Clinically-proven condition-specific probiotic products


Biome Australia (ASX: BIO) is focused on becoming a global leader in the complementary medicine industry, offering clinically-proven condition-specific probiotic products backed by double blinded placebo controlled clinical research programs that demonstrate their efficacy.

Activated Probiotics®, Biome’s flagship range of novel live-biotherapeutics (probiotics), was created in partnership with world leading organizations in microbiome research. The products use unique encapsulation delivery technologies that improve their stability and efficacy.

Biome is a certified B Corporation, a designation that a business is meeting high standards of verified performance, accountability and transparency.

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Incorporated in Australia in 2018 Biome was listed on the Australian Stock Exchange in November 2021. In partnership with some of the world’s leading microbiome research and development organisations, Biome has produced several unique live biotherapeutic (probiotic) products with innovative delivery technologies that improve their stability and efficacy to create its flagship range of complementary medicines.

Supported by clinical research, including randomised double-blind placebo-controlled trials, the Activated Probiotics range helps prevent and support the management of various health concerns, including low mood and sleep, bone health, iron malabsorption, mild eczema and IBS. Through practitioner distribution, Biome is educating health professionals on the newfound systemic health effects of the gut microbiota, helping them to provide innovative, evidence-based natural medicines for the management of some of humanity’s most prevalent and chronic health concerns.

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Clear Business Strategy

Underpinning the Biome offering to the consumer is the significant level of clinical research undertaken to establish efficacy of the product range. The ability to offer clinically proven condition-specific probiotic products places Biome as a leading-edge provider of quality probiotics. In addition to this Biome can extract and maintain a price premium over competitors via its sales strategy of:

  • Selling via qualified health practitioners in pharmacies and private practice,
  • Locating products at script-in counter (enabling companion selling with scripts)
  • Providing extensive education of in store pharmacy staff and health professionals
  • Limiting exposure to discounting, transactional based chains.

The success of this strategy has been validated by a substantial increase in sales during the past two years of 78% (2022 vs 2021) and 75% (2023 vs 2022).

Significant Investment Upside

Since listing on the ASX Biome has maintained an exceptional rate of sales growth which has not been rewarded by the market via an increase in share price. Biome achieved sales of $7.23m in the 2023 financial year. This represents a 75% increase compared to the previous financial year. The full year 2022 sales revenue was also a very impressive 78% above 2021.

The gross margin on sales revenue has been steadily increasing from 51% in FY2021 to 58% in FY2022. As of the end of the March quarter 2023 gross margin has again increased to 59% of sales revenue. The proportion of sales being generated in products with a higher overall sales value and margin (product mix) has increased, as well as a focus on costs, both of which are driving the improved margin performance. Since the November 2021 IPO Biome has not been required to raise capital and dilute existing shareholders. While still in a negative cash flow position, Canary anticipates the Company will become cash flow positive at some stage during FY24.

Scalable Business Model

Biome has demonstrated in the last two years it has a highly scalable business model. Since the IPO the number of distribution points have increased by more than 50% to over 3,000 in Australia and New Zealand. Priceline Pharmacy, with 370 high volume service-based pharmacies, was a recent major distribution agreement signing with sales beginning in the 2nd quarter of 2023. While the growth in distribution points has been impressive the same store pharmacy sales growth has been exceptional. Terry White Chemmart (TWCM) has recorded a 59% growth in same store sales in the first half of 2023. Activated Probiotics is now the number 1 growth brand in TWCM and number 2 for total revenue in the category.

While focus since the IPO has been on expanding the ANZ business significant opportunities exist in the United Kingdom and the rest of Europe. Biome has established distribution in the United Kingdom and is in the process of increasing marketing spend and recruiting and training additional sales and education staff. The high margin, shelf stable (non-refrigerated), long life (2 plus years) product is ideal and highly cost effective for distribution and sales in overseas countries.

A key driver in the substantial growth of the product portfolio is the unique training and education model in the pharmacy and practitioner channel (refer below).

