Avivagen Inc. (VIV:TSX.V) announced in a news release it agreed to form a joint venture with Mimi's Rock Corp. to sell nutritional supplements for cats and dogs online.
Mimi's Rock is an online dietary supplement and wellness company operating under the Dr. Tobias brand and selling successfully on Amazon.com.
"Mimi's Rock has cracked the code of customer engagement and service to the next level," Avivagen CEO Kym Anthony said in the release.
Per the agreement, Avivagen will supply its products, including its proprietary OxC-beta brand, to Mimi's Rock. The e-tailer will then market and sell them through its online global channels. Avivagen will only sell its nutritional supplements for cats and dogs online through Mimi's Rock.
Sales will be transacted through a newly formed, co-owned joint venture corporation. The two companies will split the profits evenly.
"We estimate that online sales of products for pets is a $10.5 billion per year market globally, and we believe that Avivagen's OxC-beta technology will offer our customers unique, rigorously tested and scientifically backed products for the best care of their pets," Mimi's Rock CEO Dave Kohler said in the release.
The joint venture is targeting Q1/20 for its first product launch.
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