OptiBiotix Health PLC (LON:OPTI) shares rose on Monday as the firm announced that it has entered into a non-exclusive license agreement for its SlimBiome trademark with Smart For Life, Inc. and related launch of cookies containing OptiBiotix's SlimBiome proprietary weight management technology in the USA and Canada.
The life sciences group, which is developing compounds to tackle obesity, high cholesterol, diabetes and skincare, said the license is contingent on an annual minimum order quantity and the first order within thirty days of signing the agreement.
Smart For Life - https://www.smartforlife.com - is a US-based company that was founded in 2002 by Dr Sasson Moulavi, a bariatric doctor. It develops and sells scientifically formulated weight management solutions that balance fibre, protein and complex carbohydrates to help naturally suppress appetite and works with natural ingredients which are scientifically backed.
The company said this is another commercial strategic step by OptiBiotix to facilitate customer access to its award-winning SlimBiome technology as the Smart For Life cookies are available online, at Walmart in the USA and soon at Costco in Canada.
In a statement, Dr Fred Narbel, managing director of Optibiotix's prebiotics division commented: "We are very pleased to have signed an agreement with Smart For Life to use our award-winning weight management technology and related trademark to market and commercialise products containing SlimBiome in the USA and Canada. Smart For Life are an ideal partner because they understand the science behind SlimBiome and are able to explain the value proposition clearly to their customers and distributors.
“Moreover, this commercial launch builds on the manufacturing agreement signed with Agropur to produce SlimBiome in North America as it provides Smart For Life with a local source of supply."
In early trade on Monday, shares in Optibiotix were 4.7% higher at 58.50p.
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