Successful Management

Biome has a highly credentialed and experienced team led by the Managing Director and CEO Blair Norfolk. Blair has many years of experience in the pharmaceutical and natural medicine industries. As the founding Managing Director of Biome, Blair has successfully secured the unique products underpinning the company, facilitated clinical trials, established distribution, recruited staff and led the IPO process. It is Blair’s passion and drive that has established Biome to where it is today.

Supporting Blair in the day to day running of Biome are Douglas Loh – Chief Financial Officer, Dr. Jaroslav Boublik – Chief Science Officer and Rebecca Edwards – Education Director (all biographies below).

Overseeing operations at a Board level is Ilario Faenza. Ilario is the Chairman of Biome and has over 30 years of corporate and director experience in Australia, United States, New Zealand and the United Kingdom. Ilario has also been a Director of multiple ASX listed companies over the past 22 years including Eftel Limited and Tel. Pacific. Ilario’s significant audit and risk committee experience ensures Biome’s governance processes are robust and of a high standard.

High Barriers To Entry

The most significant barrier to entry, and point of difference underpinning the Biome offering, is the high level of clinical research undertaken to ensure stability and confirm efficacy. Biome’s flagship range of novel live-biotherapeutics (probiotics) have been created in partnership with world leading organisations in microbiome research. Ongoing clinical trials will ensure that this strategic advantage is maintained. In addition to the proven efficacy Biome’s product is:

  • Fridge free
  • Vegan
  • One a day formulation
  • Long use by dates

Biome is also a certified B Corporation, a designation that a business is meeting high standards of verified performance, accountability, and transparency. Biome also holds extensive Trademark registrations for the Activated Probiotics range.

Biome owns the formulations of 6 of its Activated Probiotics products, including all of the top 4 selling lines and has exclusive distribution licenses for 5 years on many of its other key lines. Where Biome does not own a product formulation, its strategy is to engage in clinical research to leverage local IP in its branded product. Between Biomes ownership of product formulations and long-term exclusivity, Canary believes Biome has significant protection on its Activated Probiotic product range from other market competitors.

The company’s unique strategy of training and full-service approach with pharmacists, complementary medicine practitioners and other medical professionals develops relationships which are strong and difficult to replicate. This creates a strong barrier against other brands entering the market and existing brands copying Biome’s unique strategy.

The Potential of Probiotics

Probiotics are microorganisms that have been found to be beneficial to health when taken as a supplement. Within the gut, probiotics that we take and the microorganisms that live in our body perform many different biological actions that can influence our health. They can help to improve digestive health by inhibiting the growth of pathogens and supporting the balance of gut microorganisms; they can also improve the function of other body systems beyond the digestive tract such as the immune system or the central nervous system. They achieve these effects through many different mechanisms, such as producing biologically active molecules which can be absorbed like nutrients and travel through the body. Different probiotic supplements will offer different health benefits depending on the probiotic strains being used and the biological actions they can perform.

The global market for probiotic products was valued at US$47.6 billion in 2021. Biome’s Activated Probiotics® range includes 14 evidence-based probiotics, each targeting a different aspect of human health with clinically-tested probiotic strains. These are shelf-stable and use of Microbac™ technology to ensure up to 5x more effective delivery.

Sales Model

Biome uses a unique training and education driven model to drive sales in the pharmacy and practitioner channels.

  • The Biome sales team comprises of health qualified Practitioner Education Consultants and Territory Managers
  • Practitioner Education Consultants undertake high level product detailing and training in community pharmacies and with independent health practitioners
  • High quality training and education develops stronger trust and relationships with health practitioners
  • This high level of support leads to active recommendation of Biome Australia’s probiotics
  • Digital educational content and assets effectively support the national sales team in servicing practitioner markets
  • Health Clinics are provided to key accounts to gain trust and deliver the knowledge required to drive rapid sales growth

Consistent Strong Sales Growth



Distribution Network

Biome currently has over 3,000 distribution points in pharmacies and independent health practitioners across Australia. The company has a distribution agreement with Terry White Chemmart, Priceline Pharmacy and the leading pharmacy distributors Symbion (EBOS) and API (Wesfarmers Health) Sales Model.

Product Overview

Current Clinical Pipeline

Biome Australia is focusing on becoming a global leader in the complementary medicine industry, offering clinically-proven, condition-specific probiotic products.

