7th Feb 2019 10:40
LONDON (Alliance News) - OptiBiotix Health PLC on Thursday said it has entered a three-year supply agreement with Latvia-based firm Biolat JSC covering Estonia, Latvia and Lithuania.
OptiBiotix is a life sciences firm which develops microbial trains, compounds, and formulations for use in supplements. It is also developing its own range of supplements and health products.
Under the agreement, Biolat will have a non-exclusive licence to package and commercialise food products containing OptiBiotix's lactobacillus plantarum product. OptiBiotix claims this strain has been shown in trials to lower both cholesterol and blood pressure.
OptiBiotix said Biolat is a leading player in pharmacy distribution within the Baltics region.
"We decided to partner up with Biolat for their experience in the field of natural products manufacturing and distribution and their knowledge of this geographic area. They also have an outstanding track record of successful product launches leading to long-term revenue generation and growth," said OptiBiotix Chief Executive Stephen O'Hara.
The value of the agreement has not been disclosed.
Shares in OptiBiotix were down 0.7% at 83.90 pence on Thursday.
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