Probi has invested approximately NZD 9 million in newly issued shares in Blis Technologies Ltd, corresponding to a 13% ownership. The investment is part of a long-term strategic collaboration between the companies.
Blis Technologies, which is listed on the New Zealand stock exchange NZX, is an innovative probiotic company with clinically documented bacterial strains for supporting our natural immune defense, preventing infections of the mouth and throat. The strains also contribute to a healthy set of teeth and gums. Blis’ clinically documented strains have a long and successful history of use in New Zealand, Australia and Asia, as well as in Europe and in North America.
Long-term strategic partnership
In connection with the investment, Probi® and Blis have signed a licensing and distribution agreement which means that Probi will manufacture Blis bacterial strains and offer these to Probi’s customers around the world. The companies will furthermore collaborate in research and development.
“This is a very exciting partnership for Probi, Blis is an innovative and dynamic company with a high scientific profile supporting its products and a long history of research. Through this partnership, we will be able to broaden our portfolio with more health areas and strengthen our position within clinically documented bacterial strains. At the same time, we can utilize our greater production capacity effectively and thereby contribute to higher profitability for both Probi and Blis,” says Tom Rönnlund, CEO of Probi.
“We are very pleased to have a company like Probi both as an owner and partner. With Probi, we get a strong partner who can offer high-quality production of our probiotic strains and who has a strong position in the American market where we see great potential for our products. With the capital injection from the new share issue, we will also be able to continue to develop new products with Probi,” says Brian Watson, CEO of Blis Technologies.
“We aim to initiate production of Blis products from Q4 this year. In parallel, we will roll out Blis bacterial strains in our portfolio during the autumn,” Tom concludes.
Through the investment, Probi will become the 2nd largest shareholder in Blis and will also have its own board representative in the company. The investment will be reported as a financial investment in Probi’s balance sheet. The share acquisition is being financed through liquid funds and Probi has a medium to long-term perspective on its holding in Blis. In connection with the subscription of the newly issued shares, Probi has undertaken not to sell the shares within a twelve-month period.
This information is information that Probi AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 11.00 CET on 6 July 2021.
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