OptiBiotix Health revenues soar in Q1

Life sciences group OptiBiotix Health saw revenues soar in the first quarter of its trading year thanks to its partnership agreements.

OptiBiotix said on Monday that total invoiced sales of its LPLDL and SlimBiome products came to £407,844 in the three months ended 31 March, up 928% year-on-year.

The AIM-listed group also noted that it had received £162,500 of investment income from the disposal of its shares in SkinBioTherapeutics

OptiBiotix, which signed nine commercial agreements in the first quarter of the year as part of an effort to extend its geographical reach, highlighted that 40 of its 62 deals were delivering revenues - up from just 35% in 2019.

Chief executive Stephen O'Hara said: "We anticipate further revenue growth in 2020 as existing deals contribute to full-year revenues, we extend the application of our products into new areas, and we continue to execute deals with new partners.

"We believe interest in the microbiome will continue to grow and the market opportunity increase and look forward to building a sustainable and profitable business."

As of 0935 BST, OptiBiotix shares were up 6.42% at 58p.