June 12, 2008

Stirling completes trial on shrimp feed additive 
  
 

Stirling Products had announced that its wholly-owned North American subsidiary, Stirling Products North America Inc (STI-NA), has successfully completed product validation trials with a leading global animal pharma company for its proprietary immunobiotic ProVale.

STI-NA entered into an agreement with one of the top five animal pharma companies (name withheld for confidentiality reasons) in July 2007 to conduct a validation trial in challenged shrimp that would confirm the performance of ProVale.

"ProVale has previously been shown to increase the production in shrimp ponds by more than 36 percent and decrease the mortality of shrimp due to disease by more than 28 percent," indicated Shane Patelakis, President, STI-NA.

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 commercialize ProVale(TM) for shrimp.

Dr Calvin London, CEO & Managing Director of Stirling Products Limited said the company looks forward to progressing towards a formal sales and distribution agreement which would translate into significant revenue for the company.

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 in south-east Asia.