10th Oct 2024 17:02
(Alliance News) - ProBiotix Health PLC on Thursday celebrated a new partnership with Raff, a Mexico-based raw materials and ingredients specialist.
ProBiotix is a Wakefield, England-based life sciences business developing probiotics to tackle cardiovascular disease and other lifestyle conditions.
According to the five-year deal, Raff will work with ProBiotix to distribute LPLDL, which is the latter's patented probiotic strain for cardiometabolic health.
The launch is planned for the first half of next year, with commercial sales expected in late 2025 and early 2026.
"After lengthy discussions we are delighted to announce our partnership with Raff and firmly believe that they share our ethos - to develop innovative products to help enrich individuals with healthier lives," said Chief Executive Officer Steen Andersen.
"The cardiovascular drug market in Mexico is estimated to be worth USD2.2 billion this year, and provides a huge latent opportunity. With an ageing population, we believe Mexico provides a highly attractive market for ProBiotix to target."
Shares in ProBiotix Health closed 1.6% lower at 13.78 pence each in London on Thursday.
By Holly Beveridge, Alliance News senior reporter
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