OptiBiotix Health PLC (LON:OPTI) said it has entered into a non-exclusive license agreement for its SlimBiome Medical proprietary weight management product with HiLife Vitamins & Herbs Co Inc. in the USA.
The life sciences business, which is developing compounds to tackle obesity, high cholesterol, diabetes and skincare, noted that HiLife is a privately owned business which was founded in 1971 to supply its local community with healthy supplements.
With the evolution of e-commerce, HiLife rapidly extended its customer base becoming one of the first online health supplement retailers in the USA, and nearly fifty years on, HiLife lists over 5000+ products online having built an established and loyal customer base across the USA, it added.
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Optibiotix said the signing of the agreement with HiLife is subject to the placing of a trial order and a six month period after which both parties will discuss the terms of the agreement to explore online exclusivity for the USA.
These discussions will follow a review of sales performance over the period, and any subsequent exclusivity agreed will be linked to minimum order quantities, the group said. Discussions to explore the manufacturing of SlimBiome Medical locally in the USA will also take place with the aim of reducing logistical and import costs as volumes increase, it added.
The move is another strategic step by OptiBiotix to commercialise its award-winning technology on an international stage in a major market, with the company exploring listings in international markets, increasing global brand exposure both as an ingredient and as a finished product in retailers and online to enhance the awareness of OptiBiotix's scientific and commercially validated technologies.
In a statement, Thomas O'Hara, business development manager at Optibiotix commented: "We are pleased to have signed an agreement with HiLife to commercialise our award-winning weight management technology in such a large and key market for weight management products. HiLife contacted us expressing an interest in our product portfolio underlining the recognition and reputation OptiBiotix is establishing in major markets. We are pleased to inform our existing US customer base that SlimBiome® Medical can now be locally purchased in the USA online at: https://hilifevitamins.com/products/slimbiome-medical-060609990190."
Susan Rubin, owner at HiLife added: "We are honored and proud to have signed an agreement with Optibiotix. With a strong local and e-commerce presence, HiLife Vitamins saw a tremendous opportunity to bring patented award-winning weight management products into the US. As we are expanding our product selections for our customers, we wanted to bring something unique to the US market. Slimbiome® Medical is a clinically proven, science-backed natural supplement to aid with effective weight management."