OptiBiotix Health PLC (LON:OPTI) has amended its relationship with CTC Group, the company that is distributing and selling its CholBiomex3 product in the Philippines.
The new agreement extends the product range from the distribution of CholBiomeX3 to include LPLDL as a bulk ingredient and three additional products: CholBiome, CholBiomeBP and CholBiomeVH.
READ OptiBiotix Health subsidiary ProBiotix signs distribution deal for Philippines with CTC Group unit
The number of territories covered by the agreement has been extended from the Philippines to include non-exclusive distribution rights for Vietnam, Indonesia, Colombia, the Dominican Republic and Guatemala.
The agreement is for an initial period of 24 months and has minimum order quantities for each product and country with a three-year business plan and forecast to allow production planning.
“The agreement recognises the success of CTC with CholBiomeX3 in the Philippines and extends the terms, territory, and product range to support sales growth,” Mikkel Hvid-Hansen, the commercial director of OptiBiotix subsidiary, ProBiotix Health said in a statement.
“This is another step in extending the geographical reach of LPLDL as an ingredient and in final product to build recurring revenue streams and brand recognition across more and more territories around the world,” he added.