Phosphagenics forms horse supplement JV

Phosphagenics (ASX:POH) has entered into a joint venture with Equine Erogenics Australia (EEA) to market products based on its TPM drug delivery technology to the global racehorse market.

Under the terms of the arrangement, EEA will manufacture TPM supplements designed for thoroughbred horses for sale on the market.

The first two products, known as OBla-max and OBla-plus, use Phosphagenics' Targeted Penetration Matrix (TPM) technology to deliver vitamins and minerals that aid in the production of red blood cells.

A third, Phytate X Max, delivers betacarotene and vitamin C to help counteract the iron-blocking effect of a grain and legume diet in horses.

EEA is the R&D arm of Equine Nutrition Australia (ENA). Phosphagenics entered a partnership with ENA in July to develop the supplements, having previously collaborated on horsefeed products using TPM technology.

The partners already have their first customer. A Singapore thoroughbred trainer placed an order after the Singapore Turf Club approved the products for use. The club has also approved the TPM horsefeed products.

The JV also expects to soon appoint a distributor for EEA's TMP products for 10 countries in Southeast Asia.

Phosphagenics (ASX:POH) shares were trading unchanged at 15.5c as of 4.45pm on Wednesday.