London-listed Optibiotix Health (AIM:OPTI) told investors that its partner, ALFASIGMA, has launched a food supplement containing the cholesterol reducing LPLDL® probiotic strain developed by the group’s subsidiary, ProBiotix Health.
The Italian pharmaceutical company will market this ‘first of its kind’ nutraceutical probiotic in Italy to address cholesterol reduction, the statement said.
ALFASIGMA, which saw 2018 revenues in excess of €1 billion, holds 3000 employees globally and is present in more than 90 countries through distributors and subsidiaries.
“We are pleased to communicate the launch of a new product developed by one of the largest pharmaceutical companies in Italy and containing our cholesterol reducing probiotic, LPLDL®,” said Stephen Prescott, Chief Executive of ProBiotix Health.
ProBiotix said the launch was being supported by an ‘extensive’ marketing campaign aimed at GPs, cardiologists, and pharmacists, to promote treatment for at risk patients using a scientifically formulated food supplement.
Optibiotix entered into an agreement with ALFASIGMA in June 2018 to exclusively commercialise food supplements containing OptiBiotix's LPLDL® strain in Italy.
In 2017, Italy’s probiotic supplements market was reportedly worth an estimated $500 million with growth forecasted at 25% per annum to 2021.
This makes Italy the largest and fastest growing probiotic market in Europe, and the second largest market in the world, the company emphasised.
Prescott acknowledged the product launch as another step in establishing LPLDL® as a global probiotic brand whilst also building ProBiotix into a profitable business in 2020.
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