5th May 2020 13:30
(Alliance News) - Weightloss products maker OptiBiotix Health PLC on Tuesday said it has entered into a three-year product distribution agreement with Singapore-based business-to-business product developer and distributor Pierce Group for China and Hong Kong region.
Under the agreement, Pierce unit Pierce ESIM Pte Ltd will gain 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, with the aim of maximising the financial return for both parties.
Pierce will also conduct business development activities in other Asia-Pacific geographies to advance OptiBiotix's commercial interests.
OptiBiotix said the agreement represents another strategic step to take the company's SlimBiome and LPLDL to international markets and follows over 60 commercial agreements in the last three years.
Shares in OptiBiotix were up 5.2% at 57.33 pence each in London on Tuesday afternoon.
By Tapan Panchal; [email protected]
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