Optibiotix in talks with global food producers
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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Hide AdCEO 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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Hide AdIn 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.
It 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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Hide AdAnother development is OptiBiotics, sugars which can modulate the growth rate and biological activity of specific strains in the microbiome (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 £3.55m, which it said is sufficient to fund its current research and development programmes.