TIDMPBX
RNS Number : 5593L
Probiotix Health PLC
04 January 2023
ProBiotix Health plc
( "ProBiotix" or the "Company")
Commercial and scientific update
ProBiotix Health p lc (AQSE: PBX), a life sciences busi ness d
eveloping probiotics to tackle cardiovascular disease and other
lifestyle conditions, provides an update on recent scientific and
commercial activities: -
1. Commencement of employment of Steen Andersen as Chief
Executive Officer (CEO) of ProBiotix: The Company announces that
Steen Andersen joined ProBiotix as CEO on 2 January 2023. Steen
brings 30 years' experience in building businesses in the
probiotics industry, having been President of Deerland Probiotics
and Enzymes, President and CEO of Bifodan, President and CEO of
Fluxome, and Vice President of Human Health at Chr. Hansen.
ProBiotix believes that Steen's industry reputation, network of
contacts, experience and track record of growing sales and
profitability will help accelerate the growth and recognition of
ProBiotix into 2023 and beyond.
2. Commercial Activity 2022: The Company reports that 2022 has
been a year of continued strong growth for ProBiotix with existing
customers increasing sales, new customers in Belgium, USA, Spain,
South America, Hong Kong, Israel and Germany contributing revenues
for the first time, e-commerce sales doubling, and growing sales in
dairy. A detailed trading update will be provided in the next few
months.
3. Growing product range in dairy: The Company reports growing
interest in the use of LP(LDL) (R) in dairy following the launch of
Yo-Life(R) with our partner Granja Pocha in Uruguay. The launch of
Yo-Life(R) represented a significant milestone for the Company as
it extended the use of LP(LDL) (R) into functional dairy foods with
a health claim ("helps reduce cholesterol"). Following the launch
of Yo-Life(R), we have seen increased use of LP(LDL) (R) in other
dairy products with the launch of spreadable cream, a drinking
yogurt, a Greek yoghurt starter culture in the USA, and a creamy
herb cheese in Canada. Of particular interest is the increased
evaluation and use of LP(LDL) (R) by large partners looking at
plant based alternatives to dairy, where LP(LDL) (R) appears to
improve the taste and texture of plant based dairy alternatives in
addition to cholesterol reducing benefits. The use of LP(LDL) (R)
in food products such as dairy/dairy alternatives is of strategic
interest as it opens up markets where volumes and sales are
significantly higher than the dietary supplement industry, with
potential for substantive growth.
4. Commercial Activity 2023: The Company reports early
indications for 2023 show another year of strong growth including
the potential for:-
a. Extension of product ranges and territories with the
Company's two largest partners, AlfaSigma and Seed Health.
b. The launch of CholBiome(R) products in Brazil with Ayalla,
following an 18 month registration period, with a health claim for
cardiovascular health. The Company believes that LP(LDL) (R) will
be the first probiotic strain ever to be registered in Brazil for
cardiovascular health, with first-mover benefits and strong
interest from the pharmaceutical industry.
c. New product launches in Hong Kong, Germany and on TMAll in
China. A number of these from companies who have already placed
orders with delivery in 2023.
d. One or more agreements with large US partners creating the
opportunity for substantive revenue growth. This will be supported
by the expansion of our CholBiome(R) range with a
phytosterol-containing product with US health claims.
e. Continued strong growth in e-commerce sales with anticipated revenues of GBP250K to GBP500K
5. Scientific Update : The Company continues its scientific
studies to support sales and marketing efforts with scientific
presentations and publications and developing the product pipeline.
This can be through exploring new probiotic strains and/or
extending the applications and use of LP(LDL) (R). Current studies
include human studies investigating the impact of LP(LDL) (R) on
sleep, stress, and anxiety, and the reduction of cholesterol in
coeliac disease. Sleep aids and stress management products are the
fastest growing category within healthcare (Goldstein Market
Intelligence, 2020) and this is another step in extending the range
of applications for our scientifically and clinically proven
products into large growing markets where there is an unmet
clinical need. The Company has had three abstracts accepted for
presentation as posters and/or oral presentations at ProBiota in
February 2023.
6. Corporate: The Company aim will continue to work with AQUIS
and explore opportunities on other markets, including AIM, to
increase liquidity in ProBiotix shares.
The Company sees 2023 as a year of opportunity and continued
growth and operational profitability, with a focus on
commercialising products across more territories, particularly the
USA with larger partners, and increasing the proportion of final
product to ingredient sales to partners and via our e-commerce
platform. This will be supported by a developing product pipeline
with new probiotic strains and extending the applications and use
of LP(LDL) (R) into new areas, all supported by strong science and
human studies.
The scale of the market opportunity in probiotics is large,
particularly outside the traditional gut health and health and
wellbeing markets, where growth is slowing. This is increasing
interest in ProBiotix and its products from larger partners looking
to sustain future growth. The proven safety and efficacy of our
products, the substantial scope for expansion of our range and
geography, and the appointment of a proven commercial industry
leader, allow us to look to 2023 with confidence and
enthusiasm.
Stephen O'Hara, Director of ProBiotix, commented: "The
recruitment of Steen Andersen as CEO to ProBiotix brings in an
established industry figure to lead the Company into its next stage
of development.
"With growing sales, operational profitability, and a clear
strategic focus on growing the business by commercialising
ingredients and final products across more territories and more
application areas with existing and new partners, we look forward
to 2023 with great confidence and excitement. We thank our
investors for their continued support and look forward to building
a valuable and profitable business."
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:
ProBiotix Health plc https://probiotixhealth-ir.com/
Stephen O'Hara, Chief Executive Contact via Walbrook
below
Peterhouse Capital Ltd (AQSE Corporate Adviser Tel: 020 7220 9797
and Broker)
Mark Anwyl Tel: 020 7469 0930
Duncan Vasey
Walbrook PR Ltd probiotix@walbrookpr.com
Anna Dunphy Mob: 07876 741 001
Save as set out below, there is no further information regarding
Steen Dannemann Andersen (age 59) that is required to be disclosed
pursuant to Rule 4.9 of the AQSE Growth Market Access Rulebook.
Current Directorships Former Directorships
ProBiotix Health plc Biofadan A/S
Biofadan Inc
Deerland A/S
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END
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January 04, 2023 02:00 ET (07:00 GMT)
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