OptiBiotix Health (OPTI) , a life sciences company specialising in microbiome-based health products, updated markets on commercial activities of its first-generation products range in 2023 to date.
In July 2023, OptiBiotix achieved its all-time highest online sales record for its own brand. This growth was propelled by enhancements to its website, checkout process, and logistical improvements, resulting in a 450% increase in the online conversion rate. The company also diversified its online presence through platforms like Amazon.
To add to OptiBiotix's momentum, a partner secured an international listing with Costco - a globally recognised retail giant ranking fifth in the world- for its SlimBiome® products. On top of this, an initial order of £116K for SlimBiome® has been received from a contract manufacturer associated with a leading US health brand.
Expanding in the Asian market, agreements have been formalised with four new partners for SlimBiome® since April, spanning across Vietnam, Thailand, Indonesiam Malaysia and Singapore.
Finally, OptiBiotix introduced WellBiome® in May, a health-focused functional fiber and mineral blend. WellBiome® has seen strong monthly sales growth (up 125% from July to August) and substantial repeat orders (+63% in August), aligning well with the company's expansion strategy.
Stephen O'Hara, CEO of OptiBiotix Health plc said: "We are making good progress on our aims of getting existing partners returning to forecast, bringing in new partners, particularly in the USA and Asia, and expanding e-commerce channels to grow online sales and reduce partner dependency. This is all part of plans for each business unit (USA, India, Ecommerce, B2B) to reach operational profitability, at least on a monthly basis by the end of the calendar year.
"The aim for the second half of the year is to continue our focus on managing costs, growing sales and closing out ongoing discussion with a number of larger partners across first and second generation products to ensure a return on investment from our expansion in our commercial and business development team."
View from Vox
OptiBiotix has demonstrated, through rapid sales growth and expansion of its global footprint, that the science and potential of its SweetBiotix product range are likely to position it as a key player in the sugar substitutes market. Investors have reacted positively to the news, pushing OptiBiotix shares up 6.3% at time of writing.
The sugar substitutes market is projected to reach US$24.3bn by 2028, driven by demand for healthier, low-calorie options. However, widely used sugar substitutes have potentially negative health effects, including increased blood sugar levels, DNA damage, and possible carcinogenic effects. OptiBiotix addresses a clear market need for better alternatives with its SweetBiotix product portfolio, which includes patented, zero, or low-calorie sweet dietary fibers. SweetBiotix fibers have a prebiotic effect, promoting the production of short-chain fatty acids in the gut, offering additional health benefits.
Moving into the second half, one focus for OptiBiotix is growing sales, with the company having plans in place to increase marketing of WellBiome® and extend its availability to other Amazon international channels, which should see OptiBiotix’s momentum continue for the remainder of 2023 as it nears operational profitability.
Follow OptiBiotix for more News and Updates: