REG - OptiBiotix Health - Exclusive sales and distribution agreement

OptiBiotix HealthAnnouncement

15/12/2021 07:00

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RNS Number : 6489V  OptiBiotix Health PLC  15 December 2021

    OptiBiotix Health plc

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

 

Exclusive sales and distribution agreement with Nahdi Medical Co

One of the leading Saudi Arabian pharmacy chains

 

OptiBiotix Health plc (AIM: OPTI), a life sciences business developing unique
science and human study-based compounds that modulate the microbiome to
address metabolic syndrome and diabetes, systemic low-grade inflammation,
obesity, cardiovascular disease, high cholesterol and to support healthy aging
has signed an exclusive supply agreement with pharmacy chain Nahdi Medical Co.
("Nahdi") for the sales of its GoFigure and SlimBiome® Medical weight
management product range in the Kingdom of Saudi Arabia ("KSA").

 

Nahdi owns the largest pharmacy network in the KSA with over 1100 pharmacy
outlets countrywide. Nahdi's online platform, Nahdi Online, is one of the
leading e-commerce pharmacy player across the six countries of the Gulf
Cooperation Council (GCC) https://www.nahdionline.com/en/
(https://www.nahdionline.com/en/) .

 

The in-store launch is planned for H1 2022 and will progressively expand into
Nadhi's pharmacy network and its online platform. The launch will initially
include seven products encompassing OptiBiotix's direct-to-consumer (D2C) own
brands Gofigure® and SlimBiome® Medical range of weight management products
including multi award winning weight management ingredient SlimBiome®. The
initial product range launched will combine meal replacement shakes, bars and
sachet options and once successful, will be expanded with additional product
offerings.

 

As part of this launch the OptiBiotix products will be registered with the
Saudi Food and Drug Authority (SFDA) which 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) ).

 

Obesity is an area of urgent concern in the KSA as it is seen as one of the
key health challenges for Saudis resulting in wider implications to the
economy. A recent survey conducted by the World Obesity Federation revealed
that almost 50% of the people in the KSA are overweight or living with obesity
https://www.worldobesity.org/news/wof-mena-press-release
(https://www.worldobesity.org/news/wof-mena-press-release) .

 

This agreement is another example of OptiBiotix' strategy to expand the
geographical footprint of its pro- and prebiotic products providing science
backed solutions with leading brands in the health & wellness market.

 

René Kamminga, CEO of OptiBiotix Limited, commented: "We are very pleased
to announce this sales and distribution agreement with Nahdi Medical, a
leading pharmacy chain in the KSA. Our SlimBiome® Medical and GoFigure®
range of weight management products have 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. We are very
pleased that Nahdi selected our science backed differentiated range of
products as the primary choice to offer its consumers to help address the
rising rates of obesity seen across the KSA. This is the third agreement with
a large partner in as many weeks, each with similar revenue potential which we
believe will make a significant contribution to OptiBiotix's growing revenue
in the years ahead."

 

This announcement contains information which, prior to its disclosure, was
considered 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.

 

For further information, please contact:

 

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

 Cairn Financial Advisers LLP (NOMAD)                      Tel: 020 7213 0880
 Liam Murray / Jo Turner / Ludovico Lazzaretti

 Cenkos Securities plc (Broker)                            Tel: 020 7397 8900
 Callum Davidson / Neil McDonald
 Michael Johnson / Russell Kerr (Sales)

 Walbrook PR Ltd                                           Mob: 07876 741 001
 Anna Dunphy

 

 

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'', ''could'', "should" ''envisage'',
''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect",
''will'' or the negative of those, variations or comparable expressions,
including references to assumptions. These forward looking statements are not
based on historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the amount,
nature and sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on information
currently available to the Directors.

 

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