OptiBiotix reports strong progress

The York-based firm said it has signed a number of commercial deals of increasing value as it builds multiple revenue streams across the world.

The group reported revenue of £514,000 for the year to November 30. The majority of this income (£434,000) was generated in the second half of the year as an increasing number of agreements started to generate revenues.

These figures, albeit from a low base, represent a 543 per cent increase in income from the first half to the second half and a 169 per cent increase on 2017 income of £191,000.

The firm said it hopes to see further growth in 2019 as a result of new product launches and new agreements.

OptiBiotix said it has completed five successful human taste studies on its SweetBiotix product.

It has also signed a non-exclusive license with one of the world’s largest providers of dairy products to explore the potential for using SweetBiotix technology to reduce the sugar content in a range of its dairy food products.

Independent human studies by Oxford Brookes University showed that volunteers who took the firm’s SlimBiome product compared with a placebo felt fuller and were less hungry, had fewer food cravings and ate less sweet and fatty foods.

Stephen O’Hara, CEO of OptiBiotix, said: “OptiBiotix has made significant progress in the last 12 months, signing 18 commercial agreements making a total of 28 agreements since launching products in May 2017.

“OptiBiotix’s products are now being commercialised as food ingredients, medical devices, drug biotherapeutics and supplements in around 30 countries across the world. Importantly, these agreements are starting to generate income with revenue growth in the second half of the year significantly higher than at the start of the year.”