7th Jan 2019 09:09
LONDON (Alliance News) - OptiBiotix Health PLC on Monday said it has entered into an exclusive manufacturing and supply agreement with Indian herbal products manufacturer Zeon Lifesciences Ltd.
The life sciences company said the agreement grants Zeon an exclusive license to manufacture and supply OptiBiotix's SlimBiome weight management technology in India, in return for 50% of the profit.
Under the terms of the contract, Zeon will cover the cost for the registration of SlimBiome and any finished product containing Slimbiome with the Food Safety & Standard Authority of India.
OptiBiotix said this agreement is an important step in meeting the needs of major Indian and global corporates for SlimBiome, and SlimBiome containing products, in the large consumer markets of India and southern Asia.
"We believe partnering with Zeon is an important step in optimising the supply chain to facilitate the needs of existing and new corporate partners in India and Southern Asia," said OptiBiotix Chief Executive Stephen O'Hara.
"We hope the combination of our strong science and Zeon's local knowledge and manufacturing expertise with our combined partner network will quickly help bring the benefits of SlimBiome technology to India's 29.8 million obese men and women," added O'Hara.
OptiBiotix shares were trading 1.3% higher on Monday at 92.20 pence each.
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