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Mon 4th June
New “sugar” to undergo tests
A YORK company that has developed a calorie free sugar replacement has entered into an agreement with a global dairy company to explore collaboration opportunities.

Optibiotix, based at York Science Park, develops compounds to tackle obesity, high cholesterol and diabetes.

The business last week announced that it has entered into an evaluation agreement with a global dairy company for its SweetBiotix calorie free sweet fibres.

The agreement grants a non-exclusive license for an evaluation period to explore the potential for using the SweetBiotix technology to reduce the sugar content in a range of its dairy food products.

OptiBiotix has previously announced, in March this year, that the five successful human taste studies on the SweetBiotix product development had created interest from a number of corporates with expertise in the manufacture and commercialisation of speciality ingredients and/or consumer products.

The company said this agreement reflects interest from one of these companies in exploring the use of SweetBiotix in its branded dairy products.

Stephen O’Hara, chief executive officer of OptiBiotix, said: “We are pleased to announce the signing of this agreement for SweetBiotix with one of the world’s largest dairy companies and such a well-known global brand.

“This is part of a strategy of working with global partners who have the capability and expertise to manufacture speciality ingredients like SweetBiotix and well-known consumer brands who have the specialist application expertise to incorporate this technology into their own branded breaded, dairy, cereal and beverage consumer products.

“This approach provides a low risk way to fully exploit the wide range of opportunities offered by our SweetBiotix® technology.”

The company with which Optibiotix has entered the agreement is a global brand and one of the world’s largest providers of dairy products with an annual turnover exceeding $10 billion.

The details of the evaluation and terms of the agreement are confidential and no further details can be disclosed, however Optibiotix released a statement saying a further announcement will be made in due course.

Last week also saw Optibiotix raise £1.5 million in an oversubscribed share placing.

The company said the cash injection will be used to capitalise on commercial opportunities for its key three products.

One of the opportunities open to the business is to develop cholesterol buster LPLDL, as a pharmaceutical as well as food additive.

For the full story please see the York Press website

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