Zomedica Corp. (ZOM) is experiencing a surge in its stock price today, driven by the expansion of its distribution partnership with Grovet. This expanded agreement gives Grovet exclusive rights to distribute Zomedica’s equine products, encompassing both the PulseVet and TRUFORMA platforms, across 27 European countries. These countries include major markets like Germany, France, and Spain, with non-exclusive distribution rights granted for Italy and the United Kingdom.
The expanded partnership marks a significant milestone for Zomedica, extending the reach of its PulseVet technology to a wider European market. Additionally, it introduces the TRUFORMA platform, including its equine eACTH and Cortisol assays, as well as the upcoming equine Insulin assay, to Grovet’s product offerings.
Both companies are optimistic about the collaboration. Koen Schmitz, Managing Director of Grovet, emphasized the importance of partnering with companies dedicated to science-backed products, a characteristic he sees in Zomedica’s offerings. Brandon Marino, Senior Director of Global Channels for Zomedica, highlighted Grovet’s proven track record as a partner for the PulseVet line and its ability to effectively expand the reach of Zomedica’s TRUFORMA platform within Europe.
This news has boosted ZOM shares, which are currently up 2.53% at $0.1337. The expansion into the European market signifies Zomedica’s commitment to expanding its global presence and offering its innovative equine products to a broader audience.
