OptiBiotix Health signs distribution agreement for SlimBiome in Bulgaria

Life sciences business OptiBiotix Health has entered into a three-year distribution agreement with an unnamed “established and recognised” company, it announced on Tuesday, to exclusively distribute and commercialise its CE-marked medical device ‘SlimBiome Medical’ in Bulgaria.

The AIM-traded firm said the unidentified company had an established track record of taking new products to market directly through pharmacies and wholesalers, via its a distribution network in Bulgaria.

It said the agreement granted the company exclusive distribution in Bulgaria in return for meeting annual sales targets to retain exclusivity.

The agreement followed on from the announcement that SlimBiome was granted medical device status and a CE-mark in November, and the appointment of Nutrilinea as a manufacturer.

SlimBiome was clinically proven in a number of clinical studies to promote weight loss, OptiBiotix said, and would be sold as 30 single-dose sachets to pharmacies and wholesalers in Bulgaria.

The company required its identity and the terms of the agreement to remain confidential to protect its commercial interests and launch plans, the board explained, and as such no further details could be disclosed.

“We are pleased to announce this exclusive distribution deal after achieving medical device registration and CE-mark for SlimBiome in 2018,” said the managing director of the OptiBiotix prebiotics division Fred Narbel.

“Even more encouraging is that the company expects to place an early order to support a consumer launch in the near future.

“We are delighted at the high level of interest we have received in SlimBiome from an industry which recognises the value of protective patents and trademarks, two industry awards, clinical studies demonstrating safety and efficacy, and now a medical device registration and CE-mark.”

Narbel said those all provided “clear differentiation” from other weight-loss products, increasing the likelihood of commercial success.

“We hope we can continue to convert this interest into substantial revenues in the months and years ahead as we build the sales network for SlimBiome across Europe and beyond.”