A horse foaled in the district has delivered a dream result for some of his connections in the Group Three Geelong Cup.

Four-year-old Runaway, bred at Rosemont Stud about 20 minutes away from the Geelong racecourse, led home a stable quinella for co-trainers Gai Waterhouse and Adrian Bott in Wednesday's 2400m race.

Runaway ($16) led and kept fighting in the straight under jockey Stephen Baster to beat Northwest Passage ($9.50) by three-quarters of a length with the same margin to import Finche ($4.80).

English stayer Withhold, high up in Melbourne Cup markets and racing at Geelong to try to secure a start, faded in the straight to finish eighth as favourite.

Stewards reported Withhold bled from both nostrils, earning a three-month ban from racing and he also pulled up lame.

Runaway races in the colours of Rosemont and the stud's Anthony Mithen was among those celebrating the win.

"He was bred at the farm and I think that makes it all the more the special," Mithen said.

"He's wearing the colours and we still own a good chunk of him.

"We took him to a sale and sold him to Gai and then went back in him actually."

Runaway won the VRC St Leger at Flemington as a three-year-old and was third in the South Australian Derby.

He holds a Melbourne Cup entry but is well down the latest ballot order at 49th with only 50.5kg.

He is likely to need a significant penalty and attrition to help his chances of sneaking into the field of 24 and is more likely would need to head to the Hotham Handicap on Saturday week.

The winner of that race earns an exemption from the Melbourne Cup ballot.

"He had no intention of stopping and he won't either when he runs again," Waterhouse said.

Waterhouse said she would let the dust settle before deciding the next move.

"I'm not the handicapper. I'd imagine he would get a penalty today and that always helps," Waterhouse said.

"But they're two very exciting stayers. This has proven over the years to be a great lead-up to the Melbourne Cup and they're peaking at the right time.

"They're both nominated for the Melbourne Cup ... that's their mission and been their mission from day one."