Interesting the bit about meeting with big pharma's and serious...

Interesting the bit about meeting with big pharma's and serious discussions about marketing the product (immunoxel)

STIRLING PRODUCTS
Stirling has described its $3 million Novus Capital placement at 0.4 cents a share as
?oversubscribed?
Stirling originally wanting to raise $6 million but scaled back the placement earlier this year
(BD: Dec 14 2010; Feb 8, 2011).
The company said one option came with every two new shares, exercisable at 0.8 cents
up to December 31, 2105.
Stirling said there would be an offer to shareholders to enable them to take advantage of
the company?s current low share price, but provided no details about the offer.
The company said the funds were for its re-licenced pharmaceutical plant, to purchase
inventory for its pharmacy sales business and to launch its first Kidney Health Australiapartnered
product in May 2011 (BD: May 25, 2010).
In May last year, Stirling added kidney indications to tuberculosis, HIV and influenza as
targets for Immunoxel, an over-the-counter cure-all from Kiev, for which it says it has
commercialization and distribution rights.
Separately, Stirling responded to a series of ASX questions regarding its half year report
for the six months to December 31, 2010.
The ASX noted Stirling lost $8,243,657 for the period, had net liabilities of $7,624,005 and
hoped to improve sales in the January to March period to $600,000 per month.
Stirling told the ASX it had raised funds in the placement (above) and would raise more
funds ?to ensure that the company?s future capital needs are adequately provided for?.
The company said it expected continued negative operating cash flow for the rest of the
full financial year but expected revenue to gradually improve.
Stirling also announced that a company named Immune Network claimed to have ?an
agreement with Ekomed for a tableted form of herbal immunomodulator Immunoxel
(Dzherelo)? for which Stirling says it is the distributor.
?The commercialization rights to Immunoxel together with all or any improvements in most
parts of the world excluding the Ukraine are contractually committed to the joint venture
between the company and Zodiac Capital,? Stirling said.
?This includes any tableted forms of Immunoxel,? the company said.
In 2009, Stirling managing director Peter Boonen told Biotech Daily his company was
involved in the commercialization of Immunoxel and the intellectual property was owned
by the Kiev-based Ekomed (BD: Apr 16, 2009).
Stirling said at that time that Immunoxel was one of 26 phyto-pharmaceutical or botanical
products being commercialized under a Zodiac Capital licence and, subject to shareholder
approval, Stirling has agreed to a joint venture with Zodiac Capital.
Mr Boonen said in 2009 that Zodiac Capital acquired the global marketing and
commercialization rights to Immunoxel, which he said was registered for use in South
Africa and he had requests from representatives of the Government of Nigeria to use the
product, which was also registered in the Ukraine and Mongolia.
He said his company had ?been meeting with a big pharma company and had serious
discussions? for marketing the product.
Stirling also announced yesterday that it would launch the M3K advanced anti-ageing face
cream, composed of ?Matrixyl 3000, hyaluronic acid, L-carnosine, DMAE [2-
dimethylaminoethano] and alpha lipoic acid ? a combination that is unique in the antiageing
and beauty industry?.
Stirling was unchanged at half a cent with 4.8 million shares traded.