OptiBiotix closes LPLDL® distribution deal in US and Canada
Under the deal, the distributor will supply the cholesterol and blood-pressure reducing strain, Lactobacillus plantarum LPLDL®, a product of subsidiary company, Probiotix, under an exclusive licence.
The licence will see the strain’s inclusion into dietary supplements formulation available to customers in the United States and Canada.
"We are pleased to announce this distributor agreement with Advanced NutriSolutions Inc./Select Ingredient, which will expand LPLDL®'s reach and service level in the United States and Canada,” said Steve Prescott, CEO of OptiBiotix.
Shares in OptiBiotix Health were trading 1.55% higher at 65.5p during Monday trading.
Serving the US and Canada from its California-based facilities, Advanced NutriSolutions Inc./Select Ingredient supplies ingredients, contract manufacturing services and finished products to the nutritional supplement industry.
Prescott views Advanced NutriSolutions Inc./Select Ingredient as operating within “an important region”, adding that their capabilities allows them to sell LPLDL® as an ingredient whilst creating custom formulation and products for customers.
Last week the company signed a licensing agreement with a Uruguayan dairy producer representing its efforts to expand the LPLDL® presence into South America and extend its use into dairy products.
As laid out in a January trading update, LPLDL® is expected to contribute to solid revenue growth in 2020 as the company focuses on extending its range of products into new areas.
Follow News & Updates from OptiBiotix Health here:
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.