Optibiotix reports pre-tax profit of £1.9m

The York-based firm reported profit for the 12 months to November 30, 2017. In that period it secured two agreements with Tata Chemicals - one for SlimBiome, it’s weight management product, for the Indian market, and the second to scale up and manufacture the companies cholesterol reducing prebiotic.

Stephen O’Hara, CEO of OptiBiotix, said: “OptiBiotix has made significant progress in the last 12 months which has seen a growing number of awards for our science and products and an increased deal flow.

“We anticipate both the rate and value of deal flow increasing as we develop new applications, take existing products into new territories, and leverage our technology platforms to develop new product opportunities.

“We are particularly excited by the interest from partners in developing our products into biopharmaceuticals and see this as an area of significant future development and potential value uplift.”

He added: “We have been pleased with the progress of SkinBiotherapeutics plc, which is making strong commercial progress and preparing for human studies, which if successful, should provide a substantive uplift in valuation.”