The $6.3m investment corresponds to a 13% ownership in the company
Probi has invested approximately NZD 9m ($6.3m) in shares in Blis Technologies, corresponding to a 13% ownership. The investment is part of a long-term strategic collaboration between the companies.
Blis Technologies is a probiotic company with clinically documented bacterial strains for supporting natural immune defence and preventing infections of the mouth and throat. The strains also reportedly contribute to a healthy set of teeth and gums. The company’s strains have been used in New Zealand, Australia and Asia, as well as in Europe and in North America.
The companies have signed a licensing and distribution agreement through which Probi will manufacture Blis’ bacterial strains and offer these to its customers. The companies will also collaborate in R&D.
“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,” said 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,” said 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,” Rönnlund said.
Through the investment, Probi will become the second largest shareholder in the company, and will also have its own board representative.