City Briefs: Optibiotix, Proactis, and more
Life sciences business, Optibiotix has announced that its wholly owned subsiuary, ProBiotix Health has entered into an exclusive distribution agreement with United Italian Trading Corporation (UITC) to distribute its cholesterol reducing product in Singapore.
UITC, an established pharmaceutical and medical device marketing and distribution company founded in Singapore in 1963, has agreed to place an order of 5,000 boxes of CholBiomeX3 for delivery by the end of 2020 and increasing annual minimum order quantities to retain exclusivity.
Mikkel Hvid-Hansen, commercial director of ProBiotix Health commented: “We are pleased to have signed an agreement with UITC to distribute CholBiomeX3 in Singapore. This follows on from a recent agreement we signed with UITC for SlimBiome Medical.
“LPLDL® containing products, like CholBiomeX3, which have peer-reviewed scientific publications and clinical studies are increasingly attracting the interest of pharmaceutical companies who commercialise products in the high value hospital GP, and pharmaceutical markets where science and clinical studies are valued. As the gap between drugs and probiotics developed using more rigourous scientific and clinical approaches narrows, we can see these so called next-generation probiotics, increasingly being seen as mainstream treatment options.”
Dexter Fung, deputy managing director at UITC, commented: “At UITC, we are proud to partner with ProBiotix Health to introduce CholBiomeX3 in Singapore. As cardiovascular disease remains the number one cause of fatality in Singapore, we feel that the unique mechanism of action of CholBiomeX3 will meet the need of improving overall cardiovascular health safely and effectively. This will be our main mission and objective of this collaboration. We look forward to a long and successful partnership with ProBiotix Health.”
::::
Wetherby-based software firm Proactis has announced that Sophie Tomkins, independent non-executive director has resigned from the board with immediate effect.
The Board is already undertaking a formal search process as part of an earlier commitment to strengthen the independence of its non-executive directors, with this search also including the appointment of Tomkins replacement.
Alan Aubrey, Non-Executive Chairman, commented: ” I would like to thank Sophie for her contribution to the Group and wish her well for the future. As a Board we are committed to strong corporate governance, and we re-iterate that in accordance with the UK Governance Code, we intend to transition to a Board where at least half of its members, excluding the Chair, are independent non-executive directors. These discussions are ongoing, and the Board will announce further updates in due course.”
Rodney Potts will replace Sophie Tomkins as the Chair of the Remuneration Committee in the interim period, until the non-executive search is concluded.
::::
In line with Fulcrum’s previously announced Board succession plan, the firm has announced that Stephen Gutteridge, non-executive director has given notice that he will step down from the Board at the end of this calendar year. A process to recruit a new independent non-executive director is underway and a further announcement will be made in due course.
