Slimming products firm reports significant progress

OptiBiotix promotes good health and well-being | other

OptiBiotix Health, which develops compounds to tackle obesity, cardiovascular disease and diabetes, said it made significant progress in 2019, signing 24 new agreements and extending its reach into 46 countries.

The York-based firm reported expanding sales in all divisions and said its products are now being commercialised as food ingredients, medical devices, drug biotherapeutics and supplements in more countries across the world, helping to build brand presence.

The group reported a 928 per cent leap in sales of two of its slimming products in the first quarter of 2020. Total invoiced sales of LPLDL and SlimBiome reached £408,000 in the first three months of 2020, up from £40,000 in the same period in 2019.

OptiBiotix also signed nine commercial agreements in its first quarter, with a further four deals since then, making a total of 13 agreements for the year to date.

Stephen O'Hara, CEO of OptiBiotix, said: “Despite challenges facing the global economy caused by the Covid-19 pandemic, we remain focused on the next phase of our strategy, driving our divisions to profitability in the current year.

"This is not just about continuing to grow sales, but also about managing costs, renegotiating contracts as volumes increase, reducing the cost of goods to OptiBiotix, and focusing on higher margin products."