Monday 4 May 2020
Here is our summary of the day's hottest RNS alerts from across London's Alternative Investments Market (AIM).
Optibiotix Health Plc (OPTI.L)
Non-exclusive agreement with Smart For Life
OptiBiotix Health plc, a life sciences business developing compounds to tackle obesity, high
cholesterol, diabetes and skincare, announced that the Company has entered into a non-exclusive license agreement for its SlimBiome® trademark with Smart For Life, Inc. and related launch of cookies containing OptiBiotix's SlimBiome® proprietary weight management technology in the USA and Canada. The license is contingent on an annual minimum order quantity and the first order within thirty days of signing the agreement.
Smart For Life ( https://www.smartforlife.com ) is a US-based company that was founded in 2002 by Dr. Sasson Moulavi, a bariatric doctor. Smart For Life develops and sells scientifically formulated weight management solutions that balance fibre, protein and complex carbohydrates to help naturally suppress appetite and works with natural ingredients which are scientifically backed.
This is another commercial strategic step by OptiBiotix to facilitate customer access to its award-winning SlimBiome® technology as the Smart For Life cookies are available online; at Walmart in the USA and soon at Costco in Canada.
Open Orphan Plc (ORPH.L)
Major New Contract and Directorate Change
Open Orphan plc, the rapidly growing specialist CRO pharmaceutical services company which has a focus on orphan drugs and is the world leader in the testing of vaccines and antivirals using human challenge study models, announced the signing of a new contract with a US biotechnology Company for the provision of a respiratory syncytial virus (RSV) human challenge study.
Challenge study projected to deliver £3.5 million in revenue in 2020
Utilising complementary in-house Clinical Research Organisation ("CRO") services of hVIVO and Venn Life Sciences ("Venn") following completion of merger with hVIVO
Trevor Phillips to stand down as CEO. Strong management team in place with Cathal Friel, continuing as Executive Chairman and running the business alongside a leadership team focused on delivering growth at a very exciting time for the Company
Major New Contract with US Biotechnology Company
The company has signed a contract with a US Biotech company for the provision of an RSV human challenge study with work to deliver the study expected to commence shortly. The contract is projected to deliver £3.5 million in revenue all of which is expected to be recognised in 2020. The signing of this new contract follows the signing in March of this year of another RSV human challenge contract, now underway, for an initial £3.2 million.
This contract represents continued conversion of Open Orphan's substantial pipeline, generation of significant cash flow and further validates its position as world leader in the provision of viral challenge studies, vaccine and viral laboratory services, supporting product development for customers developing antivirals, vaccines and respiratory therapeutics. These services are particularly relevant and topical in environment of heightened awareness of virology following the onset of Covid-19.
This study will commence in hVIVO's unique London-based quarantine unit in the third quarter of 2020, which is Europe's only commercial 24-bed quarantine clinic with on-site virology laboratory. hVIVO is the only company globally with the capability to run an RSV human challenge study.
This agreement utilises what is now a broader and complementary in-house service offering. All aspects of the study will be conducted within Open Orphan, with data management, biostats and medical writing being provided by our Venn Life Sciences colleagues leading to the elimination of sub-contractor costs and retention of more contracted revenue. We look forward to delivering the work for this US Biotech Company and further developing our relationship.
Concepta Plc (CPT.L)
Partnership agreement with Abingdon Health for App Dx
Concepta customers to access rapid test results and support services from their smartphones.
Concepta PLC, the innovative UK personalised healthcare company and developer of the proprietary self-test platform ("myLotus®"), the UK's most accurate home-use fertility tracking and pregnancy testing system, announces that it has signed an exclusive global licence agreement with Abingdon Health Limited for the use of its App Dx IP for human pregnancy and fertility.
App Dx uses cutting-edge software to transform a smartphone into a powerful lateral flow reader, combining rapid results delivery with flexible data management. By utilising in-built smartphone camera functionality, App Dx can read single or multiple test lines to give qualitative or quantitative test results, providing unambiguous lab-quality data for immediate viewing or secure transfer to a clinic or data hub.
App Dx unlocks the potential for Concepta customers to access rapid test results, further information and connectivity with supporting services at home. Tests can be performed in any location , enabling quick decision making and allowing the patient and/or healthcare professional to follow-up for getting the right advice and easy connectivity to a healthcare team. The inclusion of intuitive workflows and in-built visual instructions enhance the patient experience and reduce the chance of user error.
Concepta and Abingdon Health will commence d evelopment work in May 2020 . The partnership follows the recent outsourcing agreement with Abingdon Health for the manufacture of myLotus® and marks Concepta's future strategic intention to provide a complementary technology to the Company's existing portfolio, and a platform that responds to evolving market needs as consumer connectivity in the Femtech space continues to build momentum.