TIDMGPL
RNS Number : 1619H
Graft Polymer (UK) PLC
26 July 2023
26 July 2023
Graft Polymer (UK) PLC
Cornerstone distribution agreement announced with leading US pet
product distributor Inter-Technologies. Inc leveraging compelling
opportunities in high growth US veterinary sector
Graft Polymer, (LSE:GPL) a special multi-sector chemicals
company offering modified and alloys polymers and bio-polymers
solutions for refiners, compounders and processors, announces the
signing of a distribution agreement with leading US veterinary
products company Inter-Technologies Inc. The agreement is a major
step forward in expanding the penetration of the Company's GraftBio
products into the Veterinary Food Supplements market in the USA,
through Inter-Technologies' five operating subsidiaries in that
market.
The agreement relates specifically to the distribution of its
GraftBio SNEDDS (self-nano emulsifying drug delivery system)
products leveraging their unique proposition using the company's
patented micelle technology.
-- First move in developing Graft Polymer's US market exposure
-- Evidence of market appetite for the Company's unique, patented technologies
-- Tapping into dynamic growth in the US veterinary market at a
time of high consumer spending on pet food and related products
-- Further progress in developing effective partnerships with market leading distributors
-- First batch to the USA dispatched this week
The US pet supplements market is on a robust growth trajectory,
with an estimated value of USD 2.02 billion in 2022 and is
projected to grow at a compound annual growth rate (CAGR) of 5.9%
from 2023 to 2030. According to an article published by the
Insurance Information Institute, Inc., total pet industry
expenditure in the U.S. was USD 123.6 billion in 2021, up 19% from
USD 103.6 billion in 2020. The 'pet humanization' trend, where
people develop ever closer relationships with their animals, has
driven significant consumer spending on pet food, supplements, and
related products to ensure the well-being and health of much-loved
pets. It has been demonstrated that supplements enhance
concentration, focus, energy levels, immune system strength and
heart health in pets. There is also considerable demand for calming
supplements to address stress and anxiety in pets and this is
expected to continue gaining traction among pet owners.
Inter-Technologies Inc, whose PetMark brand is renowned for
nurturing champion pedigrees and robust health for top-tier
Siberian 'Neva Masquerade' cats and kittens, first 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
resultant risks. Graft Polymer's GraftBio products, utilizing Self
Nano Emulsifying Drug Delivery Systems, offer an effective solution
for combatting these health issues.
GraftBio, a dedicated Pharma/Bio division within the Graft
Polymer group, operates from the Company's new state of the art
manufacturing facility in Slovenia as part of the Company's major
innovative equipment plant which has recently been commissioned
there and is set to double the Company's production capacity.
Focused on developing innovative Nano Drug Delivery Systems for
pharmaceutical and food supplement applications, GraftBio offers a
Supplement Product Pipeline tailored for veterinary purposes. The
key attractions of GraftBio products are their High
Bioavailability, Nano-sized forms, Natural Generally Recognized As
Safe (GRAS) ingredients, High Stability, and Health Safety. The
agreement with Inter-Technologies Inc. relates to a number of
GraftBio bio supplements for animals with a wide range of
applications.
Commenting on the agreement, Graft Polymer CEO / CTO Victor
Bolduev said: "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, CEO of Inter-Technologies Inc, added: "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".
ENDS
For further information, visit www.graftpolymer.com ,follow on
Twitter @PolymerLtd or contact:
Graft Polymer (UK) Plc
Roby Zomer, Non Executive Chairman Via Flagstaff
Yifat Steur, CFO and Executive Chairman
Turner Pope Investments Tel:+44 (0) 20 3657 0050
James Pope
Andy Thacker
Flagstaff Strategic and Investor Communications Tel + 44 (0) 207 129 1474
Tim Thompson graftpolymer@flagstaffcomms.com
Mark Edwards
Alison Allfrey
Anna Probert
About Graft Polymer
Graft Polymer is a London Stock Exchange listed company (GPL.L)
with a cutting-edge, cash-flow positive, research and development
(R&D) and manufacturing facility based in Slovenia which has
already introduced more than 50 products to the market. The core
business of the Group comprises polymer modification and drug
delivery system developments. The Group has developed a proprietary
set of polymer modification technologies which uses recycled raw
materials and a closed loop system to reduce waste. Graft Polymer's
technology can improve existing products and processing
methodologies by enhancing performance, simplifying manufacturing,
reducing material consumption, widening the choice of feedstocks,
and reducing costs.
Graft Polymer has three divisions: the first division focusses
on polymer modification; the second is GraftBio which develops IP
for Bio/Pharma applications (including a drug delivery system to
support and provide solutions to the market, which had been heavily
impacted by the COVID-19 pandemic); and the third is the Group's
food supplement division. A significant milestone was reached in
May 2022 when the Slovenian manufacturing facility was granted a
Hazard Analysis and Critical Control Point (HACCP) Certificate. The
HACCP Certificate allows it to enter the lucrative
Business-to-Consumer market and commercialise its IP for bio/pharma
applications, developing active pharmaceutical ingredients and drug
delivery platforms for use in the food supplement market, thereby
introducing a further revenue stream to its business.
Environment, Social and Governance is at the forefront of the
Group's strategy and the facility in Slovenia has been granted ISO
14001 accreditation in recognition of the environmental management
systems in place to reduce waste. Graft Polymer only uses REACH and
ROHS certificated raw materials instead of toxic raw materials, and
its extensive R&D programme has also developed specialised
recycling polymer additives which increases the strength of
recycled blends and plastic products whilst also reducing plastic
waste by between 40 and 50 per cent.
Graft Polymer is debt free.
ENDS
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END
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