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Stirling Products North America Product Validation

US - Stirling Products' North American subsidiary, Stirling Products North America Inc, has successfully completed product validation trials in shrimp with an animal health company for applications for its immunobiotic ProVale.

STI-NA entered into an agreement with one of the top five animal pharma companies, which has withheld its name for confidentiality reasons, in July 2007 to conduct a validation trial in challenged shrimp that would confirm the performance of ProVale prior to negotiating subsequent commercial arrangements.

"ProVale has previously been shown to increase the production in shrimp ponds by more than 36 per cent and decrease the mortality of shrimp due to disease by more than 28 per cent," said Mr Shane Patelakis, President, STI-NA. "The latest trials confirm the ability of ProVal to significantly improve production yield and survival of commercially raised shrimp even under challenged conditions," he added.

As part of the trial agreement, established between the two companies, there was an option for a period of exclusivity of three months beyond the study period, based on trial success and payment of the milestone. The animal pharma company has now exercised this option, triggering the milestone payment. The animal health company will conduct its required due diligence while both parties negotiate towards an appropriate agreement for the world-wide rights to formulate, distribute and/or commercialise ProVale for shrimp.

"We are very excited about this opportunity," said Dr Calvin London, CEO & Managing Director of Stirling Products Limited.

The trial conducted in South East Asia commenced in the last quarter of 2007 and was conducted completely independent of the company. The findings clearly support the efficacy of ProVale in improving survivability and overall yield of shrimp under challenged conditions. ProVale technology has the ability to enhance the performance of commercially farmed shrimp that translates into significant improvements in efficiencies for shrimp producers in disease challenged regions such as South East Asia.

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 per cent of this total figure ($1.3 billion).