Listed life sciences firm increases presence in European market with new distribution deal
Life sciences business OptiBiotix Health has entered into a three-year distribution agreement for Greece and Cyprus.
The York-based firm has partnered with a company to exclusively distribute and commercialise OptiBiotix’s own label CholBiome products containing its cholesterol and blood pressure reducing LP strain.
The agreement grants the company exclusive distribution in return for local product registration and three year’s sales targets to retain exclusivity. This agreement covers the CholBiome range and follows our recent launch online in the UK and the announcement on 26 September of a CholBiome distribution agreement for Bulgaria.
This is in line with OptiBiotix’s strategy to expand sales of its own label CholBiome products into the European market.
CholBiome products containing LP have the ability to reduce both cholesterol and blood pressure providing a clinically proven natural product to help reduce these cardiovascular risk factors.
The company requires its identity and the terms of the agreement to remain confidential to protect its commercial interests and launch plans.
Per Rehné, commercial director of OptiBiotix, said: “We are pleased to announce this agreement which extends the sales of our CholBiome products into Cyprus and Greece. We chose the Company for its market access in Cyprus and Greece and solid track record for growing product sales.
“This agreement is a strategic step to build the distribution sales channel for CholBiome products in the European market and eliminates intermediates in the supply chain with shorter route to market and higher value to OptiBiotix.
“The company has already placed an initial order to be used for pre-marketing activities and we expect further orders to support a consumer launch in Q1 2019.”
