19th Dec 2019 12:25
(Alliance News) - OptiBiotix Health PLC said Thursday it has entered into an exclusive agreement with Draco Ingredients GmbH to distribute its SlimBiome weight management technology in Germany.
The supplement maker said this agreement is another step in extending the geographical reach and sales of SlimBiome.
The company said this agreement is consistent with its strategy of increasing the number of geographies and applications SlimBiome is used in as an ingredient.
"This builds revenue potential and brand recognition and reduces commercial risk," OptiBiotix said.
Draco Ingredients is a German food ingredient company focusing on the distribution of mainly dairy based ingredients to a broad spectrum of customers, active in segments such as dairy, sports and medical nutrition, the company said.
Fred Narbel, managing director of OptiBiotix's prebiotics division, said: "This deal builds on the work done in 2019 to qualify multiple manufacturers of SlimBiome in Europe and around the world to de-risk our supply-chain in the case of a hard Brexit and give us access to one of Europe's largest economies."
At the beginning of December OptiBiotix announced the commercial launch of two products formulated with SlimBiome to the Indian market.
The company had also signed three new exclusive distribution agreements for its GoFigure and SlimBiome weight loss products covering Poland, Malaysia, and Singapore at the beginning of December.
OptiBiotix shares were up 5.3% in London at 49.50 pence each on Thursday.
By Loreta Juodagalvyte; [email protected]
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