12/11/2007 - 16:19

Stirling signs distribution deal with US premix manufacturer

12/11/2007 - 16:19

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Perth-based biotechnology company Stirling Products Ltd has signed a deal with an American distributor to include their immune system-booster ProVale in their animal performance diet products, the company has announced.

Perth-based biotechnology company Stirling Products Ltd has signed a deal with an American distributor to include their immune system-booster ProVale in their animal performance diet products, the company has announced.

 

 

The full text of a company announcement is pasted below

  • Stirling signs distribution agreement with innovative North American premix company to distribute ProVale™
  • Agreement to generate sales revenue from market-ready product

Stirling Products (ASX:STI) advises that it has successfully signed a Letter of Intent (LOI) and finalised a Term Sheet with a leading and progressive USA nutritional feed premix manufacturer and distributor.

The Distribution and Supply Agreement allows the new distributor (name withheld as per confidentiality agreement) to include ProVale™ in a novel proprietary nutritional premix platform and sell it as part of their high end private label animal performance diets and premixes.

"Stirling Products North America (trading as Progressive BioActives, Inc) is delighted to have formalised an agreement with the distributor," said Mr Shane Patelakis, CEO of Progressive BioActives. "Our distribution partner currently manufactures and distributes a range of high quality nutritional feed mixes and the addition of ProVale™ to their portfolio will lead to significant revenue for both parties."

The terms of the agreement (which are confidential) cover exclusive sales and distribution of ProVale™ initially limited to specific sales regions in the United States.

"The benefits of ProVale™ in livestock, swine, poultry and other farmed animals as a disease and performance management tool, particular in swine and poultry, have been well documented by Progressive BioActives and we look forward to getting this exciting product into the hands of our customers," said a spokesman for the partner.

ProVale™ has been shown to be an effective alternative to growth promotion antibiotics in broilers for disease management, to maintain performance and has indications in improving shell quality in layers. In swine for example, ProVale™ has been shown to significantly enhance vaccine performance, antibody titres, number of piglets weaned and prevent performance lags normally associated with vaccination.

The first sales of ProVale™ as a supplement are expected to generate revenue flow through to Stirling Products in the first quarter of 2008.

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