TIDMOPTI
RNS Number : 9135C
OptiBiotix Health PLC
28 February 2022
OptiBiotix Health plc
("OptiBiotix" or the "Company" or "the Group")
Trading Update
OptiBiotix Health plc (OptiBiotix), a life sciences busi ness d
eveloping compounds to tackle obesity, cardiovascular disease and
diabetes, provides the following unaudited trading update ahead of
the Group's final results for the year ended 31 December 2021.
Financial update
This update reports on the 12 months of the financial year
ending 31 December 2021. These are preliminary and unaudited
figures and are provided to give investors an insight into the
progress of the Company and may differ from reported full year
audited results.
Total invoiced sales for the Group were GBP2.2m (2020: GBP1.5m)
an increase of 46.7% on the previous year and in line with market
expectations. Administrative expenses (excluding non-cash items
such as share based payments and amortisation) were GBP2.1m (2020:
GBP1.6m), an increase of 31.3% on the previous year, largely due to
one-off recruitment and consultancy costs and investment in
expanding the team as previously announced in the Company's interim
results . Intellectual property, R&D, and travel costs
decreased as patents were granted and the effects of COVID-19
reduced research and development activity with partners. Gross
profit increased to GBP1.2m up 36.5% on 2020 (GBP879k).
Both the Company's Prebiotic and Probiotic businesses
contributed to strong sales performance and were profitable during
the year:-
OptiBiotix's wholly owned subsidiary, ProBiotix Health Ltd
(ProBiotix), delivered an EBITDA profit of GBP195k, a 122% increase
on 2020 (GBP88k) with total sales of GBP1.1m (2020: GBP821k), up
34%. Income for 2020 included a GBP250k milestone payment for the
development of LPLDL into a biopharmaceutical, giving an underlying
product sales growth of 92.6% for the period. ProBiotix signed four
commercial agreements during 2021, the most significant being the
expansion of territories with Seed Health from the USA to include
Europe, Oceania (Australia, New Zealand etc), and Asia (excluding
India) for the supply of LP(LDL) (R) in Seed(TM') s DS-01 product,
a multi-strain synbiotic product which contains OptiBiotix's
Lactobacillus plantarum LP(LDL) (R).
OptiBiotix's Prebiotic ingredient business delivered an EBITDA
profit of GBP83k, a 23% increase on 2020 (GBP67k) with total sales
of GBP1.1m (2020: GBP557K), up 97.5%. Underlying sales, excluding
licensing fees, increased by 122%. Sales of its prebiotic weight
management ingredient SlimBiome to existing partners developed
well. Three new commercial agreements were signed with market
leading partners: MyProtein part of The Hut Group, Apollo Hospitals
(India) and Nahdi Medical (KSA). The new agreements extended the
geographic reach into the main markets of Europe and Asia and the
launch of prebiotic lean muscle mass support ingredient LeanBiome
created an entry point into the lucrative and fast growing sports
nutrition market.
As at 31 December 2021, the Company held GBP2.04m cash in the
bank (2020: GBP865k). Once R&D tax credits, recoverable VAT,
and debtors and creditors are accounted for the balance is GBP3.2m
(2020: GBP1.4m).
The Company holds 20.7% of the issued share capital of
SkinBiotherapeutics plc (AIM: SBTX), which is valued as of 31
December 2021 at GBP13.7m (2020: GBP8.9m).
Stephen O'Hara, CEO of OptiBiotix, commented: "This has been
another year of progress for OptiBiotix with its probiotic and
prebiotic businesses growing sales and profitability in a
challenging and uncertain global economic environment. The Company
has made good progress against its stated aims of focusing on a
smaller number of large partners in key strategic markets and
expects to see the benefits of these in 2022 and beyond.
"The Company is in a strong position with profitable trading
divisions, an appreciating asset in SkinBioTherapeutics plc, and a
strong balance sheet allowing it to invest and expand sales and
marketing capabilities, bring its second generation products to
markets, and in-license or acquire technology to ensure a
continuous pipeline of technology solutions to ensure diversified
future growth of the group across multiple opportunities in this
exciting area of healthcare."
This announcement contains inside information for the purposes
of UK Market Abuse Regulation and the Directors of the Company are
responsible for the release of this announcement.
Forward-Looking Statements
Certain statements made in this announcement are forward-looking
statements. These forward-looking statements are not historical
facts but rather are based on the Company's current expectations,
estimates, and projections about its industry; its beliefs; and
assumptions. Words such as 'anticipates,' 'expects,' 'intends,'
'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions
are intended to identify forward-looking statements. These
statements are not guarantees of future performance and are subject
to known and unknown risks, uncertainties, and other factors, some
of which are beyond the Company's control, are difficult to
predict, and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements.
The Company cautions security holders and prospective security
holders not to place undue reliance on these forward-looking
statements, which reflect the view of the Company only as of the
date of this announcement. The forward-looking statements made in
this announcement relate only to events as of the date on which the
statements are made. The Company will not undertake any obligation
to release publicly any revisions or updates to these
forward-looking statements to reflect events, circumstances, or
unanticipated events occurring after the date of this announcement
except as required by law or by any appropriate regulatory
authority.
For further information, please contact:
OptiBiotix Health plc www.optibiotix.com
Neil Davidson, Chairman Contact via Walbrook
below
Stephen O'Hara, Chief Executive
Cairn Financial Advisers LLP (NOMAD) Tel: 020 7213 0880
Liam Murray / Jo Turner / Ludovico Lazzaretti
Cenkos Securities plc (Broker) Tel: 020 7397 8900
Callum Davidson / Neil McDonald
Michael Johnson / Russell Kerr (Sales)
Walbrook PR Ltd Mob: 07876 741 001
Anna Dunphy
About OptiBiotix - www.optibiotix.com
OptiBiotix Health plc (AIM: OPTI), which was formed in March
2012, brings science to the development of compounds which modify
the human microbiome - the collective genome of the microbes in the
body - in order to prevent and manage human disease and promote
wellness.
OptiBiotix has an extensive R&D programme working with
leading academics in the development of microbial strains,
compounds, and formulations which are used as active ingredients
and supplements. More than twenty international food and healthcare
supplement companies have signed agreements with OptiBiotix to
incorporate their human microbiome modulators into a wide range of
food products and drinks.
OptiBiotix is also developing its own range of consumer
supplements and health products. The Company's current areas of
focus include obesity, cardiovascular health, and diabetes.
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END
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