Pond Technologies Holdings (TSX.V: POND) is expanding the distribution of its astaxanthin-based pet supplement to the U.S.
The company has signed an agreement with Nevada-based Applied Bio to sell its X10-branded pet products alongside Applied Bio’s CBD-based pet products. Under the three-year license agreement signed by the company’s subsidiary Pond Naturals, the X10-branded pet products will be sold through Applied BioSciences’s online sales channels in the U.S.
Applied Bio develops and markets CBD-based therapeutics and biopharmaceuticals in the U.S., including its premium pet brand Herbal Pet. The company intends to sell X10 products alongside Herbal Pet products through its existing e-commerce channels.
Herbal Pet has developed a line of pet supplements that uses hemp-derived CBD to address conditions such as pain, inflammation, anxiety, or digestion. X10 contains nature’s most powerful antioxidant: astaxanthin extracted from algae at Pond Natural’s Agassiz, British Columbia facility. Like Herbal Pet, X10 targets the premium pet segment, using only natural and vegan ingredients.
UK based research firm Technavio estimates that the global pet dietary supplements market will grow by US$624 Million through 2023.
“Adding X10 to our product portfolio allows us to specifically target senior pets whose owners may witness a noticeable improvement in mobility, energy, and attitude in their furry family members,” Applied Bio President Chris Bridges stated.