ABN Newswire http://www.abnnewswire.net Fri, 24 May 2013 19:33:00 newsroom@abnnewswire.net newsroom@abnnewswire.net 60 <![CDATA[ Breville Goes Green with Cardia (ASX:CNN) Compostable Juicer Bags for its Juicer Products ]]> en74863 Y http://www.abnnewswire.net/press/en/74863/ Wed, 20 Mar 2013 15:12:59 GMT Cardia (ASX:CNN) is pleased to announce that Breville Group Limited, a global designer and manufacturer of small kitchen appliances will purchase and market Cardia's compostable "juicer bags" as part of its Juicer accessory offering to consumers.

The agreement is expected to generate strong sales for Cardia and the launch follows on from Cardia's ASX announcement made on the 21st of August 2012.

Breville is a leader in juicer sales and has launched the compostable "juicer bags" in packs of 30, for sale where you can buy Breville Juicers in the USA and can also be purchased online at www.brevilleusa.com.

Breville's launch in the USA has implemented the 100% compostable "the Clean & Green(TM)" juicer pulp bag, with its Juice Fountain(R) range of juice extractors to encourage environmentally-friendly waste disposal practices.

Breville's USA Category Manager for Food Prep, Michelle Smith-Aiken said: "We recognized that consumers are always looking for even faster clean-up when they're using a juicer and that most were using their produce bags in their pulp bins to help with the clean up. We saw this as an unhealthy disposal of plastic and wanted to come up with a more environmentally responsible way. The Clean & Green(TM) juicer bags are the solution for a faster clean up while providing a fully compostable - biodegradable option to dispose of the pulp.

Cardia's Chairman Mr Pat Volpe said: "Partnering with a global consumer products company such as Breville on this project and the successful launch by Breville to its customer base in the USA, is an endorsement and credit to Breville as they lead the way to environmental friendly practices. It also demonstrates Cardia's versatile Bioplastics technologies as Cardia wins the confidence of a world class designer and maker of kitchen appliances"

This is an important achievement for Cardia and adds another leading global brand to the Company's customer portfolio. This also confirms Cardia's view of a global shift with major brand owners and packaging companies wanting to transition from conventional oil based plastic packaging products to bioplastics that have and environmental benefit and a lower carbon foot print.

The global shift towards green economies is gaining significant traction as individuals, companies and Governments are looking at ways to reduce their impact on the environment and looking at new technologies that can reduce their carbon footprint.

Cardia is well-placed to capitalise on this trend supported with a patented portfolio comprising a number of renewable resin technologies,

Mr Pat Volpe
Cardia Bioplastics
TEL: +61398307676
EMAIL: patv@cardia.com.au

]]> newsroom@abnnewswire.net <![CDATA[ Custom Bioplastics (U.S.A) To Market the New "Bio-buddy(TM) Dog Waste Bag" Using Cardia's (ASX:CNN) Unique Biohybrid(TM) Technology. ]]> en74853 Y http://www.abnnewswire.net/press/en/74853/ Tue, 19 Mar 2013 11:05:40 GMT Cardia Bioplastics Limited (ASX:CNN) and USA-based Custom Bioplastics LLC have announced the launch by Custom Bioplastics of the new "Bio-buddy(TM) dog waste bag" developed using Cardia's new and unique Biohybrid(TM) technology.

The new "Bio-buddy(TM) dog waste bag" is now being manufactured and marketed into the USA and online by Custom Bioplastics, an established USA manufacturer of blown and cast film plastic packaging located in the Pacific Northwest. The "Bio-buddy(TM) dog waste bag" is offered as a new lower carbon footprint alternative to conventional oil-based dog waste bags The number of dog waste bags used in the U.S.A runs into the hundreds of millions annually.

Governments and pet owners are looking for a sustainable and renewable alternative to the conventional dog waste bag that is now available with the "Bio-buddy(TM) dog waste bag". The photo shows the new "Bio-buddy dog waste bags" developed using Cardia unique Biohybrid(TM) technology.

