OptiBiotix Health, a York-based life sciences and biotechnology company, has agreed a three-year distribution deal for Greece and Cyprus.

The biotech firm has signed an agreement with an unnamed local partner for the exclusive distribution and commercialisation of its own label CholBiome product, a cholesterol and blood pressure reducing bacteria strain.

The deal grants the partner company exclusive distribution rights, in exchange for local product registration, and sets out the three years’ sales targets required to retain that exclusivity. This deal follows Optibotix’s UK online launch and its September CholBiome distribution agreement in Bulgaria, strengthening its European expansion strategy.

The commercial director for OptiBiotix, Per Rehné, said: “We are pleased to announce this agreement which extends the sales of our CholBiome products into Cyprus and Greece. We chose the company for its market access in Cyprus and Greece and solid track record for growing product sales.

“This agreement is a strategic step to build the distribution sales channel for CholBiome products in the European market and eliminates intermediates in the supply chain with shorter route to market and higher value to OptiBiotix.

“The company has already placed an initial order to be used for pre-marketing activities and we expect further orders to support a consumer launch in Q1 2019.”

The company’s identity and the terms of the agreement remain confidential in order to protect its commercial interests and launch plans.