OptiBiotix Health PLC (LON:OPTI) said it has received a licence from the Food Standards and Safety Authority India (FSSAI) for its award-winning weight management product, SlimBiome to be manufactured in India.
The AIM-listed life sciences firm said approval was gained by OptiBiotix's manufacturing partner, Zeon Life Sciences, for both SlimBiome and SlimBiome containing products.
It pointed out that FSSAI licence approval involves both ingredient and quality verification to ensure the product and manufacturing process is of a high standard and is an essential regulatory requirement to manufacture and distribute food products in India.
The licence approval allows Zeon to fulfil orders arising from OptiBiotix's recent visit to India for SlimBiome and SlimBiome containing products in its own manufacturing site.
The group said: ”This is a strategic step by OptiBiotix to add manufacturing in Asia to the supply chain and extend the market opportunity for its patented award-winning weight management product into the fast-growing Indian market with an established partner.”
It noted that Zeon includes major Indian and international healthcare companies such as Danone, GNC, Decathlon, Sun Pharma and Herbalife amongst its customers and was awarded Nutraceutical Manufacturing Company of the Year in 2017 by The Associated Chambers of Commerce and Industry of India.
Stephen O'Hara, OptiBiotix’s CEO commented: "Achieving FSSAI approval so quickly is a significant achievement and is an important step in completing the supply chain to meet the needs of existing and new corporate partners in India and Southern Asia.
“This agreement is another step in a strategy designed to build multiple revenue streams from ingredient sales, and white label and own label branded consumer and pharmaceutical products across multiple channels with industry partners from around the world."
OptiBiotix revealed at the start of January this year that it had inked an agreement with Zeon, granting the firm an exclusive licence to manufacture and supply SlimBiome in India in return for a 50% share of the profits.