OptiBiotix Health PLC (LON:OPTI) has signed an exclusive licence agreement for its OptiBiome weight loss ingredient with Australian firm OptiPharm Pty Ltd.
The AIM-listed firm said the deal for OptiBiome, an alternative trademark for its SlimBiome product, will grant OptiPharm exclusive use of the brand in over 20 markets including Australia, parts of Asia, New Zealand, the Middle East, the Gulf States and North America, which will be linked to minimum order quantities.
READ: OptiBiotix Health extends distribution footprint for consumer weight management product with enhanced deal
OptiPharm owns Optislim, the number one weight management brand in Australia which incorporates products such as shakes, soups and bars as part of total or partial meal replacements.
"We are very pleased to enter into a commercial agreement with OptiPharm to make OptiBiotix's award-winning weight management solution available to a wide range of customers through major pharmacy and supermarket retailers and online in over 20 countries”, said Fred Narbel, the managing director of OptiBiotix’s prebiotics division in a statement.
“This deal further expands our access to global markets and we are particularly pleased to have our functional ingredient sold by major retailers in more and more countries around the world creating value for our partners, customers and shareholders", he added.
The shares surged 31.3% to 43.2p in early deals on Tuesday.
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