Sunday, October 25, 2020

Period of ‘exciting progress’ for life sciences firm

The Chief Executive of OptiBiotix Health has welcomed “another period of exciting progress” with a rise in revenues and a reduction in pre-tax losses.

For the six months to 30 June 2020, the listed York-based life sciences business reported revenue of £744,821 – up from £148,818 in the same period in 2019. Moreover, pre-tax losses reduced to £614,909 from £1.26 million the year before,

“This has been another period of exciting progress for OptiBiotix with a 400% increase in sales and a large reduction in costs compared to the same period last year,” said Chief Executive Stephen O’Hara.

“Our divisions are now making strong progress towards profitability with more agreements generating revenues, existing partners increasing sales, and more retail partners launching successful new products.

“Our products are now being commercialised with large retail and pharmaceutical partners boosting consumer awareness and confidence in our brands with OptiBiotix now being identified as a key player in the microbiome space within industry.”

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