OptiBiotix Health PLC (LON:OPTI) were higher on Monday folllowing news the firm has signed a license agreement which will see its cholesterol-reducing LPLDL strain used in a new vascular health product across Europe.
The deal, which covers 27 countries, largely in Europe, but also Russia and Singapore, is with Norwegian firm Kappa Bioscience, which will combine LPLDL with its K2VITAL vitamin.
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While LPLDL works to lower cholesterol and blood pressure, K2VITAL keeps calcium in the bones and away from the blood vessels improving vascular health.
The combination of both ingredients creates a product which has the potential to reduce a number of independent cardiovascular risk factors and improve cardiovascular health, Opti said.
‘Broadens use of LPLDL’
“We are delighted to announce this deal with Kappa which will combine two clinically proven branded ingredients into a unique formulation designed to reduce a number of independent cardiovascular risk factors,” said OptiBiotix business development director, Luis Gosalbez.
“This broadens the use of LPLDL beyond cholesterol reduction and creates new market opportunities in the field of cardiovascular health. The result is a new product for vascular health, a segment of cardiovascular care where very few products are currently available.”
He added: This means we are able to derive revenue from both the sale of a wide range of cardiovascular health products containing LPLDL, as well as LPLDL ingredient sales.
OptiBiotix’s preferred development and production partner, Nutrilinea in Milan, will cover the costs of development and will be the manufacturer of the final product.
Kappa and Opti will commercialise the product leveraging their existing and new distribution networks.
In afternoon trading, Optibiotix shares were 2.4% higher at 86p.
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