Perth, Nov 12, 2007 (ABN Newswire) - 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(tm) 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(tm) 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(tm) initially limited to specific sales regions in the United States.
"The benefits of ProVale(tm) 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(tm) 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(tm) 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(tm) as a supplement are expected to generate revenue flow through to Stirling Products in the first quarter of 2008.
About ProVale(tm):
ProVale(tm) is a highly purified, safe and natural immune-stimulating bioactive extract for use as a livestock or pet animal feed supplement. This unique "immunobiotic" has the benefit of boosting the immune system against various bacterial and viral diseases of animals. The product already has sales for poultry and swine in North America with further sales opportunities expected in South East Asia.
For more information visit PBI's website: www.progressivebioactives.com
The Distribution and Supply Agreement allows the new distributor (name withheld as per confidentiality agreement) to include ProVale(tm) 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(tm) 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(tm) initially limited to specific sales regions in the United States.
"The benefits of ProVale(tm) 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(tm) 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(tm) 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(tm) as a supplement are expected to generate revenue flow through to Stirling Products in the first quarter of 2008.
About ProVale(tm):
ProVale(tm) is a highly purified, safe and natural immune-stimulating bioactive extract for use as a livestock or pet animal feed supplement. This unique "immunobiotic" has the benefit of boosting the immune system against various bacterial and viral diseases of animals. The product already has sales for poultry and swine in North America with further sales opportunities expected in South East Asia.
For more information visit PBI's website: www.progressivebioactives.com
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About Stirling Products Limited
Stirling Products is developing patented animal growth agents that increase meat production, therefore improving the production efficiency of livestock animals, while decreasing fat accumulation for the benefit of consumers. The Stirling growth agents are under development for swine, poultry, cattle and sheep for global markets and are being positioned to take a major role in reducing the global use of antibiotics and steroid hormones in livestock. Stirling is also developing veterinary medications for heaves in horses through its joint venture in Europe (Pulmovet ApS, www.pulmovet.com) and an obesity treatment in companion animals.
Stirling Products recently acquired a Canadian company Progressive BioActives Incorporated (PBI) under its North American subsidiary, Stirling Products NA Inc. PBI is part of the Bioscience cluster established on located Prince Edward Island, Canada. PBI's lead product ProVale, is the latest high purity beta glucan extract that has been designed as an alternative tool for sustainable livestock management in face of increasing viral disease challenges where antibiotics have no or limited application. ProVale is available for targeted applications in swine, poultry and farmed aquaculture with a future focus on further developing applications for companion animals (e.g. horses, dogs, cats and reptiles).
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