York-headquartered life sciences firm OptiBiotix Health says it is on a ‘firm growth path’ with rising sales and declining losses.

The company, which develops compounds to tackle obesity, high cholesterol, diabetes and skincare, has reported that in the year to December 31 it enjoyed revenues of £644,000, 41% more than the £457,000 recorded in 2022.

The company, based at the Innovation Centre in Heslington, also reported a further £62,000 in sales orders received in December 2023 which were delivered in 2024 and carried forward into 2024 accounts.

OptiBiotix recorded a loss before tax for the year of £2,043,000, compared with a profit of £2,441,000 in 2022.


However, its operating loss declined from £2,489,000 to £1,695,000.

Stephen O’Hara, CEO, said: “2023 was a year where we restructured the senior management team and focused on restoring sales growth through more active management of existing accounts, broadening our partner base by securing a number of new corporate partners in key strategic markets like the USA and Asia, and investing in e-commerce channels, while reducing operating costs.

“We continue to see sales momentum building in 2024 with our highest-ever single order of over £200,000 and sales orders in H1 approaching FY 2023.

“With appetite suppression, gut health, sugar alternatives, and modulation of the human microbiome attracting ever-increasing interest, we look to the future with a high degree of confidence.

“With the company’s first-generation products having multiple clinical studies and health claims we are now gaining commercial traction with large partners in key markets plus the excitement of bringing our industry-changing second-generation products to market.”

OptiBiotix also reported a successful placing in March 2024, which raised £1,350,500 by issuing 6,752,500 new ordinary shares of two pence.

The company added it has a strong balance sheet, worth around £9.4m as of 31 December 2023 and no debt.