The new "Bio-buddy dog waste bags" has been developed using both Cardia unique Biohybrid(TM) technology that requires less oil hence has a lower carbon footprint. Custom Bioplastics also use recycled plastics in the manufacturing process.

Custom Bioplastics Managing Director, Mr Dick Mathes, said "their new Biohybrid(TM) Bio-buddy dog waste bag is made with a combination of recycled resin and Cardia's Biohybrid(TM) technology.

Bio-buddy's Biohybrid(TM) dog waste bags allow for plant starch to be combined with recycled resin.

The plant starch lessens the total carbon footprint of the bag along with creating a bag that is soft and silky to the touch. This introduction is result of a desire of Custom Bioplastics to provide a dog waste bag that follows the newly issued FTC Green Guidelines and laws being enacted in California.

Mr Mathes emphasised: Custom Bioplastic strategy on responsible packaging. "We are excited to work with Cardia Bioplastics. Our packaging products made from their Biohybrid(TM) resins will form an integral part of our responsible plastic bag and film offering," he said.

Cardia's Chairman Mr Pat Volpe said: "The product has been developed with Custom Bioplastics to meet the growing demands for a sustainable pet waste bag with a lower carbon footprint, driven by consumer, brand owners, government and municipals."

"The Bio-buddy dog waste bag demonstrates the latest in sustainable technology and again confirms the diverse application of Cardia's Biohybrid(TM) proprietary technology. Cardia's main advantage besides the soft touch is that we deliver a product with a lower carbon footprint using renewable and sustainable resources - in line with the recent growing global trend."

"The "Bio-buddy dog waste bag" is a positive example of an application that now meets these requirements and is a great achievement by both companies." Mr Volpe also said.

For Custom Bioplastics, this is an endorsement of the company's commitment to providing its customers with the option to purchase innovative plastic film products with lower carbon footprint.

The global shift towards green economies is gaining significant traction as individuals, companies and Governments are looking at ways to reduce their impact on the environment and looking at new technologies that can reduce their carbon footprint.

Cardia is well-placed to capitalise on this trend supported with a patented portfolio comprising a number of renewable resin technologies.

Dick Mathes
Custom Bioplastics
360-757-8880
dick@custombioplastics.com

Mr Pat Volpe
Cardia Bioplastics
+61398307676
patv@cardia.com.au

]]> newsroom@abnnewswire.net <![CDATA[ XY LLC Awarded $8.5M Judgment Against Former Licensee ]]> en71908 Y http://www.abnnewswire.net/press/en/71908/ Wed, 7 Mar 2012 11:43:25 GMT XY LLC (formerly XY Inc.), an innovative leader in the livestock reproduction industry and primary promoter for commercialization of sperm sexing technology in animals, was just awarded an US$8.5 million dollar judgment against one of its former licensees, JingJing Genetics Inc. of Canada and JingJing's principals Jesse Jia-Bei Zhu, Selen Cui Feng Zhou and Jin Tang.

As a licensee, JingJing Genetics Inc. (formerly IND Lifetech Inc.) was granted the right to use XY's sperm sorting technology to manufacture and sell bovine sexed semen and sexed embryos, while maintaining strict control over XY confidential information. Following a long trial (XY LLC v. International Newtech Development, case no. S076862), the British Columbia Supreme Court found that JingJing violated its contract obligations by multiple breaches of the license agreement and found JingJing's principals liable for civil fraud and conspiracy to cause economic injury. The Court awarded XY $8.5 million dollars in damages, additional special costs, and a permanent injunction against JingJing and its principals to cease using any of XY's proprietary research and technology, including but not limited to XY's information and techniques relating to the production and use of cattle embryos made from sexed semen. XY was represented by Chris Wilson and Geoff Bowman of Bull Housser based in Vancouver, Canada.

