OptiBiotix ponders listing on NASDAQ
Company extends global reach to 24 new countries
LIFE SCIENCES firm OptiBiotix Health, which develops compounds to tackle obesity, cardiovascular disease and diabetes, has extended its geographic reach into 24 new countries and is exploring the potential of a dual NASDAQ listing.
The York-based firm said 2019 marked its transition from a research and development business to a company that can build commercial revenues.
Last year, OptiBiotix appointed Goetzpartners Securities to broaden its investor base and reduce market volatility from low liquidity on the AIM market.
As an extension of this strategy, OptiBiotix has commissioned advisers to explore the potential of a dual NASDAQ listing. NASDAQ is America’s second biggest stock exchange.
The firm said that whilst there is risk and increased cost associated with a potential dual NASDAQ listing, the high level of investor and consumer interest in the US suggests there is sufficient potential to explore this path.
In the year to November 30, OptiBiotix said 12 agreements started to generate revenue for the first time and seven others have increased sales, contributing to a rise in year-on-year sales across every division.
Total sales for the year were £808,000 with other income of £617,000, bringing the total income for the year to £1.4m – a near threefold increase. The launch of its SlimBiome weight management technology with health food chain Holland & Barrett will contribute to 2020 revenue.
This will be the first SlimBiome launch with a major retailer. OptiBiotix said Holland & Barrett is an ideal partner because of its experience in marketing food supplements.
Dr Fred Narbel, managing director of OptiBiotix’s Prebiotics division, said the deal is another step in building sales of SlimBiome across the world.
”We look to replicate similar deals in North America, India, Australia, and other major territories in 2020,” he added.
With revenues of just over £700m a year, Holland & Barrett is a leading global retailer of nutritional foods and supplements.
Stephen O’Hara, CEO of OptiBiotix, said: “This year has seen strong commercial progress with OptiBiotix extending its geographic reach and brand presence to 24 new countries and more agreements generating revenues for the first time or growing sales.”
The firm hopes to expand into new areas such as dairy, healthy snacks, and breakfast cereals.