2nd Apr 2020 12:29
(Alliance News) - OptiBiotix Health PLC on Thursday said it has signed a manufacturing agreement with Denmark-based Fipros AS to ensure supply-chain continuity in case of a "hard Brexit".
The life sciences firm said the manufacturing agreement grants Fipros the rights to utilise OptiBiotix's intellectual property to manufacture SlimBiome under licence, thereby derisking its supply chain in case of a hard Brexit as the agreement creates a source of supply in the European Union to support the commercial launch of SlimBiome in Poland.
SlimBiome is OptiBiotix's weight management product.
"We are very pleased to work with Fipros to manufacture SlimBiome within the European Union. The agreement is key as it helps us lower the cost of trade, support our existing and future European distributors and build contingency in the supply chain which is a key requirement from large commercial partners who do not want to be single-sourced, said Fred Narbel, managing director of OptiBiotix's prebiotics division.
"In addition, Fipros has a Certification and Accreditation Administration of the People's Republic of China registration thus enabling us to fast track future possible exports to China," he added.
Shares in OptiBiotix Health were trading 11% higher at 48.64 pence each on Thursday afternoon in London.
By Ife Taiwo; [email protected]
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