OptiBiotix Health plc (AIM: OPTI), a life sciences business developing products to tackle obesity, high cholesterol and diabetes, has told DirectorsTalk this morning that it has acquired the exclusive rights to intellectual property developed by The University of Manchester in skin health, creating a majority owned joint venture (‘JV’) which will be called SkinBiotix Limited.
Under the terms of the agreement, OptiBiotix have invested GBP260K into the JV and will own 52% of SkinBiotix Limited, with the remaining 48% owned by the University of Manchester and key researchers.
The University of Manchester has an international reputation for its research into skin diseases and is one of Europe’s leading dermatology clinical trial units. This agreement brings together the University’s intellectual property and research expertise in skin health with OptiBiotix’s microbiome modulating expertise and commercial focus. This is expected to create new product opportunities in multi-billion dollar global markets including:-
-- Skincare ($121bn) -- Health Care Acquired Infections ($82bn) -- Eczema ($3.8bn) -- Psoriasis ($7.4bn) -- Wound care ($18.3bn)
OptiBiotix has a strategy to partner with multiple organisations and this JV agreement accelerates OptiBiotix’s plan of extending its Optiscreen(R) and OptiBiotix(R) technology platforms into new application areas. The Company believes modulating the skin microbiome to treat chronic skin health problems provides significant growth opportunities and the potential for new partnering and product opportunities.
Stephen O’Hara, OptiBiotix’s Chief Executive Officer, commented: “We are pleased to announce this joint venture and acquisition of skin health intellectual property from the University of Manchester. We believe this deal accelerates OptiBiotix’s strategic intent to grow the Company by extending our platform technologies into new application areas where there is a large global need. This division is expected to create new partner and product opportunities, make a significant contribution to the group over the coming years, and help us to build a strong and sustainable business for our shareholders.”
