28th Jan 2020 13:02
(Alliance News) - OptiBiotix Health PLC on Tuesday said it has extended the terms and territories of its distribution agreements with CTC Holding BV and Cambridge Commodities.
The life sciences company said the deals cover the distribution of SlimBiome, SlimBiome Medical and GoFigure.
The new contract with CTC - which was signed for an initial period of 18 months - extends the product range from the distribution of SlimBiome to include SlimBiome Medical and GoFigure, OptiBiotix said. It also extends the number of territories with non-exclusive distribution rights from the Philippines, Vietnam, Indonesia and Colombia to include the Dominican Republic and Guatemala.
Turning to agreement with Cambridge Commodities, OptiBiotix said it now includes distribution of its products in Ireland. It also provides exclusive distribution rights for SlimBiome in the UK and was signed for an initial period of 24 months.
Renewal of both contracts is linked to sales targets, OptiBiotix said.
These agreements recognise the success of both these partners in building sales of SlimBiome and extends terms and territory to support further sale growth, supported by minimum sales targets," said OptiBiotix's Prebiotics Managing Director Fred Narbel.
"This is another step in extending the geographical reach of SlimBiome as it builds recurring revenue streams and brand recognition across the world," added Narbel.
OptiBiotix shares were trading 3.7% lower in London on Tuesday at 52.94 pence each.
By Evelina Grecenko; [email protected]
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