21st Jan 2015 08:23
LONDON (Alliance News) - Optibiotix Health PLC Wednesday said it has signed a joint venture with NIP BV, a unit of NIZO Food Research BV, to develop, manufacturer and deliver weight management yoghurt and other dairy products.
Optibiotix did not provide any financial details on the deal, but said the joint venture is a continuation of the deal signed in October to incorporate Optibiotix's weight management formulation into fruit yoghurts made by NIZO.
"This announcement is consistent with OptiBiotix's strategy of creating technology platforms which create multiple product and partnering opportunities and is the start of a process to build a strong and sustainable business," said Optibiotix Chief Executive Officer Stephen O'Hara.
Optibiotix shares were up 10% to 24.52 pence on Wednesday morning, one of the best performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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