9th Jun 2015 08:13
LONDON (Alliance News) - Venture Life Group PLC and OptiBiotix Health PLC Tuesday announced they have agreed to enter into a strategic development and commercial alliance to develop compounds for the treatment of obesity, high cholesterol and diabetes.
The two companies will work to develop products from existing OptiBiotix intellectual property in the form of registered food supplements or other over-the-counter products. OptiBiotix will develop new ingredients, which will then be developed by Venture Life into products, and marketed and commercialised by Venture through its network of international distribution partners.
Financial terms of the collaboration have not been disclosed. The company expects the first products from this collaboration to be marketed to distribution partners in 2016, subject to timely product registration.
"OptiBiotix operates in a very exciting and progressive area that has the potential to bring real health benefits. It has exciting product research programmes which we believe can be commercialised successfully through Venture Life's manufacturing, registration and international distribution capability," said Chief Executive Officer of Venture Life Jerry Randall in a statement.
"We are pleased to announce this Alliance with Venture Life and see a strong rationale for the businesses to work together based on the complementary nature of the infrastructure and the commonality of our target markets," said OptiBiotix Chief Executive Officer Stephen O'Hara in a statement.
Shares in OptiBiotix are trading down 1.3% at 38.00 pence Tuesday morning, shares in Venture Life are trading up 0.6% at 88.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
OptiBiotix HealthVenture Life