RNS Announcements

ProBiotix Health plc (AQSE: PBX), the life sciences business developing probiotics to support cardiometabolic health, is pleased to announce a new long-term partnership agreement in South Korea.

ProBiotix has signed an exclusive commercial agreement with TopHealth, a leading South Korea based consumer products company, focused on promoting health and wellness. Under the terms of the partnership, ProBiotix has granted TopHealth the rights to sell finished consumer products direct to consumers in South Korea.

The agreement spans three areas of distribution: products marketed under the ProBiotix CholBiome^® brand, YourBiotix private turnkey solutions to be sold to South Korea based brand owners and sales of product solutions under TopHealth's own consumer brand. The first phase of the cooperation will focus on the import and direct sale of CholBiome^® X₃ to consumers. Following this, local registration will be required for TopHealth to market its own brand Bifolacto using LP_LDL in the product.

Privately owned, TopHealth develops scientifically backed, high quality health supplements with a particular focus in the area of probiotics. Since 2017, it has progressed its award winning Bifolacto brand from one product formulation within women's health, to become one of the top three fastest growing supplement brands in South Korea. TopHealth has a broad portfolio of products for digestive, immune, women's and children's health, including several dosage formats ranging from instant melt sticks to capsules, tablets and drops.

TopHealth sells online and via a number of retail outlets, and is increasingly leveraging the power of influencers, and has established a partnership with leading influencer network and personalised pharmacist consultation service PBros. In South Korea, 93% of the population actively use social media, compared to the global average of 63%, with the growing nutraceutical influencer market valued at approximately £1.3 billion in 2022.

Last year, the probiotics dietary supplements market in South Korea was estimated to be worth £350 million and is expected to increase to £870 million by 2030. Of the 52 million population, around 17% suffer from hypercholesterolemia (high cholesterol) which is driving the supplement segment of the market, as consumer awareness of heart health and metabolic disorder risks increases.

Steen Andersen, CEO of ProBiotix, commented: "We are pleased to have managed to secure a market leader like Tophealth. It is a company with a proven track record of building strong businesses in the probiotic sector, and today ranks as one of the leading brand innovators in the South Korean supplement market.

South Korea poses a perfect fit for our value proposition being a high price growth market, with an increasing focus by consumers on probiotic supplements to help manage their health.

TopHealth has worked diligently with the influencer market, harnessing their large followings to influence consumer purchasing decisions. We expect this increasing awareness to  drive demand for our products in the years ahead."

Tae Yoon Kim, Founder & CEO of TopHealth, commented: "This partnership with ProBiotix represents a significant opportunity for TopHealth, as we both share a common vision of improving consumer health through scientifically validated solutions.

Due to current Korean regulations, we are initially entering the market via CBEC (Cross-Border E-Commerce), alongside preparing a number of long-term distribution and brand strategies for future growth.

We believe that differentiated technologies such as LP_LDL will provide strong potential to deliver new innovative health solutions to Korean consumers. By combining innovative science from ProBiotix with TopHealth's deep market expertise, we aim to further strengthen our leadership in the Korean probiotics market."

 

For further information, please contact:

ProBiotix Health plc	https://probiotixhealth-ir.com/
	investors@probiotixhealth.com
Steen Andersen, Chief Executive Officer Miles Nolan, Investor Relations
Peterhouse Capital Limited Aquis Corporate Adviser and Broker
Mark Anwyl Duncan Vasey	Tel: 020 7220 9793

This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

Notes to Editors:

ProBiotix is a life sciences company that develops probiotic formulations to support cardiometabolic health. Since its formation, ProBiotix has become recognised as a global leader in microbiome modulating probiotics for use in food supplements and nutraceuticals.

The Company has a unique approach; discovering ground breaking probiotics, ensuring their benefits through robust science, and bringing to market effective finished probiotic-based products for human health across the globe.