Life sciences business raises £1.5m with share placing

Life sciences business raises £1.5m with share placing
York-based OptiBiotix is commercialising products to tackle obesity, high cholesterol and diabetes

LIFE sciences business OptiBiotix has raised £1.5m with a share placing to accelerate the commercialisation of existing products and expand its new product pipeline.
The business, which is based at York Science Park, develops products to tackle obesity, high cholesterol and diabetes.
Its work has led to four commercial deals, six new patents, and five new microbial strain deposits, validation of its OptiScreen and OptiBiotix platforms and successful completion of human studies on its cholesterol reducing product.
The company said its progress “has created multiple product and partnering opportunities and led to significant partner interest”.
Stephen O’Hara, chief executive of OptiBiotix said: “Whilst the company has sufficient funds to commercialise existing platforms the high level of investor and partner interest has created an opportunity to raise additional funds to consolidate our leading position in the microbiome space.
“These new funds will allow the company to increase its in house development capability, accelerate the commercialisation of existing products, extend our technology platforms into new application areas, and expand our product pipeline.
“These new developments represent high growth opportunities in large global markets equal to or greater than existing plans consistent with our strategy of targeting large global markets with an unmet need.”

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