London-listed polymer modification and drug delivery company Graft Polymer (UK) PLC has inked a major new distribution agreement with leading US veterinary products firm, Inter-Technologies Inc.
The deal reflects Graft Polymer's expansion strategy, aiming to penetrate the veterinary food supplements market in the US using Inter-Technologies' well-established network of five operating subsidiaries.
Graft Polymer's GraftBio SNEDDS (self-nano emulsifying drug delivery system) products, which leverage the company's patented micelle technology, provide a unique proposition in the US$2bn market.
Inter-Technologies, known for its PetMark brand that promotes the health of pedigree Siberian 'Neva Masquerade' cats and kittens, initially approached Graft Polymer with concerns about the feline coronavirus outbreak.
Reports of cat deaths due to the virus and avian flu raised questions about potential connections with humans and increased risks.
GraftBio emerged as a compelling solution to combat these health issues.
The first batch of GraftBio products is set to be dispatched to the US this week, with the agreement reflecting the growing opportunities in the high-growth US veterinary sector.
Commenting on the agreement, Victor Bolduev, Graft Polymer's chief executive and chief technology officer, stated: "This is an important opportunity for the company and is evidence of our ability to forge strong partnerships with leading operators in new markets, opening up additional growth channels.
“We are excited by the potential for development within the US veterinary sector and are fully aligned with Inter-Technologies Inc. in playing a vital role in contributing to pet welfare thanks to our market-leading technology and unique products."
Yuri Altyev, chief executive of Inter-Technologies, commented: "We were attracted by Graft Polymer's high-quality solutions within the veterinary products space and look forward to working with them to optimal effect in the US market."