OptiBiotix Health PLC (LON:OPTI) announced that it has entered into a non-exclusive license agreement for its SlimBiome trademark with Evolution_18 and the related launch of fibre gummies containing OptiBiotix's SlimBiome proprietary weight management technology.
The life sciences business, which is developing compounds to tackle obesity, high cholesterol, diabetes and skincare, noted that Evolution_18 is a US-based company founded by Bobbi Brown who is known for turning a simple makeup line, Bobbi Brown Essentials, into a billion-dollar global brand with Estée Lauder Companies.
READ: OptiBiotix sees partnership agreements deliver strong revenue growth
Turning her focus to wellness products, she became a certified health coach and launched her wellness brand, Evolution_18, which turned out to be another success story with the listing of its products at 1,500 Walmart stores as of April 2019 and an estimated 3,000 Walmart stores in September 2019.
Dr Fred Narbel, the managing director of OptiBiotix's prebiotics division commented: “The partnership with Evolution_18 allows us to collaborate with a brand that is distributed in more than 3,000 Walmart stores in the USA and also further increase awareness of the SlimBiome brand.
“This agreement builds on the recently announced launch of SlimBiome containing products in the UK with Holland & Barrett, a partnership with OptiPharm, whose Optislim is Australia's best selling weight management brand, as well the signature of a non-exclusive agreement with Smart For Life which made SlimBiome available to customers at Walmart in the USA and Costco in Canada in early May.”
He added: "This agreement with Evolution_18 demonstrates our ability to negotiate deals with increasingly large partners around the world.
“As announced on 18 May 2020, this has led to a change in the nature of our discussions with prospective commercial partners as we no longer have to demonstrate the validity or commercial value of our science leading to more deals (70%) expected to deliver revenues in the first year of agreement compared to 2019 (35%)."