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Dietary supplements group OptiBiotix said it planned to release a financial update and forecast in the upcoming weeks.
The company also provided a strategy overview, reiterating that it aimed to sell its products globally through a mix of smaller, quick-to-market partners and larger partners typically entering markets once product credibility was established.
'The next phase of the company's strategy is to expand the group's capabilities by reinvesting proceeds from the recent sale of shares held in SkinBioTherapeutics, which generated approximately £2 million,' it added.
'These funds have provided growth capital to broaden and expand the group's sales and marketing team, accelerate new product development, increase marketing spend and explore direct-to-consumer channels in strategic markets.'
'These funds also allow the company to invest in acquiring new technologies to create a future pipeline of products.'