OptiBiotix extends distribution agreement with CTC Group

OptiBiotix Health announced on Thursday that its wholly-owned subsidiary ProBiotix Health has extended the terms, territories, and products from its distribution agreement with the CTC Group, for the sale of ‘CholBiome X3’.

The AIM-traded firm said the new agreement extended the product range from the distribution of CholBiome X3 to include ‘LPLDL’ as a bulk ingredient, and three additional products - ‘CholBiome’, ‘CholBiome BP’, and ‘CholBiome VH’.

It also extended the number of territories from the Philippines, to include non-exclusive distribution rights for Vietnam, Indonesia, Colombia, the Dominican Republic and Guatemala.

The company said the agreement was for an initial period of 24 months, and had minimum order quantities for each product and country, with a three-year business plan and forecast to allow production planning.

CTC is the global business network group of the Koen Visser Corporation, headquartered in Amsterdam, focussing on product solutions for food, beverage, personal care products and health and wellness.

OptiBiotix said the agreement recognised the success of CTC Far East Philippines in its launch and distribution of CholBiome X3 in that country.

It also said it was another important step, in this case with an existing partner, in building the LPLDL brand in more territories.

“We are pleased to announce the extension of terms, territory, and product range for CTC,” said ProBiotix commercial director Mikkel Hvid-Hansen.

“The agreement recognises the success of CTC with CholBiome X3 in the Philippines and extends the terms, territory, and product range to support sales growth.

“This is another step in extending the geographical reach of LPLDL as an ingredient and in final product to build recurring revenue streams and brand recognition across more and more territories around the world.”

At 1534 BST, shares in OptiBiotix Health were down 3.36% at 51.7p.