XY has made its mark in the reproductive world by commercializing efficient methods and equipment for sorting sperm into X- (female) and Y- (male) chromosome bearing cell populations. XY's sperm sorting technology has transformed the world of beef and dairy cattle with efficient gender-selective breeding. The technology has been used successfully in numerous species with over 90% purity. XY licenses out its sperm sorting technology to breeders worldwide, with major markets in North and South America, Europe, Asia, Australia, and New Zealand.

The information in this press release is historical in nature and is current only to the date indicated in the press release. To the extent permitted by law, XY LLC and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission.

Sheau Min See
Director of Licensing, XY LLC
1108 North Lamay, Fort Collins
Colorado 80524
T: +970-493-3113
E: info@xy-llc.com
http://www.xyinc.com

]]> newsroom@abnnewswire.net <![CDATA[ Asian Activities Report for January 5, 2012: Titans (HKG:2188) Won Outstanding Contribution Enterprise Award 2011 in Zhuhai, China ]]> en71211 Y http://www.abnnewswire.net/press/en/71211/ Thu, 5 Jan 2012 13:00:57 GMT China Titans Energy Technology Group (HKG:2188) says that its subsidiary Zhuhai Titans Automatic Technology has received an Outstanding Contribution Enterprise Award from the local government of Hengqin New Area, Zhuhai City, China, for its contribution to the economic and social development of the local community in 2011. Focused on power electronics, Titans Group achieved several key milestones during 2011. Its Electric Vehicle Charging Project was successfully listed as a project under China's National High-Tech Research and Development Program in November 2011, indicating the Group's leading position in the development of electric vehicle charging technology.

CK Life Sciences (HKG:0775) has signed an agreement to acquire Australia-based Peaty Trading Group and its related assets for approximately A$31 million. Peaty Trading Group is engaged in the production and sales of plant protection, specialty fertilisers, and pest control products. This acquisition is the latest step in CK Life Sciences' business expansion into the Australian health and agriculture sector, following its A$10.6 million acquisition of Qualco West Vineyard in the Riverland Wine Region, Australia's largest wine grape producing region in 2011.

Marubeni Corporation (TYO:8002) says that its subsidiary Marubeni Access is now providing international IP-VPN service, named VECTANT Global IP-VPN to Japanese companies' overseas subsidiaries. The service, supported by Asia's largest independent communication service provider Pacnet, covers major cities around the world including those in China. It offers an one-stop support through overseas base network with high quality international IP-VPN service.

Toray Industries, Inc. (TYO:3402) has restructured its research and development bases in Shanghai and Nantong, China. It has renamed its Shanghai base Toray Advanced Materials Research Laboratories (China), which will focus more on non-fabric products, whilst its Nantong-based Toray Fibers & Textiles Research Laboratories (China) will continue to specialise in textile products.

Qiubei Fu
Asia Business News
Tel: +61-2-9247-4344
http://www.abnnewswire.net

]]> newsroom@abnnewswire.net <![CDATA[ Asian Activities Report for July 27, 2011: South American Iron and Steel Corporation Limited (ASX:SAY) to Acquire an Exploration Concession in China ]]> en68633 Y http://www.abnnewswire.net/press/en/68633/ Wed, 27 July 2011 12:24:43 GMT South American Iron & Steel Corporation Limited (ASX:SAY) has amended its agreement to acquire an 11.25% interest in an exploration Concession in Weishan County, Yunnan, China. The transaction involves the purchase of 15% of the shares in a Hong Kong company, Ample Success Investment Limited whose sole asset is a 75% interest in the Concession. Under the amended Agreement, SAY shall have right to manage the Concession when it acquires 15% of Ample. The Concession hosts gold, copper, lead-zinc, iron and antimony mineralisation.

Rex Minerals Limited (ASX:RXM) has completed a conceptual study of its 100% owned Hillside Project in South Australia. The conceptual study results confirm the potential for a large-scale, long-life project with production increasing to over 70,000t of copper per annum with additional significant iron ore and gold credits.

