Per Rehne, commercial director at OptiBiotix Health PLC (LON:OPTI), tells Proactive's Andrew Scott they've licensed out their cholesterol-lowering bacteria to an unnamed US company, which plans to use it to create a high-value pharmaceutical drug.
Discussing some of the numbers involved, Rehne says Opti will receive a six-figure payment on the official signing of the agreement and two ‘milestone’ awards totalling seven figures.
An additional six-figure amount, plus royalties on future sales, would be due if a product was launched.
Furthermore they'll receive a seven-figure payment should the American business decide to exercise its option to broaden the licence agreement out to a global deal.
Community pharmacists are the health professionals most accessible to the public. They supply medicines in accordance with a prescription or, when legally permitted, sell them without a prescription. In addition to ensuring an accurate supply of appropriate products, their professional activities also cover counselling of patients at the time of dispensing of prescription and non-prescription drugs, drug information to health professionals, patients and the general public, and participation in health-promotion programmes. They maintain links with other health professionals in primary health care.