4th May 2020 13:28
(Alliance News) - OptiBiotix Health PLC on Monday said it has signed a non-exclusive licence agreement with Smart For Life Inc for the launch of cookies containing its SlimBiome weight loss product.
The agreement covers OptiBiotix's SlimBiome trademark and the launch of cookies containing SlimBiome in the US and Canada. Smart For Life is based in the US and sells weight management products.
Life sciences firm OptiBiotix said the deal is contingent upon Smart For Life meeting an annual minimum order quantity, as well as obtaining its first order within 30 days of the contract's signing. Financial terms were not disclosed.
Fred Narbel, managing director of OptiBiotix's Prebiotics division, said: "We are very pleased to have signed an agreement with Smart For Life to use our award-winning weight management technology and related trademark to market and commercialise products containing SlimBiome in the US and Canada. Smart For Life are an ideal partner because they understand the science behind SlimBiome and are able to explain the value proposition clearly to their customers and distributors. Moreover, this commercial launch builds on the manufacturing agreement signed with Agropur to produce SlimBiome in North America as it provides Smart For Life with a local source of supply."
OptiBiotix's shares were flat at 56.00 pence in London in early afternoon trading.
By Anna Farley; [email protected]
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