Stirling to establish Eurpoean JV with Danish group

Perth-based biotechnology company Stirling Products Ltd has signed a deal with Danish company Equine HealthCare ApS, to establish a joint venture to develop technology to treat heaves, an equine respiratory disease.

Under the agreement EHC, which specialises in the development of equine respiratory devices, will work with Stirling to provide a device/drug combination for which they hope to commence initial trials in the near future.

To be called Pulmovet ApS, the joint venture will raise operating capital in Europe to fund the initial regulatory trials required for registration there and in the United States. The new company will license-in technology from the venture partners under separate licencing agreements.

Stirling recently finalised a $1.3 million placement to US investor Indus Capital Partners LLC to fund the further development of R-salbutamol, the drug to be used in this venture, as a growth agent and in obesity applications.