OptiBiotix Health PLC (AIM:OPTI) said it has struck a commercial deal with one of the world leaders in flavourings and ingredients.
Its deal with Switzerland’s Firmenich, which also produces perfumes, will see the two companies develop new products containing OptiBiotix's SweetBiotix low-calorie alternative to sugar.
The tie-up grants Firmenich the right to manufacture and sell SweetBiotix products as ingredients or in final products in return for undisclosed, sales-based milestone and royalty payments.
“The agreement brings together Firmenich's research, development, manufacturing and supply chain expertise with OptiBiotix's IP portfolio and leading expertise in the human microbiome,” explained the UK group’s chief executive, Stephen O’Hara.
“We believe that this agreement will help both companies collectively bring better science and better health to more people around the world.”
Founded in Geneva in 1895, Firmenich is a creator and manufacturer of perfumes, flavours and ingredients. It is also the world’s biggest supplier of the sweetener Stevia.
OptiBiotix has developed a suite of products to tackle obesity, high cholesterol and diabetes that interact with the human microbiome in the gut.