The supplement may have the potential to lower cholesterol and triglyceride levels in humans, it said.
"This level of efficacy is unique for a supplement and is similar to that seen with cholesterol lowering drugs that used the same animal model," according to a company statement.
The research, carried out by Monash University in Australia, used an animal model common in cardiovascular research as it mimics many of the properties seen in the progression of human heart disease.
In the trials, mice were placed on a high cholesterol diet for eight weeks under controlled conditions. They were given similar doses of either Phospha E (vitamin E phosphate) or regular vitamin E on a daily basis, starting four weeks after the high cholesterol diet.
LDL cholesterol dropped 40 per cent after two weeks of treatment with Phospha E. There was no significant change in good cholesterol levels in these mice. Another heart disease risk factor, plasma triglycerides, was also reduced by 44 per cent after four weeks.
"The current study extends the earlier positive in vitro findings and further demonstrates the potential of Phospha E to prevent cardiovascular disease," said Dr Esra Ogru, vice-president of R&D at Phosphagenics.
The researchers saw no changes in blood lipid concentrations in mice fed with the regular vitamin E. This is in line with results from other published studies.
The company did not discuss a potential theory for the product's action on cholesterol.
Phosphagenics granted rights to the product to Zila in late 2003, for the United States, Canada and Indonesia markets. It is looking to extend the distribution globally.