Aquila Resources Limited (ASX:AQA) said today that its wholly owned subsidiary IP Coal Pty Ltd and Vale Australia (IP) Pty Ltd have reached an agreement which effectively puts aside the difference of opinion between them regarding the ability to make separate shipments of coal from Isaac Plains Coal Mine. Normal shipments of coal will now resume.

Regal Resources Limited (ASX:RER) has appointed Stanford University in California to conduct Phase Two Proof of Concept Testing of its UCTL technology. Samples of USA and Australian coals, including samples from Regal's Oak Park test site, will be trialed during Phase Two. UCTL is a novel patent pending technology which aims to convert low rank brown coal / lignite in-situ into liquid hydrocarbons that can be refined into marketable oil products.

India's largest agrochemical company United Phosphorus Limited (BOM:512070) has acquired a 51% stake in DVA Agro Do Brasil, a Brazilian company engaged in the production, marketing, selling and distribution of crop protection products and specialties in the Brazilian agrochemicals market. This acquisition will give United Phosphorus access to a larger addressable market in Brazil.

Asia Business News
Sydney Tel: +61-2-9247-4344
Tokyo Tel: +81-3-6868-3802
http://www.abnnewswire.net

]]> newsroom@abnnewswire.net <![CDATA[ China Bio-Agriculture Industry Summit 2011 ]]> en64857 Y http://www.abnnewswire.net/press/en/64857/ Tue, 21 Dec 2010 11:34:53 GMT China Bio-Agriculture Industry Summit 2011 will be convened in Shanghai China on February 24-25, 2011. It is committed to providing a comprehensive picture of policy support, market trends, multi-national cooperation in R&D and technical innovations and investment climate of the industry.

The premier event will be gathering 200+ top professionals across bio-agriculture community including policy makers from regulators, leading practitioners from research institutions and associations as well as decision makers from agricultural seed providers, crop protection product producers, fertilizer suppliers, technical solution providers, equipment manufacturers, service providers, investors, consultants, distributors, food and healthcare product processors, etc. It is China's premier meet-and-greet occasion for bio-agriculture industry.

This time, the conference will highlight the status quo, market outlook and policy guidance of China's bio-agriculture industry, prospects for international cooperation in research & development, production and commercialization, agricultural bio-tech innovations, a new agri-economic future with untapped market potential in bio-agriculture development and China's bio-agriculture investment market outlook.

Why you can't miss out?

- Keeping abreast of the policy updates and business intelligence

- Gaining in-depth insights into the business model of cooperation with Chinese counterparts

- Tapping the commercial potential of GM crops and bio-based crop protection chemicals

- Learning the latest innovations to grow agricultural bio-technology

- Looking for new investment in your company and projects

- Forging new relationships with industry majors through this premier

- meet-and-greet occasion for global bio-agricultural fraternities

China Bio-Agriculture Industry Summit 2011 is a leading industry gathering for decision makers to acquire exclusive information, business intelligence and contacts from China's Bio-Agriculture market.

Event Time: February 24 - 25, 2011
Venue: Shanghai, China
Organizers: Shanghai Technology Transfer & Exchange (STTE)
World China Network Association
IGVision International Corporation Shanghai
Website: http://www.bio-agriculture.net

Some of the attending companies include:
- Shandong Denghai Seeds Co., Ltd (SHE:002041)
- Monsanton Company (NYSE:MON)
- Yuan Longping High-Tech Agriculture Co., Ltd (SHE:000998)
- Syngenta Bio-Technology (China) Co., Ltd
- KWS SAAT AG (ETR:KWS)

To view The China Bio-Agriculture Industry Summit 2011 brochure, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/64857-China-Bio-Agriculture-Industry-Summit-2011-Brochure.pdf

Registration or Sponsorship
Mr. Martin Liu
Tel: +86-21-5180-9515
Email: martinl@igvision.com

Media partnership
Ms. Sabrina Yan
Tel: +86-21-5161-5368
Email: sabrina.yan@igvision.com
http://www.igvision.com

]]> newsroom@abnnewswire.net <![CDATA[ Asian Markets Overview of February 25 ]]> en62354 Y http://www.abnnewswire.net/press/en/62354/ Thu, 25 Feb 2010 13:30:31 GMT Overnight Wall Street snapped a two-day losing streak as banking shares were higher after Federal Reserve Chairman Ben Bernanke said interest rates will remain low for a long time, soothing investors' fears over an imminent policy tightening.

