11th May 2020 12:56
(Alliance News) - OptiBiotix Health PLC on Monday said it has granted MAXCARE Inc the exclusive right to commercialise its SlimBiome weight management product in Taiwan.
The distribution agreement signed between life sciences firm OptiBiotic and Taiwanese nutraceuticals, fruit and botanical extracts company MAXCARE grants market exclusivity linked to minimum tales targets. Financial terms of the deal were not disclosed.
Business Development Manager Thomas O'Hara said: "We are pleased to have signed an agreement with MAXCARE to commercialise our award-winning weight management technology in Taiwan. We chose MAXCARE due to their experience in commercialising weight management ingredients and their understanding of the value proposition SlimBiome provides to their customers. Having a trained team of registered dieticians that can provide technical support allows them to clearly convey the benefits and value SlimBiome can add to a range of products.
"MAXCARE has placed an initial trial order on signing the agreement as a result of early interest received from introducing SlimBiome to their customers. We look forward to continuing the current trajectory of SlimBiome and increasing the countries, applications, products, revenues and overall global brand value in the months and years ahead."
According to OptiBiotix, the deal is "another strategic step" in the commercialisation of SlimBiome into new markets. This follows a number of SlimBiome deals.
For example, on Tuesday last week, OptiBiotix inked a three-year product distribution agreement with Singapore-based Pierce Group granting exclusive rights to import and commercialise OptiBiotix's SlimBiome and LPLDL products to manufacture, develop, and sell a range of finished products to China and Hong Kong.
This followed a non-exclusive licence agreement with Smart For Life, announced on Monday last week, allowing it to launch cookies containing SlimBiome in the US and Canada.
Shares in OptiBiotix were up 0.7% at 56.40 pence in London on Monday.
By Anna Farley; [email protected]
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