Biome is supporting novel clinical research to cement and extend the evidence base of its probiotic products. Current ongoing clinical trials are being conducted by Biome’s academic research partners La Trobe University and Federation University. Expanding the evidence base of Biome’s products is key to increasing health professional trust in product efficacy. This strengthens one of Biome’s key strategies, which is to promote the recommendation of its products alongside prescription medications for specific health concerns in order to improve patient outcomes. This level of research also solidifies Biome’s competitive advantage and will support commercial growth opportunities for the business.



Examples of Clinical Research/Publications

Biome Daily

Berggren A, Lazou Ahrén I, Larsson N, Önning G. Randomised, double-blind and placebo-controlled study using new probiotic lactobacilli for strengthening the body immune defence against viral infections. Eur J Nutr [Internet]. 2011 Apr 28;50(3):203–10. Available from:

Busch R, Gruenwald J, Dudek S. Randomized, double blind and placebo controlled study using a combination of two probiotic Lactobacilli to alleviate symptoms and frequency of common cold. Food Nutr Sci [Internet]. 2013;04(11):13–20. Available from:

Biome Breathe

Drago L, Iemoli E, Rodighiero V, Nicola L, De Vecchi E, Piconi S. Effects of Lactobacillus salivarius LS01 (DSM 22775) treatment on adult atopic dermatitis: A randomized placebo-controlled study. Int J Immunopathol Pharmacol. 2011;24(4):1037–48. Available from:

Biome Lift

Marotta A, Sarno E, Casale A Del, Pane M, Mogna L, Amoruso A, et al. Effects of probiotics on cognitive reactivity, mood, and sleep quality. Front Psychiatry. 2019;10(164):1–11. Available from:

Biome Osteo

Jansson PA, Curiac D, Lazou Ahrén I, Hansson F, Martinsson Niskanen T, Sjögren K, et al. Probiotic treatment using a mix of three Lactobacillus strains for lumbar spine bone loss in postmenopausal women: a randomised, double-blind, placebo-controlled, multicentre trial. Lancet Rheumatol [Internet]. 2019;1(3):e154–62. Available from:

Biome Iron

Hoppe M, Önning G, Berggren A, Hulthén L. Probiotic strain Lactobacillus plantarum 299v increases iron absorption from an iron-supplemented fruit drink: A double-isotope cross-over single-blind study in women of reproductive age. Br J Nutr. 2015;114(8):1195–202. Available from:

Hoppe M, Önning G, Hulthén L. Freeze-dried Lactobacillus plantarum 299v increases iron absorption in young females – Double isotope sequential single-blind studies in menstruating women. PLoS One. 2017;12(12):1–15. Available from:

AXP Recovery Probiotic

Jäger R, Purpura M, Stone JD, Turner SM, Anzalone AJ, Eimerbrink MJ, et al. Probiotic Streptococcus thermophilus FP4 and Bifidobacterium breve BR03 supplementation attenuates performance and range-of-motion decrements following muscle damaging exercise. Nutrients. 2016;8(10):1–11. Available from:

Appethyl (Activated Nutrients Professional Range – Slim Down)

Montelius C, Erlandsson D, Vitija E, Stenblom EL, Egecioglu E, Erlanson-Albertsson C. Body weight loss, reduced urge for palatable food and increased release of GLP-1 through daily supplementation with green-plant membranes for three months in overweight women. Appetite [Internet]. 2014;81:295–304. Available from:

Stenblom EL, Egecioglu E, Landin-Olsson M, Erlanson-Albertsson C. Consumption of thylakoid-rich spinach extract reduces hunger, increases satiety and reduces cravings for palatable food in overweight women. Appetite [Internet]. 2015;91:209–19. Available from:


  • Blair Norfolk

    Managing Director

    Biome has a highly credentialed and experienced team led by the Managing Director and CEO Blair Norfolk. Blair has over 10 years’ experience in the pharmaceutical and natural medicine industries. As the founding Managing Director of Biome, Blair has successfully secured the unique products underpinning the company, facilitated clinical trials, established distribution, recruited staff and led the IPO process. It is Blair’s passion, drive and entrepreneurial management style that has established Biome to where it is today.

