Optibiotix in talks with global food producers

Optibiotix Health, a weight management company which is working on products to tackle obesity, h'‹igh cholesterol and diabetes, '‹said it has made strong progress in its first half.
Obesity is becoming an increasing problem for the UK, but Optibiotix is working on various solutionsObesity is becoming an increasing problem for the UK, but Optibiotix is working on various solutions
Obesity is becoming an increasing problem for the UK, but Optibiotix is working on various solutions

The York-based firm is talking to global food producers about developing cereal bars and other products that speed up metabolism, reduce the calorie uptake from food and makes people feel full.​ ​In January it signed a deal with the company behind Slimfast, one of ​a number of​ deals it has signed with global multinational firms and smaller regional players.

​The group reported a substantial increase in its product portfolio, which now covers 44 patents, ​eight​ strain​ ​registrations, and ​seven​ trademarks​.​

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​CEO ​Stephen O’Hara​ said: “OptiBiotix has made significant progress in the last six months​ ​advancing our development programmes, building our IP portfolio, and signing commercial agreements with two​ ​multinationals.

​"​We are delighted to have GoFigure products containing SlimBiome on the shelves in a major retail​ ​chain with strong early sales and great customer feedback suggesting a high likelihood of success.​"​

The retailer is Whole Foods, an American firm which has eight stores in the UK. In just a few weeks Optibiotix said GoFigure has sold £15,000 worth of product, without any marketing in a pilot.

"There is the potential to move into the US. We are talking to a range of retailers," said Mr O'Hara.

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​In February the group raised £1m from the placing of 1,282,051 new ordinary shares at 78p​ ​to capitalise on ​a​ growing number of opportunities​.

It has also appointed Tim Spector, author of The Diet Myth, to ​its​ Scientific Advisory Group, opening up​ ​opportunities for new collaborations​. Mr Spector will also help the group to explain complex scientific data to a​ ​wider public​.​

​The group has bought the exclusive rights to intellectual property developed by The University of Manchester in skin​ ​health, creating a majority owned joint venture called SkinBiotix​.

I​t is also developing​ sweet​,​ calorie​-​free​,​ natural​,​ healthy sugars ​ under its ​SweetBiotix​ name​ ​and has carried out human taste studies to confirm safety and sweetness​.

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Another development is OptiBiotics, sugars which can modulate the growth rate and biological activity of​ ​specific strains in the ​m​icrobiome​ (bacteria in the stomach).

The group made a £700,000 loss in the six months to May 31, up from a loss of £500,000, although it is still yet to start commercialisation.

The ​firm​’s cash position remains strong at £3.55​m, which ​it said ​is sufficient to​ ​fund its ​current research and development programmes.

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