Life sciences business secures distribution deal with Korea
Life sciences business, OptiBiotix Health, which is developing compounds to tackle obesity, high cholesterol, diabetes and skincare, has entered an exclusive distribution deal in the Republic of Korea.
The deal is through the wholly owned subsidiary ProBiotix Health of the York-based firm and will see Inscobee a business established in 1970 and listed on Korea’s major stock market KOSPI since 1985, distribute CholBiome in the Republic of Korea.
The agreement builds on PrioBiotix’s momentum in Asia and supports its plans to develop a brand presence in the “strategically important Asian growth markets”, including India, China, Malaysia, Singapore, Indonesia, Phillipines, Taiwan and Korea.
Inscobee’s business activities consist of four fast growing business fields including Bio-Tech, which covers its pharmaceutical, neutraceuticals, and supplement products with distribution in domestic and overseas markets, with the firm currently focused on expanding the health supplement area of their business.
With experience of selling and promoting nutraceuticals through hospitals and a consumer distribution base through Korean off-line channels such as Holland & Barrett stores, hypermarkets, home-shopping, and e-commerce channels including on-line malls, open markets, influencer markets and live commerce markets, the agreement is a further milestone for PrioBiotix.
The agreement aims to help build LP LDL® and CholBiome’s reputation and brand awareness in Asia and open up the potential for cross boarder e-commerce trading in China.
Mikkel Hvid-Hansen, commercial director of ProBiotix Health said: “Incobee is the ideal partner in the fast moving, highly dynamic and competitive South Korean health food markets where consumers seek innovative and effective natural solutions which stand out in the market. We welcome Inscobee into a global team of CholBiome distributors serving medical doctors and cardiovascular specialists and directly to consumers via homeshopping, pharmacies and medical clinics. By entering deals on CholBiome and LP LDL in India, China, Malaysia, Singapore, Indonesia, Phillipines, Taiwan, Australia, and New Zealand, ProBiotix is growing sales and developing a brand presence in these strategically important Asian growth markets.”
Seung-Hyeon Nam, director of Inscobee Plc, added: “At Inscobee, we are very pleased to introduce CholBiome® products to the Korean healthcare market. We believe CholBiome® has great potential to fill the void of safe and beneficial cardiovascular health needs in the nation and expect that it will play a big role as a flaghship product of Inscobee’s healthcare business. We look forward to a long and successful partnership with ProBiotix Health.”