    Blair is a member of the Australian Institute of Company Directors (AICD) and holds a Master of Advanced Marketing from Monash University and a Bachelor of Commerce – Marketing/Accounting from Deakin University.

  • Ilario Faenza


    Ilario has over 30 years of corporate and director experience in Australia, United States, New Zealand and the United Kingdom. He has built and worked with more than 30 companies over the past 30 years including roles as Chief Operating Officer, Managing Director, Executive Director, Advisor, Executive Director, Executive Chairman, Non-Executive Director and Non-Executive Chairman. Ilario has also been a Director of multiple ASX-listed companies over the past 22 years. He has chaired the audit and risk committee and served on the remuneration committee for ASX listed Eftel Limited in addition to being a member of the audit and risk committee and Remuneration committee for ASX Listed Tel.Pacific Limited. Ilario also managed the Scheme of Arrangement for People Telecom Limited in relation to its merger with M2 Group Limited.

  • Dominique Fisher

    Non-Executive Director

    Dominique couples her experience in tech driven businesses with a strong focus on risk mitigation and financial management. She has worked in a range of sectors in both executive and non-executive roles including: insurance, procurement, publishing, media, wholesale manufacturing, retail, biotech, e-commerce, business mobility software, performing arts, location data, digital and internet services, transport and logistics, artificial intelligence, property development, telecommunications, edtech, postal services, advertising and professional services.

    Dominique has combined her executive career with an extensive non-executive career, having served on four ASX listed companies and has been involved in two IPOs (IAG and TGO); numerous private companies including Integrity Life Group, various government and private advisory boards at both state and federal for both major political parties, Geoscape Australia and government agencies including the Sydney Opera House, Australia Post and the Australian Council for the Arts.

  • Douglas Loh

    Chief Financial Officer

    Douglas holds a Bachelor of Economics (Hons) from the University of Monash, is a CPA and a Member of the Australian Institute of Company Directors. He has over 30 years of advisory, company management, investment management, and market research experience with a focus on smaller companies. He is a founding member of Acorn Capital, Australia’s first boutique investment manager specialising in the Australia microcap sector.

  • Dr Jaroslav Boublik

    Chief Science Officer

    Dr.  Boublik has conducted research at Prince Henry’s Hospital Medical Research Centre, The Shanghai Institute of Biochemistry in China, The Salk Institute, La Jolla USA, and the Baker Medical Research Institute in Melbourne, Australia. He previously held a Fulbright Postdoctoral Fellowship, a Neil Hamilton Fairley Postdoctoral Fellowship, and was an R. Douglas Wright Fellow. Dr Boublik has over 30 peer reviewed and invited articles in scientific journals and is an inventor on four patents.

    Dr. Boublik is a consultant to the nutrition R&D sector and has been a board member of several companies in nutritional medicine and complementary medical research and development. In the USA between 2008 and 2017 he developed dozens of new products for client companies in nutrition, sports performance, hydration and functional foods. He has also served three years as Lead OHSE Auditor for the CSIRO – Australia’s peak scientific and industrial research organization.

    Dr. Boublik is an Associate Member, Australian College for Nutritional and Environmental Medicine, member of the Royal Australian Chemical Institute, and a Chartered Chemist. He has a Ph.D. in Medicine and a B.Sc. (Hons) Chemistry (Monash University) and is a member of the Monash University and Fulbright Alumni Associations.

  • Rebecca Edwards

    Education Director

    Rebecca is a speaker, writer, educator, and qualified naturopath (BA, Adv Dip Nat, Dip Nut). She has more than fifteen years of experience educating on all aspects of complementary and integrative health, delivering naturopathic education to healthcare practitioners around the world. Rebecca has lectured to undergraduate students in Australia, the UK, and the US, and is a passionate and inspiring speaker.

    After being inspired by a naturopath, she decided to follow a more holistic pathway undertaking a degree in English and History before qualifying as a naturopath. Rebecca has always been interested in people and learning, being fascinated by the connection between human health and the natural world. Rebecca leads the national team of educators of Biome to provide high quality, evidence-based education on the world of the microbiome.


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