RCS - OptiBiotix Health - Approval of GoFigure products

OptiBiotix HealthAnnouncement

24/10/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221024:nRSX7687Da&default-theme=true

RNS Number : 7687D  OptiBiotix Health PLC  24 October 2022

OptiBiotix Health plc

("OptiBiotix" or the "Company" or the "Group")

 

Approval of GoFigure products with Saudi Food and Drug Authority

 

OptiBiotix Health plc (AIM: OPTI), a life sciences business developing
compounds to tackle obesity, cardiovascular disease and diabetes, announces
its exclusive distributor Nahdi Medical Co ("Nahdi") has received approval
from the Saudi Food and Drug authority ("SFDA") for GoFigure shakes and bars
containing patented weight management aid SlimBiome®.

 

The Company announced it had signed an exclusive sales and marketing agreement
with Nahdi in December 2021. Nahdi owns the largest pharmacy network in the
Kingdom of Saudi Arabia ("KSA") with over 1,100 pharmacy outlets countrywide.
Nahdi's online platform, Nahdi Online, is one of the leading e-commerce
pharmacy players across the six countries of the Gulf Cooperation Council
("GCC") https://www.nahdionline.com/en/ (https://www.nahdionline.com/en/) .

 

The SFDA approval originally envisaged for early 2022, is a critical milestone
on the way to marketing and selling the GoFigure range of products through the
pharmacies of Nahdi in Saudi Arabia. The SFDA approval is of strategic
importance to both Nahdi and OptiBiotix as it facilitates the registration
processes in the other GCC countries (Bahrain
(https://en.wikipedia.org/wiki/Bahrain) , Kuwait
(https://en.wikipedia.org/wiki/Kuwait) , Oman
(https://en.wikipedia.org/wiki/Oman) , Qatar
(https://en.wikipedia.org/wiki/Qatar) and the United Arab Emirates
(https://en.wikipedia.org/wiki/United_Arab_Emirates) ).

 

As a direct consequence, OptiBiotix has received the first purchase order from
Nahdi. The manufacturing of the range of products has commenced and the launch
envisaged for Q1 2023 is in full preparation. The initial launch is planned to
take place in strategically key locations within Saudi Arabia and through
Nahdi's e-commerce platform.

 

GoFigure is OptiBiotix' direct-to-consumer (D2C) range of weight management
products formulated with core ingredient SlimBiome®. The GoFigure range of
products consists of powdered meal replacement & beverage products
(shakes, smoothies, pancake mixes, etc) and healthy snacking (crisps, puffs,
gummies, etc.).

 

SlimBiome® is a patented prebiotic weight management aid used as such or in
formulated products in the health & wellness, sports nutrition and weight
management categories. SlimBiome® is supported by independent human clinical
studies which show it reduces hunger, cravings for sweet and savoury foods and
fat intake, and helps people stick to a low calorie diet plan. Consumers who
used SlimBiome® in combination with a calorie restricted diet experience a
relief from feeling hungry and have fewer cravings for food, leading to easier
and more sustainable dieting and lose on average an additional 2kg of fat per
month, improving body composition.

 

René Kamminga, CEO of OptiBiotix Limited, a wholly owned subsidiary of
OptiBiotix Health plc, commented: "I am very pleased the regulatory approval
process is now complete and that we can now focus on getting the GoFigure
range direct to the Saudi consumer. The GoFigure range has been specifically
formulated to support consumers aiming to reduce their weight, help them stick
to their change in diet and improve their gut microbiome at the same time.
This particular range has been adapted specifically to fit the consumer
preferences in Saudi Arabia and we are confident that we can build lasting
success with our partner Nahdi."

 

For further information, please contact:

 

 OptiBiotix Health plc                            www.optibiotix.com (http://www.optibiotix.com/)
 Stephen O'Hara, Chief Executive  Contact via Walbrook below

 Walbrook PR Ltd                                  Mob: 07876 741 001
 Anna Dunphy

 

This communication is a "Reach" announcement. Reach is a non-regulatory news
service. By using this service an issuer is confirming that the information
contained in this announcement is of a non-regulatory nature. Information
required to be notified under the AIM Rules for Companies, Market Abuse
Regulation or other regulation would be disseminated as an RNS regulatory
announcement and not on RNS Reach.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAGZMZGKMNGZZM