REG - Probiotix Health PLC - Admission to trading and first day of dealings

CSLAnnouncement

31/03/2022 08:15

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RNS Number : 6567G  Probiotix Health PLC  31 March 2022

 

ProBiotix Health plc

("ProBiotix Health" or the "Company")

 

Admission to trading on AQSE and first day of dealings

ProBiotix Health plc (AQSE: PBX), a life sciences business developing
probiotics to tackle cardiovascular disease and other lifestyle conditions,
announces that 121,666,666 ordinary shares of 0.05p each in the Company
("Ordinary Shares") are today being admitted to trading on the Access Segment
of the AQSE Growth Market ("Admission").

 

In connection with Admission, ProBiotix Health has raised £2.5 million
through a placing and subscription of 11,904,762 Ordinary Shares at a price of
21p per share.

 

The Directors of ProBiotix Health believe that an investment in the Company
represents an opportunity to invest in an innovative technology that is
underpinned by a significant portfolio of Intellectual Property Rights,
supported by an experienced board, and applicable to a range of markets.

 

Key information:

 

·     ProBiotix Health is the holding company of ProBiotix Limited
("ProBiotix").

·   ProBiotix was established by AIM-listed OptiBiotix Health plc
("OptiBiotix"), a global leader in microbiome modulating compounds for use in
functional foods and supplements, to develop probiotics to tackle
cardiovascular disease and other lifestyle conditions.

·   The Company's strategy is to develop next-generation microbiome
solutions for a wide range of health conditions and to deliver commercially
successful products supported by a strong scientific evidence base.

·    Since its creation, ProBiotix has made considerable progress and has
successfully transitioned from a research and development specialist into a
profitable commercial organisation whose products are being commercialised in
over 60 countries.

·   Human volunteer studies have shown that ProBiotix's principal product,
Lactobacillus plantarum ECGC13110402 ("LP-LDL®"), can reduce key
cardiovascular risk markers, such as total cholesterol, LDL (bad) cholesterol,
and Apolipo protein B, by up to 34.2 per cent, 28.4 per cent and 28.6 per cent
respectively.

·     ProBiotix commercialises LP-LDL® as an ingredient and in a range of
white and own label products under its CholBiome® range.

·     The CholBiome® portfolio currently comprises four products, which
can either be sold under the CholBiome® brand or private label:

 

§ CholBiome®

Contains LP-LDL® as the only active ingredient, to focus on healthy
cholesterol maintenance and deliver tangible health benefits.

§ CholBiome®(X3)

A cholesterol-reducing formula that combines three targeted ingredients into a
triple-layer tablet. It consists of LP-LDL®, Monacolin K from red yeast
rice, and Vitamin B3 (niacin) to deliver a tri-factor approach that utilises
synergistic mechanisms of action to reduce cholesterol and aid overall
cardiovascular health.

§ CholBiome®(BP)

A blood pressure reducing formula that combines four science-backed natural
ingredients, LP-LDL® Thiamine (Vitamin B1), L-arginine and CoEnzyme Q10, to
provide a multi-targeted mechanism approach for aiding hypertension and
improving cardiovascular health.

§ CholBiome®(VH)

A vascular health formula that combines three specialised ingredients in a
triple layer tablet. Consisting of LP-LDL® Thiamine and Vitamin K2 Vital
(from Kappa Bioscience) to provide a multi-targeted mechanism to work against
the build-up of lipid and calcium deposits in the blood vessels.

·    In February 2019, LP-LDL® was designated Generally Recognized As
Safe ("GRAS") by an independent Expert GRAS Panel in the United States, which
extends its applications from use as a supplement to use as a functional
ingredient in a wide range of food, dairy, and beverage products in the USA.

·    ProBiotix currently has 27 registered patents to its name and will
continue to expand its IP portfolio as it expands its application areas and
territories.

·      On 28 February 2022, OptiBiotix announced that preliminary
unaudited results for ProBiotix for the year ended 31 December 2021, indicated
total sales of £1.1 million.

·    Following a distribution in specie of Ordinary Shares to its
shareholders, OptiBiotix remains interested in 53,533,333 Ordinary Shares,
representing approximately 44% of the Company's issued share capital.

 

Peterhouse Capital Limited is acting as the Aquis Stock Exchange Corporate
Adviser and Broker.

 

Stephen O'Hara, CEO of Probiotix Health plc commented: "We are very pleased
with the level of interest generated from new investors in support of our
admission to trading on AQSE. This IPO represents a landmark moment for
Probiotix as an independent company in its own right and will enable our
business to continue to grow as we expand our territories and product range
into dairy and pharma.

 

"The global probiotics market was estimated to be valued at USD 61.1 billion
in 2021 and is projected to reach USD 91.1 billion by 2026. The growth is
expected to be driven by the increasing consumer inclination towards
preventive healthcare in conjunction with the development of safe and
effective probiotic strains and we are well placed to take advantage of this."

 

Directors and Key Management

 

The Directors of the Company are as follows:

 

Adam Reynolds - Non-executive Chairman (aged 59)

Adam began his career in the City in 1980 and in 2000 established his own
PR/IR/Corporate finance firm which listed on AIM in November 2000 and was then
later sold in 2004 via a reverse takeover.

