OptiBiotix reports strong first half trading and looks forward with confidence

The York-based firm, which develops compounds to tackle obesity, high cholesterol and diabetes, reported a 60 per cent increase in gross profit in the six months to June 30.

Sales of probiotic LPLDL and SlimBiome (an ingredient to support weight loss and weight management) rose 45 per cent to £1.076m.

Stephen O’Hara, CEO of OptiBiotix, said: “This has been another period of progress for OptiBiotix with strong sales growth and improving margins allowing the group to build a recurring revenue base providing a foundation on which to build a profitable and valuable business.

"We believe new product launches in July 2021, the extension of territories with existing partners, the prospect of agreements with large partners in key strategic markets, and the growing realisation of our development pipeline, allow us to look forward with confidence to further commercial progress of the group in the current year and beyond.

"The company is now in the strongest position it has ever been in with a strong team, large and valuable intellectual property portfolio in the rapidly growing microbiome space, multiple clinical studies showing product safety and efficacy, recurring orders, and a valuable asset in OptiBiotix’s holding in SBTX.

"With industry and consumer interest in the microbiome and gut health growing OptiBiotix’s portfolio of award winning first generation and industry disruptive second-generation products places it in a strong position for future growth in this exciting area of healthcare.”