OptiBiotix Health PLC Exclusive sales and distribution agreement (6489V)
December 15 2021 - 12:59AM
UK Regulatory
TIDMOPTI
RNS Number : 6489V
OptiBiotix Health PLC
15 December 2021
OptiBiotix Health plc
("OptiBiotix" or the "Company" or the "Group")
Exclusive sales and distribution agreement with Nahdi Medical
Co
One of the leading Saudi Arabian pharmacy chains
OptiBiotix Health plc (AIM: OPTI), a life sciences business
developing unique science and human study-based compounds that
modulate the microbiome to address metabolic syndrome and diabetes,
systemic low-grade inflammation, obesity, cardiovascular disease,
high cholesterol and to support healthy aging has signed an
exclusive supply agreement with pharmacy chain Nahdi Medical Co.
("Nahdi") for the sales of its GoFigure and SlimBiome(R) Medical
weight management product range in the Kingdom of Saudi Arabia
("KSA").
Nahdi owns the largest pharmacy network in the KSA with over
1100 pharmacy outlets countrywide. Nahdi's online platform, Nahdi
Online, is one of the leading e-commerce pharmacy player across the
six countries of the Gulf Cooperation Council (GCC)
https://www.nahdionline.com/en/ .
The in-store launch is planned for H1 2022 and will
progressively expand into Nadhi's pharmacy network and its online
platform. The launch will initially include seven products
encompassing OptiBiotix's direct-to-consumer (D2C) own brands
Gofigure(R) and SlimBiome(R) Medical range of weight management
products including multi award winning weight management ingredient
SlimBiome (R) . The initial product range launched will combine
meal replacement shakes, bars and sachet options and once
successful, will be expanded with additional product offerings.
As part of this launch the OptiBiotix products will be
registered with the Saudi Food and Drug Authority (SFDA) which is
of strategic importance to both Nahdi and OptiBiotix as it
facilitates the registration processes in the other GCC countries (
Bahrain , Kuwait , Oman , Qatar and the United Arab Emirates ).
Obesity is an area of urgent concern in the KSA as it is seen as
one of the key health challenges for Saudis resulting in wider
implications to the economy. A recent survey conducted by the World
Obesity Federation revealed that almost 50% of the people in the
KSA are overweight or living with obesity
https://www.worldobesity.org/news/wof-mena-press-release .
This agreement is another example of OptiBiotix' strategy to
expand the geographical footprint of its pro- and prebiotic
products providing science backed solutions with leading brands in
the health & wellness market.
René Kamminga, C EO of O pti B i oti x Limited, c o mmented :
"We are very pleased to announce this sales and distribution
agreement with Nahdi Medical, a leading pharmacy chain in the KSA.
Our SlimBiome (R) Medical and GoFigure(R) range of weight
management products have been specifically formulated to support
consumers aiming to reduce their weight, help them stick to their
change in diet and improve their gut microbiome at the same time.
We are very pleased that Nahdi selected our science backed
differentiated range of products as the primary choice to offer its
consumers to help address the rising rates of obesity seen across
the KSA . This is the third agreement with a large partner in as
many weeks, each with similar revenue potential which we believe
will make a significant contribution to OptiBiotix's growing
revenue in the years ahead."
This announcement contains information which, prior to its
disclosure, was considered inside information for the purposes of
the UK Market Abuse Regulation and the Directors of the Company are
responsible for the release of this announcement.
For further information, please contact:
OptiBiotix Health plc www.optibiotix.com
Stephen O'Hara, Chief Executive Contact via Walbrook
below
Cairn Financial Advisers LLP (NOMAD) Tel: 020 7213 0880
Liam Murray / Jo Turner / Ludovico Lazzaretti
Cenkos Securities plc (Broker) Tel: 020 7397 8900
Callum Davidson / Neil McDonald
Michael Johnson / Russell Kerr (Sales)
Walbrook PR Ltd Mob: 07876 741 001
Anna Dunphy
Caution regarding forward looking statements
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assumptions. These forward looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements re ect the Directors' current beliefs
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the Directors.
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