Mountain Valley MD has agreed to a license its parasitic infection treatment Soluvec 1% to a private Ontario company that intends to use it for animal husbandry applications in Bangladesh.
The agreement allows the licensee to coordinate Soluvec 1% manufacturing and distribution of related Soluvec 1% products, both in injectable and food coating applications, within the country. Mountain Valley will receive a royalty percentage against net sales in the region.
Mountain Valley has worked closely with the licensee and its partners inside Bangladesh on previously disclosed animal pharmacokinetic trials conducted under the supervision of Bangladesh’s Ministry of Fisheries & Livestock, according to a statement. These covered both injectable Soluvec 1% solubilized Ivermectin technology and Soluvec 1% coated standard fish feed across farmed fish species.
Soluvec 1% was created by applying Mountain Valley’s Quicksol solubilization technology to the drug Ivermectin.
“We have come a long way from the first meeting where we asked ourselves how we could improve animal husbandry health outcomes to directly impact the GDP of key third-world countries,” Mountain Valley MD CEO Dennis Hancock said in a statement. “Moving forward to commercialize inside Bangladesh is exciting validation of our progress, while laying the foundation for expansion plans for other key markets.”
Elsewhere, Mountain Valley said it has initially filed for Quicksol patent protection in key markets for expansion outside of Bangladesh. In April alone, the company filed for protection in 12 additional markets outside of the US, including Canada, China, India, Mexico, Sri Lanka, Thailand, Philippines, Malaysia, Brazil, Peru, Argentina and Chile.
“Bangladesh has the third largest farmed fish output in the world, only trailing China and India,” Hancock said. “We view these positive results of the pharmacokinetic trials in the farmed fish space, in addition to the broad husbandry animal applications, as presenting a significant opportunity to support the fish production and positively impact global food supply.”
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel