May 10, 2023, 08:45
Carbiotix (publ) ("Carbiotix" or "Company") announces today that the Company has signed an agreement with a top 10 global probiotics company for the development of synbiotics utilizing Carbiotix prebiotic nutraceutical ingredients. This is Carbiotix’s first customer development agreement with a leading global probiotic consumer product company and will last at least until the second half of 2024 with each party covering their own costs. Given the growing global interest in synbiotics (ie. combining prebiotics and probiotics), this agreement has the potential to increase Carbiotix’s total addressable market by up to five times by exposing CarbiAXOS to the much larger probiotic ingredients market.
Kristofer Cook, CEO of Carbiotix, comments
“I am very happy to announce this agreement for the development of synbiotics utilizing our CarbiAXOS prebiotic nutraceutical ingredients. The company in question, who prefers to stay anonymous for competitive reasons during the development phase, is considered a top 10 global probiotic consumer product company with annual sales exceeding 1 billion Euros. By combining Carbiotix’s customized CarbiAXOS prebiotic ingredients with propriety probiotics, one can generate synbiotic supplements with potentially superior properties and effects. This company will also have the possibility to leverage Carbiotix’s propriety synbiotic formulation technology under development aimed at improving the passage and effect of key active ingredients.
This agreement represents Carbiotix’s first customer development agreement with a leading global probiotic consumer product company and will last at least until the second half of 2024 with each party covering their own costs. Given the growing global interest in synbiotics, this agreement has the potential to increase Carbiotix’s total addressable market from 1 billion Euros to up to 5 billion Euros, the size of the much larger probiotic nutraceutical ingredients market (1). One goal of this agreement is to demonstrate to the entire probiotics industry the potential value of combining Carbiotix’s prebiotic ingredients with propriety probiotics with regards to improved gut and skin health, the production of Short Chain Fatty Acids (SCFAs) and other desired effects. These effects will also be able to be validated through Carbiotix’s leading microbiome diagnostic testing service LinkGut which can be leveraged to increase transparency and build consumer brand loyalty.
I am very excited about this development agreement as it allows us to further validate our approach of customizing CarbiAXOS prebiotic ingredients to meet the specific needs and desired effects of our customers. In this case, with a leading probiotics company that has both global sales and global reach. I look forward to establishing what I hope will be a long-term collaboration that potentially leads to the development and launch of many innovative and effective consumer synbiotic products, thereby securing Carbiotix as a key supplier of prebiotic ingredients for years to come. This agreement will also likely serve as a catalyst for similar agreements with other companies across all of our target customer groups, namely; probiotics, prebiotics and cosmetics companies.”
This is information that Carbiotix AB is obliged to make public according to the EU Market Abuse Regulation (MAR). The information was made publicly available by the Company’s contact person set out below on 10 May 2023.
This communication contains forward-looking statements, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as of the date they are made and are, by their nature, as is research and development work in the biotechnology segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios as described in this press release.
For further information:
Kristofer Cook, CEO
Tel: +46 (0)708-796580
Carbiotix AB (CRBX) (www.carbiotix.com) is an award-winning biotechnology company pioneering microbiome healthcare through a portfolio of prebiotic modulators and diagnostic testing services.