Biome’s (ASX: BIO) shares were up 17% in early trade as the microbiome health company reported 85% growth in international sales.
Despite having only launched in the United Kingdom and Ireland in January this year, Biome said international sales revenue is expected to surpass $850,000 – compared to the previous corresponding period of 2023 which generated revenue of $459,000.
Biome completed a rigorous phase of recruitment across the UK, Ireland and New Zealand over the last 18 months and has assembled expert sales teams in each region to support the next 1-2 years of international business development in the practitioner and health retail channels.
The company said it has identified Western Europe as its next target for expansion and was looking forward to updating the market on its progression into the mainland market in 2025.
Across the pond Biome has completed initial regulatory reviews for the Canadian market and has eight activated probiotics products now registered with Health Canada ahead of an initial market test launch into North America.
Biome said that similar to Australia’s Therapeutic Goods Administration (TGA), Health Canada is seen as a leading regulatory body globally, enforcing high standards to achieve registration.
The registration of products with Health Canada is expected to provide significant credibility for launching Biome’s activated probiotics products into the United States market in the first half of FY25.
Biome Australia’s Managing Director and Founder, Blair Vega Norfolk commented: “This measured step in our international expansion is a critical milestone in establishing Biome’s products with health professionals globally. In Australia, activated probiotics is acknowledged by thousands of health professionals as a leading, clinically-backed brand with many targeted product applications supporting patients’ health outcomes.
“Through our international expansion efforts, Biome aims to replicate the trust, acceptance, and loyalty we have developed locally with both European and North American health practitioners and patients.
“Our goal is to position activated probiotics as the obvious choice when health professionals recommend a probiotic to their patients.”
Biome was trading at 37.5 cents.