Business law firm Turner Parkinson has advised OptiBiotix Health, a microbiome product discovery and development company on its reverse takeover of AIM quoted Ducat Ventures plc. OptiBiotix was formed in March 2012 to develop compounds which modify the human microbiome - the collective genome of the microbes in the body - to prevent and manage human disease.
The deal will see Ducat, formerly an investing company, become a food science business to be called OptiBiotix Health plc.
Commenting on the deal Stephen Hadlow, Corporate Partner said “We have been working closely with OptiBiotix to help it achieve its growth ambitions. Life sciences and the healthcare sector are areas where we have advised many clients and continue to help growing and established businesses. Our track record has enabled us to understand the unique opportunity presented by OptiBiotix’s focus on the human microbiome and how to execute capital markets deals for companies with an opportunity to exploit a relatively new scientific area”.
James Sheridan, head of Corporate added “We are delighted to have worked alongside another growing business in the life sciences sector. This calendar year has seen a marked increase in deal activity within our markets and the team here at Turner Parkinson have been at the forefront of completing stand-out deals for both public and private companies. I am delighted that our team has not only been completing deal after deal throughout the year, but we are excited about a strong pipeline. Confidence is improving all the time and as a business we are well placed to support the opportunities being presented”
Ducat Executive Chairman Adam Reynolds said "With at least 2.8 million adults dying as a result of being overweight or obese, it is clear that weight-related health problems are one the world's biggest public health issues affecting both the developed and the developing world. We see a massive opportunity to address this market with our pipeline of products being developed to suppress appetites and reduce lipid and cholesterol levels.
"In addition, the development of novel non-digestible sugars is expected to have a huge impact on the healthy eating market place where major commercial partners are looking to find healthier sugar substitutes."