A YORK-BASED life sciences business specialising in tackling obesity, high cholesterol, diabetes and skin care has announced an increase in its investment in a majority-owned subsidiary.
OptiBiotix Health plc has made an investment of £75,000 in The Health Weight Loss Company Limited (THWLC) to provide working capital to support marketing and an increase in stock levels. This investment increases OptiBiotix’s shareholding to 64 per cent.
OptiBiotix announced on July 26 that it had acquired a majority shareholding in THWLC to incubate new technological solutions and develop wider product applications in weight management.
THWLC produces GoFigure products containing SlimBiome which incorporates OptiBiotix’s patented combination of natural ingredients developed by experts to support weight loss.
The increased investment will provide THWLC with the resources to build on its early success to invest in product marketing at key seasonal periods, provide the marketing support required for listing in major retail outlets and increase the number of retail listings, particularly with major retail outlets, selling GoFigure products both within the UK and internationally
Stephen O’Hara, chief executive of OptiBiotix, said: “We are really pleased with the progress of THWLC and the rapid sales growth of its GoFigure products, which have shown the unique ability of our SlimBiome technology to help customers lose weight without feeling hungry, leading to easier and more successful dieting.
“Our belief in the potential of THWLC is demonstrated by this additional investment which provides funds to invest in marketing, to build stock levels to meet the seasonal demand for weight management products, and to support an increase in retail listings, particularly with major retail outlets.
“I am sure investors will recognise that given the early success of GoFigure products, which has been achieved without any marketing, there is potential for strong sales growth of GoFigure products over the next few years and substantial value enhancement.”
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here