6th Apr 2020 16:40
(Alliance News) - OptiBiotix Health PLC on Monday said it has entered into a manufacturing agreement with French food supplement manufacturer Laboratoire PYC Inc, with regards to its SlimBiome product.
SlimBiome is OptiBiotix's weight management product.
The life sciences firm said the agreement gives Laboratoire the exclusive rights to manufacture a new meal replacement product designed to support the international expansion of OptiBiotix's GoFigure weight management brand.
OptiBiotix said the deal builds on its efforts to create a source of supply of GoFigure products located within the European Union to support the growth of the brand in Poland, Malaysia, Singapore and Eastern Europe.
"We are very pleased to work with Laboratoire PYC to manufacture a new range of meal replacement shakes formulated with SlimBiome, and sold under the GoFigure brand. The agreement helps us lower the cost of trade in case of a hard Brexit, supports our existing and future European distributors, and builds contingency into the supply chain: a key requirement from large retail partners who do not want to be single-sourced," said Fred Narbel, managing director of OptiBiotix's prebiotics division.
Earlier in April, the company signed a manufacturing agreement with Denmark-based Fipros AS to ensure supply-chain continuity in case of a "hard Brexit", adding that the agreement de-risked its supply chain by creating a source of supply in the European Union.
OptiBiotix shares closed 6.7% higher at 48.00 pence each on Monday afternoon in London.
By Ife Taiwo; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
OptiBiotix Health