OptiBiotix Health PLC OptiBiotix signs US pharmaceutical deal (6336Z)
September 04 2018 - 1:00AM
UK Regulatory
TIDMOPTI
RNS Number : 6336Z
OptiBiotix Health PLC
04 September 2018
OptiBiotix Health plc
("OptiBiotix")
OptiBiotix signs US pharmaceutical deal
for its cholesterol reducing Lactobacillus plantarum strain
OptiBiotix Health plc (AIM: OPTI), a life sciences business
developing compounds to tackle obesity, high
cholesterol and diabetes, announces that it has entered into an
agreement with a US company ("The Company") for the use of its
cholesterol reducing Lactobacillus plantarum strain as a
pharmaceutical drug product.
The agreement grants The Company an exclusive license in return
for it taking responsibility for all development, pre-clinical and
human clinical testing, regulatory filings and approvals, product
manufacture, marketing, and product sales in the US Therapeutics
market. OptiBiotix will be responsible for the manufacture of its
Lactobacillus plantarum strain to pharmaceutical drug standards.
The Company has an option, conditional on certain development
milestones and further payments, to obtain a worldwide license
(excluding India and Pakistan) under the same conditions.
OptiBiotix will receive a six figure payment from The Company at
signing and at two subsequent conditional milestones, amounts
totalling a seven-figure sum. An additional six-figure sum, plus
royalties on future product sales, are due on product launch. There
is an additional seven-figure payment should The Company decide to
exercise its option at any point.
The Company requires its identity and the terms of the agreement
to remain confidential to protect its commercial interests and no
further details can be disclosed. Further announcement will be made
in due course.
Stephen O'Hara, CEO of OptiBiotix, commented: "We are pleased to
announce this agreement which extends the opportunities provided by
OptiBiotix's cholesterol reducing Lactobacillus plantarum strain
into the high value pharmaceutical drug market. The agreement
allows our US partner to develop our strain as a pharmaceutical
drug product in return for upfront, development and product launch
milestones payments, plus royalties on future product sales. This
is a substantive investment by our US partner which recognises the
potential of our strain and the scale of the opportunity in one of
the largest and fastest growing markets around the world."
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
finnCap (Broker) Tel: 020 7220 0500
Geoff Nash/ Scott Mathieson / Kate Bannatyne
(Corporate Finance)
Camille Gochez (Corporate Broking)
Walbrook PR Ltd Tel: 020 7933 8780 or optibiotix@walbrookpr.com
Anna Dunphy Mob: 07876 741 001
Lianne Cawthorne Mob: 07584 391 303
About OptiBiotix - www.optibiotix.com
OptiBiotix Health plc (AIM: OPTI), which was formed in March
2012, brings science to the development of compounds which modify
the human microbiome - the collective genome of the microbes in the
body - in order to prevent and manage human disease and promote
wellness.
OptiBiotix has an extensive R&D program working with leading
academics in the development of microbial strains, compounds, and
formulations which are used as active ingredients and supplements.
More than twenty international food and healthcare supplement
companies have signed agreements with OptiBiotix to incorporate
their human microbiome modulators into a wide range of food
products and drinks.
OptiBiotix is also developing its own range of consumer
supplements and health products. The Company's current areas of
focus include obesity, cardiovascular health, and diabetes.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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