Asian markets mostly dropped on Wednesday. Resources shares across the region were hit by falling metals prices. Japan's Nikkei 225 fell 1.5 per cent, South Korea's Kospi shed 1.0 per cent and Hong Kong's Hang Seng Index lost 0.8 per cent. The markets also weighed down by U.S. consumer confidence and German business sentiment. But China's Shanghai Composite rebounded 1.3 per cent as monetary tightening worries eased.

Company News

Swiss biotech Basilea Pharmaceutica AG (SWF:BSLN) struck a licensing deal with Japan's Astellas Pharma Inc. (TYO: 4503). Basilea will receive an upfront payment of 75 million Swiss francs to help ease funding concerns. Basilea may also receive up to 478 million francs in milestones and will also be eligible for double-digit royalties on sales of the medicine, which is currently in late-stage trials. Astellas is granted an exclusive right to commercialize isavuconazole whereas Basilea retains an option to co-promote the product in the United States, Canada, major European countries and China.

Sumitomo Trust & Banking Co. (TYO:8403) will next month acquire a 19.99 per cent stake in Chinese trust bank Nanjing Trust Investment Co., a wholly-owned subsidiary of Nanjing Zijin Investment Co. The Japanese trust bank will buy the stake for an estimated 119.94 million yuan. Sumitomo Trust, becoming the first Japanese bank to participate the management of a Chinese financial institution, will offer its business know-how to the Chinese trust business firm and help clients including Japanese firms operating in China raise and manage funds.

South Korean steelmaker POSCO (SEO:005490) said it had submitted a letter of intent (LOI) ahead of a deadline to buy up to a 68 percent stake in Daewoo International (SEO:047050), a trading and resources development firm. Retail-focused Lotte Group said Thursday it also has submitted a LOI to buy a controlling stake in Daewoo International. Daewoo is considered one of the most attractive acquisition targets this year as it focuses on development of buoyant oil, gas and resources, while its trading business should benefit from a global economic recovery.

Taiwan government-owned refiner CPC Corp. is planning to set up a US$300 million chemicals joint venture with Taiwanese synthetic rubber maker TSRC Corp. (TPE:2103). The joint venture will also have a third, as yet undecided partner, but CPC will be the largest shareholder, said a CPC senior executive. The venture will start production in the second or third quarter of 2013.

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net

]]> newsroom@abnnewswire.net <![CDATA[ Mesoblast Limited (ASX:MSB) Proprietary Stem Cells Successfully Repair/Regenerate Damaged Intervertebral Disc Cartilage ]]> en61409 Y http://www.abnnewswire.net/press/en/61409/ Thu, 10 Sept 2009 12:10:20 GMT Australia's regenerative medicine company, Mesoblast Limited (ASX:MSB)(PINK:MBLTY), today announced highly successful preclinical trial results of its adult stem cells in the treatment of degenerative intervertebral disc disease, the leading cause of low back pain.

A single low-dose injection of Mesoblast's allogeneic or "off-the-shelf' adult stem cells into severely damaged intervertebral discs resulted in dramatic reversal of the degenerative process, regrowth of disc cartilage, and sustained normalization of disc pathology, anatomy and function. The results of a placebo-controlled, randomised trial of Mesoblast's cells for the treatment of degenerative disc disease in 36 sheep is being presented and highlighted at the World Congress on Osteoarthritis, OsteoArthritis Research Society International (OARSI), being held in Montreal, Canada from 10-12 September.

