26th Jul 2016 10:15
LONDON (Alliance News) - OptiBiotix Health PLC on Tuesday said it has acquired a majority stake in The Healthy Weight Loss Co following the successful completion of the trial launch for OptiBiotix's Slimbiome ingredients in Health Weight Loss products.
OptiBiotix develops compounds to tackle obesity, high cholesterol, diabetes and skin care, and its weight-loss Slimbiome ingredients in food have been shown to reduce calorie intake by more than 20% along with reduced levels of cravings, OptiBiotix said.
Working in partnership with The Healthy Weight Loss Co, OptiBiotix carried out a test launch of Slimbiome in The Healthy Weight Loss Co's new GoFigure snacks and meal replacement shakes, and following successful completion of this has acquired 51% of The Healthy Weight Loss Co to create a joint venture.
GoFigure was launched online in June and will be sold in stores from August. Early web-based sales are out-performing expectations, OptiBiotix said.
"We are really pleased at the results from the trial and early consumer feedback which provides market evidence for the efficacy of Slimbiome in reducing calorie intake and managing weight loss, which will help leverage discussions with international partners on use of Slimbiome as a supplement and food and dairy ingredient," Chief Executive Stephen O'Hara said in a statement.
"We are delighted to partner with the management of The Healthy Weight Loss Company who have extensive experience in the weight management sector. This partnership creates a platform to take our technology developments to market on an accelerated basis providing early consumer feedback which will use to develop future product opportunities both nationally and on a global basis," he added.
No financial details of the acquisition were disclosed.
Shares in OptiBiotix were trading up 3.3% at 78.50 pence on Tuesday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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