OptiBiotix Health enters MoU with Taiwan's Bened Biomedical

Josh White Sharecast | 13 Sep, 2017 16:32 | | |


OptiBiotix Health


17:30 19/09/17
  • 12,815.82
  • 0.20%25.52
  • Max: 12,852.02
  • Min: 12,750.29
  • Volume: 0
  • MM 200 : n/a
17:19 19/09/17
  • 994.33
  • 0.00%0.04
  • Max: 997.89
  • Min: 993.01
  • Volume: 0
  • MM 200 : n/a
17:19 19/09/17

Life sciences business OptiBiotix Health said it has signed a memorandum of understanding with Bened Biomedical of Taiwan on Wednesday.

The AIM-traded firm said the MoU would set the framework for a “strategic partnership” to explore licensing and sales opportunities and the potential of combining relevant assets over the next 12 months.

It said Bened Biomedical was founded in 2015 as a spin-off from National Yang-Ming University by Professor Tsai, Ying-Chieh.

Bened is a leading probiotic research and marketing company, developing microbiome-based products for neuropsychological, allergic, immunological, metabolic and aging-related disorders.

In the past two years, its flagship psychobiotic PS128 products - which reportedly help improve mental and emotional health - had been sold through both online and offline channels in more than 10 countries, generating revenues in the excess of $2m.

OptiBiotix said the MoU provided a 12-month period to explore opportunities relating to its own cholesterol and blood pressure reducing LPLDL strain and Bened's PS128, a psychobiotic that had shown encouraging results in reducing anxiety and depression in animal studies.

“We are pleased to announce this strategic partnership with Bened Biomedical and see a strong rationale for both companies to work together based on a complementary understanding of the science in different application areas of the microbiome,” said OptiBiotix chief executive officer Stephen O'Hara.

“We are excited by recent advances in psychobiotics which have the potential to address a range of mental and emotional health issues such as anxiety, depression, autism and Parkinson's.

“We strongly believe Bened's scientific and commercial capabilities in psychobiotics creates potential for OptiBiotix to bring new products to new markets and extend both our product offering and global reach in the microbiome field to bring better science and better health to all.”

Frankie Cheng, chief executive officer of Bened Biomedical, said that OptiBiotix operated in a “very exciting and progressive” area that had the potential to bring “real” health benefits.

“It has exciting products with strong science and clinical studies which we believe can be commercialised successfully through our distribution capability,” Cheng added.

“We see mutual benefit in OptiBiotix's commercial advances in Europe and US as a way to bring our PS128 product to a wider audience.”

More news

17:59 Credit Suisse upgrades Tullow Oil, downgrades Ophir Energy

Analysts at Credit Suisse rejigged their recommendations for European Exploration and Production outfits, telling clients the sector was better positioned to emerge from the cycle, while its year-to-date de-rating had made it more "attractive".

17:47 Results round-up

Online grocery specialist Ocado reported a slight acceleration of growth in the third quarter of the year but comments about a short-term spike in costs hit the shares on Tuesday.

17:36 Investec says Debenhams dividend may be unsustainable

Investec reiterated its 'sell' recommendation on Debenham's on the back of expectations for foreign exchange headwinds, unanswered questions around execution and profitability and the ongoing shift towards 'on-line'.

17:25 London close: FTSE higher on the day, investors wait for Fed statement

Shares finished higher on Tuesday as the pound gave up early gains against the dollar.

17:20 Europe close: Stocks end with slight gains ahead of Fed

Stocks finished slightly higher as investors listened-in on a speech by US president Donald Trump at the United Nations and waited on the result of the US central bank's policy decisions the next day.

16:16 BlueRock Diamond nearing monthly target production

BlueRock Diamonds, the diamond mining company and operator of the Kareevlei Diamond Mine in the Kimberley region of South Africa, said it was nearing its target of 25,000 tonnes of production per month.

15:59 FTSE 100 movers: Food retailers rise on sales, GlaxoSmithKline softens

The FTSE 100 was in the green on Tuesday afternoon, as the pound gave up early gains against the dollar.

15:52 Swallowfield boosts operating profit 180%, appoints new finance director

UK-based personal care and beauty products group Swallowfield announced on Tuesday that it had grown both full-year profits and revenue.

15:49 Inland Homes makes outline planning application on Wilton Park

Brownfield-focussed housebuilder Inland Homes announced on Tuesday that it has made an outline planning application on its 100-acre flagship development site ‘Wilton Park’ in Beaconsfield, Buckinghamshire.

15:47 US open: Merger speculation sends telecoms names higher

Stocks were holding slightly higher ahead as investors listened in on a speech by the American president to the United Nations's general assembly and ahead of the US Federal Reserve's policy decision the next day.