OptiBiotix Health PLC (AIM: OPTI) has announced a significant deal with one of the leading retailers of health supplements.
Holland & Barrett, with over 1,300 stores in 16 countries, will stock the company’s weight management product SlimBiome.
OptiBiotix said the international chain was an “ideal partner” because of its “knowledge and experience in marketing functional food supplements”.
It added that the partnership would help build “product awareness, enhances product credibility, and builds brand identity, which helps advance commercial discussions in overseas markets”.
“This is another step in building sales of SlimBiome across the world as we leverage newsflow of launches and awards and look to replicate similar deals in North America, India, Australia, and other major territories in 2020,” explained Fred Narbel, managing director of the company’s prebiotics division.
The Holland & Barrett deal is the 22nd commercial partnership for SlimBiome, but the first with a major retailer.
“We note the significance of the SlimBiome brand being marketed by a global market player, further enhancing brand awareness among both consumers and other potential partners,” said goetzpartners securities.
The shares weakened a little in afternoon trade to 56p. Reiterating its ‘outperform’ recommendation, goetzpartners reckons the stock is worth 97p.
As well as developing weight-loss products, the AIM-listed life sciences company has created compounds to tackle high cholesterol, diabetes and for use in skincare.
Its focus is controlling the interactions of human microbiome, an ecosystem of bacteria that resides in the gut and on the skin.
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