The life sciences company, which is developing compounds to tackle obesity, high cholesterol, diabetes and skincare, said Christopher Nother is joining the firm on a part time consultancy basis to support the growth of LPLDL in pharma, either as an over the counter (OTC) product used by itself or in combination with existing treatments, or a drug biotherapeutic in markets outside the USA.
READ: OptiBiotix Health inks agreement to jointly fund and carry out a research project involving its microbiome products
Nother joins the firm after previously leading global business development at Nypro Healthcare’s Pharmaceutical Delivery Systems division. Nypro, now known as Jabil Healthcare, describes itself as the world’s leading healthcare contract manufacturing organisation, while its parent company, Jabil Inc, is a Fortune 200 manufacturing solutions provider.
Meanwhile, OptiBiotix said Taru Jain will join the company’s management team in March to focus on business development and growing sales in the “strategically important” Indian and Asian markets. The firm noted that Jain has “over 10 years of experience across the Indian healthcare value chain as well as primary knowledge of the demand pattern of the prescription and OTC market”.
Jain previously worked as executive director at Akums Drugs & Pharmaceuticals Ltd, one of India’s largest drug manufacturers, with responsibilities including worldwide in-licensing, marketing strategy and design, client and account relationship management and representing the company at national and international forums.
“OptiBiotix made strong progress last year in growing sales and reducing costs and enters 2021 with a strong balance sheet and lead pipeline. The company is now focused on the next stage of its development: growing sales and profitability in its divisions, and commercialising its next-generation products (e.g. microbiome modulators, SweetBiotix, and drug biotherapeutics)”, OptiBiotix chief executive Stephen O’Hara said in a statement.
“We now have more opportunities across a broader range of areas that can effectively be commercialised with the size of the current team. Chris and Taru bring additional capacity, expertise and a network of contacts in product areas and markets of strategic interest which will support future revenue growth. These appointments are consistent with our strategy of developing multiple revenue streams from both consumer and pharmaceutical products across all OptiBiotix technology platforms”, he added.
Shares in the firm jumped 3.2% to 55.2p in early deals on Tuesday.