OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care, announces that it has entered into a three year supply agreement with Galenicum Special Ingredients, S.L (“Galenicum”) to commercialise products containing OptiBiotix’s cholesterol and blood pressure reducing strain, LPLDL®.
The agreement grants Galenicum a non-exclusive license to commercialise Cardiocare™, a nutritional supplement containing OptiBiotix’s LPLDL® in Spain, Chile, Peru and the Middle East with the aim of maximising the financial return for both parties.
Galenicum is the food division of Galenicum Health, S.L., one of Spain’s leading pharmaceutical groups with an annual turnover of ca. €100 M and a year-on-year double-digit growth. Headquartered in Barcelona, and with offices or market presence across the world including the Unites States, Peru, Chile, India, and China, the company has a global reach in pharmaceutical and nutritional markets. Galenicum Health, S.L., has an international reputation for high quality innovative products and was awarded the prestigious European Business Award of “Business of the Year” in 2013/2014.
This agreement expands OptiBiotix’s sales into the Middle East and Latin America where cardiovascular disease accounts for up to half of adult deaths with chronic high blood pressure (hypertension) seen as one of the leading contributory factors.
Product sales are difficult to estimate in these new territories and markets but are likely to be in the low to mid six figure in the near term growing as Galenicum builds market presence.
LPLDL®, with its unique ability to reduce both cholesterol and blood pressure, will be sold as part of Galenicum’s established STOP&GO product range branded as Cardiocare™, and provides a clinically proven natural product to help reduce cardiovascular risk factors and disease.
Stephen O’Hara, CEO of OptiBiotix, commented: “We are pleased to announce this agreement with Galenicum which expands sales of LPLDL® into Latin America and the Middle East where high blood pressure and high cholesterol are significant causes of morbidity and mortality.
We chose Galenicum due to its leading position in the pharmaceutical industry, presence in new territories, and record of double digit sales growth. We believe that working with Galenicum, and similar partners around the world, provides the best opportunity of rapidly building LPLDL® into a leading global brand.
We see this agreement as another step in building multiple revenue streams with LPLDL® as the ‘Intel inside’ different presentations and formulations developed with leading industry partners to access consumer and pharmaceutical markets around the world.”
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