A YORK based business which is developing compounds to tackle obesity, high cholesterol and diabetes has raised £3.3 million through its first stock market listing.
Following a reverse takeover, announced last month, OptiBiotix Health has completed a placing on AIM , with funds raised set to assist in the commercialisation of its first products.
Formed in March 2012, and based in the Innovation Centre at York Science Park, OptiBiotix agreed the sale of the business to listed investor Ducat Ventures in July.
The business has been working to develop compounds which modify the human microbiome to prevent and manage human disease.
Its aim is to discover and develop microbial strains which can be used as food ingredients or supplements for the prevention and management of human metabolic diseases, such as obesity, cholesterol and lipid distribution and diabetes.
OptiBiotix has established a pipeline of microbiome modulators that can impact on lipid and cholesterol management, energy harvest and appetite suppression.
The development pipeline is fuelled by its proprietary OptiScreen® and OptiBiotic® platform technologies designed to identify metabolic pathways and compounds that impact on human physiology and bring potential health benefits.
Stephen O'Hara, Chief Executive, said: "The science behind the human microbiome, particularly how changes to the way microbes work in our bodies can impact our health, presents a huge opportunity for us to address many widely experienced diseases and a chance to significantly improve lives worldwide.
"We are at the frontline of research into using microbiome science to tackle weight related health problems and this move to AIM provides us with the support we need to advance our pipeline of products that support and sustain weight loss and reduce lipid and cholesterol levels."