OptiBiotix Health plc (LON:OPTI) has inked a joint development deal with a multinational firm to develop various weight management foods and products which contain OptiBiotix’s SlimBiome technology.
OptiBiotix wouldn’t reveal the name of its new partner, but did tell investors it is a “major supplier” to the food, beverage and pharmaceutical industries mainly within Asia, and has a “multi-billion dollar turnover”.
Should the partnership prove successful, any products or foods will be launched into the Asian markets in the second half of 2017.
“India (30mln) and China (46mln) rank second and third in having the highest number of overweight people in the world,” said chief executive Stephen O’Hara.
“We hope that OptiBiotix's strong science base together with our partner's local knowledge, reputation, and sales and distribution capability will bring the benefits of SlimBiome technology to a wider audience.”
SlimBiome is OptiBiotix’s patented combination of natural ingredients which has been shown to reduce calorie intake and cravings.
Shares closed up slightly at 62.7p on Monday.