Anatara Lifesciences (ASX:ANR) has received a second payment under the exclusive Evaluation and License Option Agreement with leading global animal health company Zoetis for Detach.
Detach is the company's non-antibiotic anti-infective product.
Under terms of the agreement Zoetis has exclusive rights to evaluate the potential applications of Detach for veterinary use in food production animals. Anatara has granted Zoetis an option to license Detach for development and commercialisation in markets worldwide while retaining rights to the Australian and New Zealand markets.
The financial terms surrounding the agreement are subject to confidential disclosure. However, it calls for Zoetis to provide Anatara with an upfront and subsequent cash payment during the Option Period. These Option payments have now been received. The companies agreed on a research program for investigation of the utility in multiple livestock species during the option period.
According to Anatara chair Dr Mel Bridges, “We are delighted to announce receipt of the second payment under this agreement.”
Anatara said its Detach technology has potential to play a part as an alternative to traditional antibiotics to treat gastrointestinal diseases in farm animals.