OptiBiotix Health plc (AIM: OPTI) announces that it has entered into a three year non-exclusive licence agreement with Bened Biomedical Ltd., Taiwan (“Bened”).
The agreement grants Bened a non-exclusive license to produce, package, promote, market, and commercialise products containing OptiBiotix’s cholesterol and blood pressure reducing strain, LPLDL®, in Taiwan, with the aim of maximising the financial return for both parties.
OptiBiotix previously announced (RNS: 13 September 2017) the signing of a Memorandum of Understanding with Bened to explore licensing and sales opportunities. This announcement confirms the successful conclusion of those discussions. Bened Biomedical Co., Ltd., was founded in 2015 as a spin off from National Yang-Ming University (“NYMU”) by Professor Tsai, Ying-Chieh. Bened is a leading probiotic research and marketing companies in Asia developing microbiome based products for neuropsychological, allergic, immunological, metabolic and aging-related disorders.
This agreement expands OptiBiotix’s sale into Taiwan with the potential to broaden the opportunity within the Asia Pacific region. Cardiovascular disease is the second leading cause of death in Taiwan, behind Cancer, and is seen as a major public health issue. The Taiwanese supplements market is predicted to grow by a 27% growth by 2021. The agreement creates a pathway to access territories in the Asia Pacific region with a total probiotic retail value of $16.1 billion, of which supplements are $700 million.
Market data from ‘TRENDS, INNOVATIONS AND OPPORTUNITIES DRIVING THE GLOBAL PROBIOTICS MARKET’ (Euromonitor International June 2017).
Per Rehne, Commercial Director of OptiBiotix, said:
“We are pleased to announce this licence agreement with Bened Biomedical which opens up the commercial opportunity for LPLDL® in Taiwan and the wider Asia Pacific Region. Bened have expressed confidence in developing and commercialising food supplement containing LPLDL® and we see it as an important step to extend global reach of LPLDL®. This is the 13th agreement for LPLDL® over the last 18 months.
“This is a strategic step in developing the sales channels into the Asian probiotic markets and the commercial reach of OptiBiotix’s LPLDL® strain. Enhancing our presence in Asia allows OptiBiotix to offer multiple product solutions through partnerships with consumer health and pharmaceutical companies, which has the potential to create multiple revenue streams, including those coming from the newly launched CholBiome products containing LPLDL®.”