Biotechnology firm, OptiBiotix Health (OPTI)
, announced on Wednesday that it had entered into an exclusive distribution agreement with an unnamed South African partner, referred to as “The Partner”, for the distribution of its weight management label, GoFigure®.
Dr. Fred Narbel, Managing Director of OptiBiotix's prebiotics division, said, "We are pleased to announce the signing of this exclusive distribution deal for the commercialisation of our GoFigure® products in South Africa and neighbouring countries.”
The agreement grants The Partner an exclusive right to import, market and distribute the GoFigure® range, a company-owned label made up of weight management products including the award-winning SlimBiome® weight management technology.
The Partner, who has, for now, asked to retain a status of anonymity, holds more than twenty years of experience in the pharmaceutical and health markets, having successfully commercialised a range of products across a broad network within the South African region.
Optibiotix further explained that the unnamed partner plans to reveal its identity after an official launch date for the GoFigure® brand has been confirmed.
Dr Narbel recognised the distribution deal as indicative of the firm’s recent efforts to penetrate different global markets, commenting:
“The agreement is another strategic step to take OptiBiotix's GoFigure® products to international markets which is important as it builds brand recognition, enhancing brand value and creates a further demand for SlimBiome®, the functional ingredient within GoFigure® products.”
To maintain exclusivity, the agreement has been signed alongside minimum order quantities, to be placed within three and twelve months of signing.
Dr Narbel further added, "This is an exciting second step in taking OptiBiotix's own label GoFigure® products to international markets and follows on the announcement of an earlier deal in Poland."
Earlier in May, the GoFigure® brand took its first steps into an international market after the company announced an exclusive distribution deal to commercialise the line of products within the Polish market.
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