- Science research company Bioxyne, has had a positive September quarter, reporting strong sales revenue and the development of its supplement products
- Bioxyne’s clinically-tested probiotic, PCC, saw a growth in Asia direct sales
- The gut and immune-boosting supplement, along with the company’s dairy milk formulas, returned a sales revenue of nearly $930,000
- Most recently, its Vietnamese distributor launched dairy formula in Cambodia
- The company will continue to seek further opportunities in the Asia market
- Bioxyne’s shares are up a healthy 17.7 per cent, with shares trading for 2 cents each
Science research company Bioxyne, has had a positive September quarter, reporting strong sales revenue and the development of its supplement products.
Bioxyne is an Australian health and wellness products company with a focus on effectively improving gut and immune health.
Bioxyne is one of the few companies that own a patented and clinically-tested probiotic.
Its proprietary probiotic, Lactobacillus fermentum VRI-003 (PCC), has been found to boost immune and gastrointestinal health in participants during several clinical trials.
Its unique ability includes surviving in the acidic environment of the stomach as well as colonising the intestinal tract.
For the September quarter, wholesales of PCC remained consistent, whereas direct sales business in Asia is slowly growing.
The company achieved a sales revenue of $929,646, a slight dip since quarter one of the 2019 financial year which returned $933,956 in revenue.
Earlier this month, Bioxyne’s Vietnamese distributor successfully appointed a sub-distributor and launched its BK18 and Mymana Colostrum dairy health supplement drink in Cambodia.
As a result, Bioxyne products will be introduced to the Cambodia market in the upcoming quarter.
Last year, the company launched Mymana in China, South East Asia, and received registration approval from Malaysia.
The market for colostrum and dairy milk formula products has grown rapidly over the past few years and is continuing to increase.
Recently completed by the company and manufacturer Chr. Hansen of Denmark, are negotiations and a renewed exclusive licence agreement for PCC.
The exclusivity is for the global distribution to customers that are not in direct sales.
The agreement will see a growth in the minimum of annual royalties up to 2023 and constantly after.
Currently, Bioxyne is conducting research and development in Australia to include PCC into its range of dairy formula and health supplements for the direct sales market for distribution in Asia.
The focus is on sourcing good quality Australian and New Zealand products that meet the needs of the Asian markets.
Makassar, located in the Sulawesi province of Indonesia is also a prime focus for the company. Since recently opening a sales office, Bioxyne has seen a growth in membership numbers and sales.
Corporate updates include a positive operating cash flow of $458,721 and cash on hand as at September 30 2019 amounted to $2.1 million.
Bioxyne’s shares are up a healthy 17.7 per cent, with shares trading for 2 cents each at midday AEDT.