industries, creating the potential to extend the use of LPLDL beyond supplements in a major international market,” said OptiBiotix chief executive, Stephen O’Hara.
“This agreement is another step in OptiBiotix's strategy of building revenues and market presence of LPLDL as the 'Intel inside’ a wide range of food, dairy and supplement products around the world. We believe working with EIWA and similar partners around the world will provide the best opportunity of rapidly building LPLDL into a valuable global brand."
OptiBiotix’s has developed products for cholesterol, weight loss and diabetes that target the human microbiome – the complex system of bacteria that exists in the gut that is also thought to have an impact on health.
Last week the company agreed on a deal with Biolat for LPLDL covering Estonia, Latvia and Lithuania. And in January it found a partner with a network covering Russia and Kazakhstan.
In late morning trading, Optibiotix shares were 3% higher at 86p.
-- Adds share price --