OptiBiotix Health (OPTI) announced today it entered into an exclusive manufacturing, supply and profit-sharing agreement for SlimBiome® in return for 50% of the profit.
The agreement with Zeon Lifesciences Ltd, will optimise OptiBiotix’s supply chain in the region, and help to bring the benefits of SlimBiome® technology to India’s 29.8m obese men and women.
The company said that utilising Zeon’s purchasing power, manufacturing efficiencies and partner network will serve to scale up the manufacture and supply of Slimbiome® in Southern Asia.
Under the agreement, Zeon will cover the cost of registration of SlimBiome® and any finished product containing it with the Food Safety and Standard Authority of India (FSSAI).
Shares were trading 4.4% higher at 95p each following the news
Stephen O'Hara, CEO of OptiBiotix, said: "We chose Zeon due to their position as India's leading manufacturer of nutraceutical products, industry reputation, extensive national and international partner network, and their expertise in manufacturing high value nutraceutical products.”
Zeon is India’s leading manufacturer of nutraceutical and herbal products with a strong focus on scientifically researched, clinically backed products. It has major clients including Dannone, GNC, Decathlon, Sun Pharma and Herbalife.
Mr. O’Hara added: “We believe partnering with Zeon is an important step in optimising the supply chain to facilitate the needs of existing and new corporate partners in India and Southern Asia and anticipate further announcements in due course.”
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