York life sciences business, OptiBiotix Health, has signed a production and commercialisation agreement with Italy’s Fine Foods & Pharmaceuticals.
The agreement grants Fine Foods a privileged license for the production and gives of 5 formulations containing OptiBiotix’s LPLDL strain in Europe in substitution for royalty payments in addition to a persistence for maximising the financial return both for parties.
The agreement carries a license for glucose control, one for reduction of bring about, one for lowering of blood cholesterol levels and two for the decrease in cardiovascular risk.
These proprietary formulations will probably be marketed in innovative presentations including sachets and ‘melt inside the mouth’ sticks, to their extensive European network within both the pharmaceutical and food supplement industry.
OptiBiotix CEO Stephen O’Hara said: “This agreement extends the range of products and presentations containing OptiBiotix’s LPLDL and fosters an opportunity to access global pharmaceutical markets by having an established industry supplier.
“We chose Fine Foods because of industry experience, reputation, rapid revenue growth, and impressive client variety of global customers inside the Pharmaceutical and Food Supplement sectors.”
With revenues of 120 million in 2017, Fine Foods is one of Europe’s largest and fastest growing providers of vitamin supplements and pharmaceutical products.