Six months after a single direct intra-discal injection of Mesoblast's cells, discs that were initially severely damaged and degenerated were found to have become indistinguishable from healthy non-degenerated discs in their histopathology, cartilage content, height, and structure. In contrast, severely degenerated discs which served as controls and were either not injected or were injected with hyaluronic acid, continued to demonstrate significantly reduced disc height (p<0.01), disordered disc structure (p<0.01), disrupted histopathology (p<0.01), and reduced cartilage content (p<0.05), compared with healthy non-degenerated discs over six months of follow-up. The results of disc X-Rays, Magnetic Resonance Imaging (MRIs), and histopathology were reviewed by three blinded independent experts.

"These outstanding results indicate that we have been successful in developing a unique biologic disc repair product," Mesoblast's Executive Director, Professor Silviu Itescu, said.

"Mesoblast's cells may provide a novel therapeutic approach to reverse disc degeneration and address the number one cause of chronic low back pain," he said.

Chronic low back pain due to degenerative disc disease affects an estimated 4 million people in the United States alone. While short-term benefits may be obtained by bed rest, analgesics, physiotherapy, and steroids, many patients progress to unremitting, severe and debilitating pain due to ongoing progression of disc degeneration. For these patients, the only option is major back surgery involving artificial disc replacement or spinal fusion.

"A simple, non-invasive injection to reverse the degenerative process, and regenerate the disc back to its healthy state, would represent a major product breakthrough into an unmet market segment that is conservatively estimated at more than $US 2 billion per year," Professor Itescu said.

"We intend to proceed rapidly with a clinical program aimed at commercial registration of our biologic disc repair product. We have sufficient funds in place to complete a Phase 2 trial, and this will progress in parallel with our other ongoing clinical programs," he added.

Julie Meldrum
Corporate Communications Director
Mesoblast Limited
Tel: +61-3-9639-6036
Mob: +61-419-228-128
Email: julie.meldrum@mesoblast.com
www.mesoblast.com

]]> newsroom@abnnewswire.net <![CDATA[ Stirling Products Limited (ASX:STI) Gets Approval For TB and HIV Treatment "Immunoxel" In South Africa ]]> en60776 Y http://www.abnnewswire.net/press/en/60776/ Tue, 26 May 2009 11:53:26 GMT Australian healthcare company Stirling Products Limited (ASX:STI) is pleased to announce another milestone in the expansion of the licensed (pending joint venture approval) botanical products to markets outside of Ukraine. Immunoxel (Dzherelo) has been granted approval in South Africa. This approval will allow immediate sales of the phytoconcentrate as an immune adjuvant for TB and HIV treatment.

Immunoxel (as Dzherelo) is now classified under the complementary medicines category by the Medicine Control Council (MCC) of the Department of Health of the Republic of South Africa.

Negotiations will now proceed with potential partners to initiate product marketing throughout South Africa.

Earlier this year Immunoxel was approved in its first Asian market country, Mongolia, where product sales commenced last month.

Immunoxel has been shown to be safe and very effective in a variety of clinical conditions including but not limited to seasonal flu, influenza, acute respiratory infections, TB, hepatitis, HIV, autoimmune conditions, and malignancies.

Drug-resistant TB is on the rise throughout the world and is most frequently seen in the countries of the former Soviet Union, Asia, throughout the African continent and especially South Africa.

Conventional TB chemotherapy success rates are significantly lower in patients with Multi Drug Resistant (MDR) TB and Extensively Drug Resistant (XDR) TB. Recent US Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO) surveys indicate that in the worst-affected countries, 10% of MDR-TB cases were XDR-TB. Current treatment of drug resistant TB can take up to 18-24 months. The disease is difficult and expensive to treat and outcomes are frequently poor. No significant new class of anti-TB drugs has been introduced in past 40 years and existing drugs are practically useless against advanced drugresistant TB.

Mr. Volodymyr Pylypchuk, Director of Ekomed the Company's Licensor, commented: "South Africa is burdened by one of the worst tuberculosis and HIV epidemics in the world. Our commercial partner Zodiac Capital has been working diligently and we are very excited to announce that that their effort paid off. Our Immunoxel works through completely novel immune mechanism and to the best of our knowledge is the only and most effective adjuvant to TB and AIDS drugs. The approach that we have developed drastically shortens treatment duration and can save countless lives right now. Our clinical studies conducted in Ukraine during last ten years have shown convincingly that we can offer reliable, cost-effective solutions to the global TB and HIV crisis."

