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Stirling Products Signs Term Sheet for Insecticide
AUSTRALIA - Stirling Products has signed an agreement in principle with the private Western Australian company Cocky Smart Pty Ltd for the Australian and international rights to its novel parasiticide for the prevention of flies and ticks primarily with applications in livestock.Under the terms of the agreement, Stirling has an unrestricted license for any geographical jurisdiction and acquires 25% of the company's net profits. Stirling will codevelop the product applications with Cocky Smart from jointly raised funds.
Managing Director of Cocky Smart, Mr John Chamberlain, said "Our treatment is environmentally friendly and has already been approved by the Biological Farmers of Australia, userfriendly and provides up to three months protection from a single midline application."
The product was first derived from the tail feather of a yellow crested cockatoo that was a farm pet residing in a shearing shed. Observations were made during shearing that there were no flies around the cockatoo in a shed otherwise full of sheep blowfly. Trials have now confirmed the efficacy and an international patent application has been filed.
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