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OptiBiotix grants LPLDL licence to Canada's Genuine Health
18th Nov 2020 12:23
(Sharecast News) - Life sciences company OptiBiotix Health announced on Wednesday that its wholly-owned subsidiary ProBiotix Health has granted a non-exclusive licence for 'LPLDL' to Genuine Health, for a cardiovascular health product in Canada and the United States.
The AIM-traded firm described Genuine Health as an established Canadian natural health company, that had been formulating natural products for more than 25 years.
As part of the agreement, Genuine Health would submit products containing LPLDL for cardiovascular and other health claims to Health Canada - a department of the government of Canada responsible for the country's federal health policy.
The company said it believed that, if registration was successful, LPLDL would be the first probiotic supplement in the Canadian market to obtain a specific health claim for cardiovascular health.
OptiBiotic said the agreement was "another step" in building brand and product presence in the large North American market as a dietary supplement, a live biotherapeutic product, or a functional ingredient.
The agreement would run for an initial period of 36 months.
"We are pleased to have signed an agreement with Genuine Health in such a large and important market for probiotic products," said ProBiotix Health commercial director Mikkel Hvid-Hansen.
"We believe working with Genuine Health creates a unique opportunity to achieve a probiotic health claim for cardiovascular health and provide further product differentiation in the North American market.
"We see this as another step in building revenues and market presence of LPLDL inside a wide range of products, presented in different presentations and formulations, for cardiovascular health in both consumer and pharmaceutical markets around the world."
At 1206 GMT, shares in OptiBiotix Health were up 1.59% at 53.84p.
The AIM-traded firm described Genuine Health as an established Canadian natural health company, that had been formulating natural products for more than 25 years.
As part of the agreement, Genuine Health would submit products containing LPLDL for cardiovascular and other health claims to Health Canada - a department of the government of Canada responsible for the country's federal health policy.
The company said it believed that, if registration was successful, LPLDL would be the first probiotic supplement in the Canadian market to obtain a specific health claim for cardiovascular health.
OptiBiotic said the agreement was "another step" in building brand and product presence in the large North American market as a dietary supplement, a live biotherapeutic product, or a functional ingredient.
The agreement would run for an initial period of 36 months.
"We are pleased to have signed an agreement with Genuine Health in such a large and important market for probiotic products," said ProBiotix Health commercial director Mikkel Hvid-Hansen.
"We believe working with Genuine Health creates a unique opportunity to achieve a probiotic health claim for cardiovascular health and provide further product differentiation in the North American market.
"We see this as another step in building revenues and market presence of LPLDL inside a wide range of products, presented in different presentations and formulations, for cardiovascular health in both consumer and pharmaceutical markets around the world."
At 1206 GMT, shares in OptiBiotix Health were up 1.59% at 53.84p.