Immunoxel is one of 26 phytopharmaceutical (botanical) products being commercialised globally under a Zodiac Capital Limited License Agreement that, subject to shareholder approval at a meeting scheduled for 29 May 2009, the Company has agreed to joint venture with Zodiac Capital Limited as has previously been advised to the market.

Peter Boonen
Managing Director
Stirling Products Limited
Ph: +61 2 9299 9270
E: peter.boonen@stirlingproducts.net

]]> newsroom@abnnewswire.net <![CDATA[ Stirling Products (ASX:STI) Consolidates Licensing Deals ]]> en59194 Y http://www.abnnewswire.net/press/en/59194/ Mon, 10 Nov 2008 13:29:32 GMT
Highlights:

- Stirling closes deal with Cocky Smart Pty Ltd for novel insecticide.

- Stirling sells back its 25% holding in Cocky Smart.

- Stirling terminates exclusivity for shrimp opportunity with ProVale(TM).

- Deal replaced with several new regional opportunities.

The company signed a Term Sheet with Cocky Smart in June (ASX June 16, 2008) for the international rights to its novel parasiticide for the prevention of flies and ticks primarily with applications in livestock.

Under the terms of the Agreement, Stirling was granted unrestricted license to develop and commercialise the product for all geographical jurisdictions and was to acquire 25% of the company's net profits through the purchase of 25% of the shareholding in the Company.

"While we still believe that the product has enormous potential, due diligence by Stirling has resulted in the conclusion that the terms of the Agreement cannot be satisfied due to problems associated with the transition of the intellectual property and an inability to satisfy the conditions precedent for complete execution of the Agreement. As a result we found ourselves in the situation where we could not sustain the resource input that was required", indicated CEO & Managing Director, Dr Calvin London.

Stirling has now sold back its shareholding for the initial value paid and retained the tradename associated with the product - Jonotol(TM). The product remains in development and is not being sold at the present time.

"We have retained the tradename and should the opportunity present at some stage in the future, we would be happy to reconsider the technology, if and when the product becomes more advanced and the commercial issues are resolved.

Stirling has also terminated the exclusivity period that it had with a large animal pharma company that was considering the licensing and distribution of Stirling's beta glucan product ProVale(TM) in shrimp. ProVale(TM) had previously been shown to increase production in shrimp ponds by more than 36% and decrease the disease mortality of shrimp by more than 28%. Additional trials conducted independently confirmed the superior performance of ProVale in South East Asian shrimp ponds; for which Stirling received a milestone payment in exchange for a period of exclusivity to negotiate a distribution agreement.

"As often happens, companies on more critical analysis, find that they do not have the right portfolio fit and/or the right resource backing to make the opportunity work and in this case we could not reach acceptable commercial terms. When the exclusivity period for negotiation expired we did not renew it", commented Dr London. "We have now gone back to other parties that expressed significant interest in licensing and/or distribution opportunities for this application and have found that there is a still great deal of interest in this application. We are considering several opportunities which are regionally based for non-exclusive distribution agreements, rather than the original global agreement".

Shrimp farming is one of the fastest growing sectors of aquaculture, particularly in South East Asia. As an example, the US alone imports over 550 million pounds of shrimp annually at a value of US$3.9 billion. Thailand exports 34% of this total figure (US$1.3 billion). South American countries such as Chile and Mexico are also recognised as prominent shrimp markets.

ProVale(TM) stimulates the non-specific immune system of shrimp (which only have a very primitive immune system and no defined antibody responses). As such, it stimulates protection against both bacteria and viruses compared to antibiotics which have no effect on viral diseases in aquaculture applications.

Stirling Products Limited:
Calvin London
TEL: +61-400-204-616

]]> newsroom@abnnewswire.net