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US deal launches OptiBiotix's LPLDL probiotic into huge pharma space

Per Rehne, commercial director at OptiBiotix Health plc (LON:OPTI), tells Proactive's Andrew Scott they've licensed out their cholesterol-lowering bacteria to an unnamed US company, which plans to use it to create a high-value pharmaceutical drug.

Discussing some of the numbers involved, Rehne says Opti will receive a six-figure payment on the official signing of the agreement and two ‘milestone’ awards totalling seven figures.

An additional six-figure amount, plus royalties on future sales, would be due if a product was launched.

Furthermore they'll receive a seven-figure payment should the American business decide to exercise its option to broaden the licence agreement out to a global deal.

 
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