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Aqua Bounty Signs Up with Sterling

by Ellen Hardy
4 February 2008, at 12:00am

MASSACHUSETTS - Biotech company Aqua Bounty Technologies Inc, has signed a Term sheet with Stirling Products North America for an exclusive option to distribute ProVale in the Chilean salmon market.

The immune stimulant is a environmentally friendly and highly bioactive form of the currently marketed beta glucan product used for disease management in fish.

Under the terms of the agreement, Aqua Bounty will manage field trials required for proof of efficacy and market approval of the product. The Company will test it as a replacement for antibiotics in the diets of farmed salmon. The trials are expected to begin shortly and are awaiting regulatory approval. They will last for two to three months, during which time, Aqua Bounty will work with Stirling Products to finalise an agreement for commercial distribution.

This strategic partnership will allow penetration of the Chilean salmon market - the second largest sector in the world. Farmed salmon is valued at over US$4.5 billion of which one third comes from Chile, and this amount is estimated to double in the next six years. The market for pharmaceuticals and immuno-stimulants is forecast to increase in line with market expansion. The initial market for ProValeā„¢ in Chile is expected to be more than US$3 million per year.

Feeding Development

Elliot Entis, Chief Executive Officer of Aqua Bounty is delighted to have signed the Stirling agreement. "Provaleā„¢ is a natural extension of our approach to limiting disease impacts in aquaculture without compromising environmental or human health and lessening reliance on antibiotics. It fits in well with our focus on building strong relationships with salmon farmers," he said.

Dr Calvin London, Chief Executive Officer and Managing Director of Stirling Products North America said that the opportunity with Aqua Bounty would provide additional revenue potential and also opportunities for future developments of specialised feeds and disease protection formulations for farmed fish.

Ellen Hardy