 

He was approached in 2005 to become non-executive Chairman of International
Brand Licensing Plc ("IBL"). The company at this time had substantial debt and
the remit was to turn it around. Following the sale of a number of global
sports IP assets, IBL became a cash shell. In 2009 Adam introduced David Evans
and Julian Baines, two leading diagnostic specialists in the UK, to the
company and the Plc changed direction. That business is today called EKF
Diagnostic Holdings Plc, and Adam remains a non-executive director and
shareholder.

 

In November 2012, Adam launched a successful agreed bid for the trading assets
and business of Autoclenz Plc alongside its management team. Adam remains a
director and shareholder.

 

In addition, Adam is currently non-executive Chairman of AIM-quoted Belluscura
plc, Yourgene Health Plc and MyHealthChecked Plc, and a non-executive director
of Sosandar Plc.

 

Stephen O'Hara - Chief Executive Officer (aged 61)

Stephen trained as a microbiologist and has over 50 publications, 70 plus
patents, and chapters in a number of books. Whilst a scientist by training,
Stephen is at heart an entrepreneur with a track record of success in
identifying opportunities, raising finance, commercialising products and
taking companies to exit by IPO or trade sale. Stephen has built several
businesses and was a founder of Acolyte Biomedica which he exited to 3M
Healthcare in 2007 (at a 32x multiple) whereupon he became Director of
Healthcare at 3M.

 

Stephen has been a director of an investment company and is frequently asked
to advise on potential investments by institutional investors.

 

Stephen founded OptiBiotix in May 2012, SkinBiotherapeutics plc in 2015
(initially as a joint venture with the University of Manchester) and ProBiotix
in 2018, to commercialise opportunities in the immature but evolving
microbiome field. Stephen listed OptiBiotix on AIM in August 2014 and
SkinBiotherapeutics plc in April 2017.

 

Mikkel Hvid-Hansen - Commercial Director (aged 53)

Prior to joining ProBiotix, Mikkel was International Sales Manager for Cell
Biotech Int., a Korean probiotic company selling bulk ingredients and finished
products internationally.

 

Mikkel previously spent six years as International Sales Manager at Bifodan,
where he had responsibility for the sales of several probiotic OTC drugs.
Previously, Mikkel also worked for Lallemand, the world's third largest
probiotic company (1998-2006) and Eraco (1995-1998). Mikkel has extensive
experience of commercialising probiotics products and technologies, a wide
network of industry contacts, and a strong track record of rapidly growing
sales.

 

Marco Caspani - Independent Non-executive Director (aged 47)

Marco has been working in the health ingredients industry for more than 18
years. With a degree in food science, Marco has an international network of
connections with Industry leaders. Marco joined CSL in 2012, who are
recognised as global leaders in the development and production of strains for
the food and pharmaceutical Industries.

 

Key Management

The Company's finance function will be the responsibility of Mark
Collingbourne, who is currently the Chief Finance Officer at OptiBiotix.

 

Mark Collingbourne - Chief Finance Officer

Mark is a qualified accountant with significant experience in financial
management, particularly in the area of publicly quoted companies. He is
currently Chief Finance Officer at OptiBiotix and Intuitive Investments Group
plc. He has dealt with all aspects of PLC development from bringing small
companies to flotation to supervising the on-going accountancy and ensuring
the good governance of international businesses. During his ten-year tenure
with ViaLogy plc (now Yourgene Health plc), Mark was a key member of the team
that arranged its transformation from a private US organisation to an AIM
company, via a merger with Original Investments PLC. He also played a major
part in arranging the financial details of ViaLogy's restructuring.
Previously, after periods with ITV Network Centre and Mechanical Copyright
Protection Society Limited, Mark was appointed Finance Director of Curtis
Brown Group Limited, one of the UK's leading literary agencies, in 1996, where
he managed the financial implications of the management buyout in 2001.

 

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules, ProBiotix Health has 121,666,666 Ordinary Shares in issue.
This figure of 121,666,666 Ordinary Shares may be used by shareholders in the
Company as the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.

 

For further information, please contact:

 

 Probiotix Health plc                          Contact via Walbrook below
 Stephen O'Hara, Chief Executive

 Peterhouse Capital Limited                    Tel: 020 7469 0930
 Mark Anwyl (AQSE Corporate Adviser)
 Duncan Vasey (Broker)

 Walbrook PR Ltd     Mob: 07876 741 001 or probiotix@walbrookpr.com
 Anna Dunphy

 

About ProBiotix Health plc

ProBiotix Health develops probiotics (live microbes that, when ingested, can
alter the composition of the microbiome and improve human health) to tackle
cardiovascular disease and other lifestyle conditions which are affecting
growing numbers of people across the world.

 

ProBiotix Health's cholesterol reducing probiotic, Lactobacillus plantarum
ECGC13110402 ("LP-LDL®), is manufactured in pharmaceutical GMP-certified
facilities and protected worldwide by in the region of 5 patent families,
comprising 27 patents and pending patent applications, and 22 trademarks.

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.

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