Optibiotix in next phase after selling SkinBioTherapeutic shares
The next phase of the Company’s strategy is to expand the Group’s capabilities by reinvesting proceeds from the recent sale of shares held in SkinBioTherapeutics plc, which generated approximately £2 million. These funds have provided growth capital to broaden and expand the Group’s sales and marketing team, accelerate new product development, increase marketing spend and explore direct to consumer channels in strategic markets. These funds also allow the Company to invest in acquiring new technologies to create a future pipeline of products. This supplements existing plans for expanding product ranges into sports nutrition (LeanBiome™) and healthy ageing (WellBiome®), extending SlimBiome®, OptiBiome®, and LPLDL® product lines and territories, increasing the number of larger partners, and growing gross profit by moving up the value chain to sell a greater portion of finalised products than functional ingredients.
