OptiBiotex Health wins first contract for its cholesterol reducing product

2nd Jun 2015 11:15

Life sciences group OptiBiotix Health won a contract with a multinational consumer goods company to provide an option agreement for its cholesterol reducing product.The company did not disclose the name of the partner or any financial details as the terms of the agreement are confidential.OptiBiotix completed the preclinical studies for its cholesterol lowering product in November and the results of its human studies are due in September.The contract gives the company the option to enter into a definitive agreement following the results of the trial.Chief executive Stephen O'Hara said the first agreement with a global partner will help both companies "improve the health and well being of people around the world".Shares were up 1.36% to 41.05p on Tuesday at 11:20.