OptiBiotix Health signs £7m deal to market SlimBiome in India
Life sciences business OptiBiotix Health (LSE: OPTI) has signed a £7 million agreement to market its patented SlimBiome ingredient in India under the Dr Morepen brand.
Dr Morepen is a wholly-owned subsidiary of prominent Indian pharmaceutical company Morepen Laboratories, launched in 2001 to encourage customers to be in charge of their own health and well-being.
The group is listed on the Indian stock exchange and sells more than 800 products to over 82 countries.
It has direct access to more than 200,000 pharmacies nationwide and indirect access to another 300,000.
Morepen’s products are sold online, in store and direct to physicians across India.
Welcoming the deal
OptiBiotix chief executive officer Stephen O’Hara welcomed the new deal.
“Morepen has an extensive sales team with experience in highly-differentiated scientific products and countrywide access to a network of around 500,000 pharmacies across India,” he said.
“Based on current forecasts, [we] anticipate this agreement could contribute revenue in the region of up to £7 million per year for OptiBiotix in the next four to five years.”
Microbiome formulation
SlimBiome has been formulated by leading UK universities in collaboration with key opinion leaders in the microbiome, functional food ingredients and weight management space.
It utilises microbiome science to promote the feeling of fullness during weight loss, while burning calories and maintaining blood sugar levels to prevent overeating.
It is reported to be suitable for inclusion in foods such as snack bars, meal replacement shakes, confectionary, dairy and bakery products as well as supplements.
Human intervention studies have shown SlimBiome to be an effective means of supporting hunger-free weight management when combined with healthy eating.
The product has been proven to reduce calorie intake by up to 20% and lower food cravings.
‘Strategic inflection point’
Last month, OptiBiotix told shareholders it was at a “strategic inflection point” as its first generation products started to gain widespread acceptance in global markets and a pipeline of new products offering future sales growth potential.
Since last year, the company has focused on broadening its partner base to reduce dependency for revenue on a small number of partners while accessing larger markets with higher sales volumes.