OptiBiotix Health PLC (LON:OPTI) said it has signed an exclusive distribution agreement with United Italian Trading Corporation (UITC) for its SlimBiome Medical weight management product in the Singaporean market.
UITC is a pharmaceutical and medical device distribution firm serving a range of clients including hospitals, polyclinics, medical specialists clinics, family physician clinics, pharmacies, supermarkets and department stores.
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AIM-listed OptiBiotix said exclusivity in the deal is subject to UITC placing its first order for SlimBiome Medical by the end of November for a minimum of 3,000 boxes with increasing annual sales targets.
The company added that the deal also expands the geographical reach of the product into South East Asia following previous launches in the UK, the Middle East and the US.
"We are pleased to have signed an agreement with UITC to distribute our award-winning medical device in Singapore. UITC contacted us expressing an interest in our CE-marked medical device after carefully reviewing our peer-reviewed publications underlining the recognition and reputation OptiBiotix is establishing globally for its brands and scientific work", said Fred Narbel, managing director of OptiBiotix's prebiotics division.