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OptiBiotix signs distribution deal for GoFigure products in South Africa

OptiBiotix said the agreement is "another strategic step" to take its GoFigure products to international markets

OptiBiotix Health PLC -

OptiBiotix Health PLC (LON:OPTI) has clinched a deal with a South African partner for the distribution of its GoFigure weight management products.

Under the agreement, the partner will have exclusive rights to import, market and distribute OptiBiotix's GoFigure products in South Africa and neighbouring countries for 12 months.

The partner, which wishes to remain anonymous until the official launch date of GoFigure in South Africa has been confirmed, has more than 20 years of experience in the pharmaceutical and health and wellness markets.

GoFigure contains OptiBiotix’s SlimBiome weight management technology with products ranging from shakes to muesli and flapjacks.  

The market for slimming products in South Africa and nearby countries is worth ZAR3.8bn (£210mln), according to research by Pharma Dynamics.

“The agreement is another strategic step to take OptiBiotix's GoFigure products to international markets which is important as it builds brand recognition, enhancing brand value and creates a further demand for SlimBiomethe functional ingredient within GoFigure products,” said Dr Fred Narbel, managing director of OptiBiotix’s prebiotics division.

“This is an exciting second step in taking OptiBiotix's own label GoFigure products to international markets and follows on the announcement of an earlier deal in Poland.”

Quick facts: OptiBiotix Health PLC

Price: 50 GBX

AIM:OPTI
Market: AIM
Market Cap: £42.72 m
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