The York-based company, which develops compounds to tackle obesity, says the next phase of its strategy is to scale the commercially established first generation product sales by extending product lines and territories with existing partners.
Stephen O'Hara, CEO of OptiBiotix Health, said: "The company is in a pivotal position in reporting profitability within its divisions from early sales of our first generation products whilst building the scientific and clinical evidence base to de-risk our highly innovative second generation products.
"These offer the potential to open significantly larger market opportunities whilst having a low overhead sustainable business model from which to rapidly scale.
"Strong progress in quarter one of 2021 with manufacturing scale up of SweetBiotix, development of LP LDL as a drug biotherapeutic, product line and territory extensions of existing products with corporate and retail partners, coupled with progress in the Indian and Asian markets, puts the Company in a strong position for future growth in this exciting area of healthcare."
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