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Dietary supplements group OptiBiotix Health has announced that its fully-owned subsidiary ProBiotix Health has extended the terms, territories, and products from its distribution agreement with CTC for the sale of CholBiome X3.
The new agreement will extend the product range from the distribution of CholBiome X3 to include LP LDL, as a bulk ingredient and three additional products: CholBiome, CholBiome BP and CholBiome VH.
Under the agreement, the number of territories extends from the Philippines to include non-exclusive distribution rights for Vietnam, Indonesia, Colombia, the Dominican Republic and Guatemala.
The agreement is for an initial period of 24 months and has minimum order quantities for each product and country with a three-year business plan and forecast to allow production planning.
Commercial director of ProBiotix Health Mikkel Hvid-Hansen said: '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 LP LDL as an ingredient and in final product to build recurring revenue streams and brand recognition across more and more territories around the world.'
At 9:57am: (LON:OPTI) Optibiotix Health Plc share price was -0.5p at 53p