Weight loss company invests in its expansion

LIFE sciences business OptiBiotix Health, which develops compounds to tackle obesity, high cholesterol, diabetes and skin care, has increased its investment in its majority owned subsidiary The Health Weight Loss Company in a bid to secure further listings in major retail outlets.

York-based OptiBiotix has made an investment of £75,000 to provide working capital to support marketing and an increase in stock levels, a move which increases OptiBiotix’s shareholding in THWLC to 64%.

OptiBiotix announced in July that it had acquired a majority shareholding in THWLC to incubate new technological solutions and develop wider product applications in weight management.

THWLC produces GoFigure products containing SlimBiome which incorporates OptiBiotix’s patented combination of natural ingredients developed by experts to support weight loss.

OptiBiotix says that THWLC has gained over 1,000 customers, retail listings in over 80 stores, and four distributorships in the UK and Iceland and that sales have outperformed expectations.

The company said the increased investment will provide THWLC with the resources to invest in product marketing at key seasonal periods, provide the marketing support required for listing in major retail outlets.

Stephen O’Hara, CEO of OptiBiotix, said: “We are really pleased with the progress of THWLC and the rapid sales growth of its GoFigure products which have shown the unique ability of our SlimBiome technology to help customers lose weight without feeling hungry, leading to easier and more successful dieting.

“Our belief in the potential of THWLC is demonstrated by this additional investment which provides funds to invest in marketing, to build stock levels to meet the seasonal demand for weight management products, and to support an increase in retail listings, particularly with major retail outlets. I am sure investors will recognise that given the early success of GoFigure products, which has been achieved without any marketing, there is potential for strong sales growth of GoFigure products over the next few years and substantial value enhancement.”