OptiBiotix Health plc (LON:OPTI) has signed a manufacturing and supply agreement with a US-based probiotic maker for its LPLDL probiotic strain.
The biotech firm said under the agreement, US Pharma Lab Inc (USPL) would be granted non-exclusive rights to manufacture and supply formulations containing the LPLDL strain.
READ: OptiBiotix Health unveils second distribution deal of the week for weight management product
USPL is a family owned business with facilities in the US, India, and China which focuses on the handling of challenging ingredients such as probiotics.
Opti said the agreement was “an important step” in its business to business (B2B) strategy of utilising its science with partner company expertise and market reach to create multiple products for consumers.
USPL’s pharmaceutical good manufacturing practice (GMP) certification for its probiotic manufacturing facility in New Jersey also offered the possibility of utilising LPLDL in pharmaceutical applications, Opti said.
The agreement gives the firm strategic access to the US probiotic market, the world’s largest with an estimated retail value of US$7.1bn.
Per Rehne, chief commercial director of OptiBiotix, said that the agreement extended the firm’s product offering for LPLDL and had created access to the US market with “an established industry supplier”.
He added that the company would showcase the first formulation from the agreement at the Supply Side West ingredients conference in November.
The agreement follows the second distribution agreement signed for OptiBiotix’s SlimBiome weight management product with South African firm Formulation Creations last week.
In a note to clients, analysts at City broker finnCap said the deal demonstrated the company's ability to "attract high calibre, global partners, eager to utilise the potential inherent within LPLDL".
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