OPTIBIOTIX LAUNCHES NEW SUBSIDIARY: PROBIOTIX HEALTH LTD.
OptiBiotix Health Plc. (OptiBiotix), the leading life sciences company focused on harnessing the power of human microbiome modulation to improve health and wellbeing, has announced the launch of a 100% owned subsidiary, ProBiotix Health Limited (ProBiotix).
ProBiotix has been formed as a result of the rapid scientific and commercial development of the probiotics division of OptiBiotix, making it the natural next step to launch a separate company specialising solely in probiotics.
During the last 18 months the division, which commercialises its cholesterol and blood pressure reducing strain, LPLDL®, has reached commercial maturity, completing 15 of OptiBiotix’s 24 recent commercial agreements.
Adam Reynolds has been appointed Non-Executive Chairman of the ProBiotix Board with Stephen O’Hara and Per Rehné, as board directors. Adam brings a wealth of experience in equity markets, increasing shareholder value and leadership. Stephen O’Hara brings 30 years of development and a track record of building shareholder value.
Per Rehné, OptiBiotix’s commercial director, will lead the new company and will work with the board to build a team with the necessary commercial focus and biopharmaceutical expertise to fully exploit the many opportunities presenting in this space.
Mr. Rehné said: “The formation of ProBiotix Health follows OptiBiotix’s strategy of bringing its divisions to maturity, through scientific development, to create self-sustaining commercial entities with the potential for an exit or public listing.
“By focusing resources and industry specific expertise on the commercialisation of probiotic products developed using OptiBiotix’s OptiScreen® technology the board are looking to accelerate commercial development to rapidly grow revenues and shareholder value.”
The formation of a separate company with domain specific expertise allows ProBiotix to further develop the application opportunities beyond its current scope and deliver next-generation microbiome solutions for a wide range of health conditions.