Anatara Lifesciences (ASX:ANR) has announced an exclusive licensing agreement with Zoetis, a leading global animal health company, for the worldwide development, manufacture, distribution and marketing of Detach as a non-antibiotic approach to aid in the control of diarrhoeal disease (known as scour) in livestock and in horses.
In a statement, the company said that under the terms of the license agreement, it has granted Zoetis exclusive rights to develop, manufacture, distribute and market Detach worldwide, including in Australia.
The agreement follows an initial Exclusive Research Evaluation and License Option period announced on 18 January 2016. Zoetis evaluated Detach for use as a non-antibiotic product in livestock species.
The terms of the agreement include an upfront payment, milestone payments and royalties based on product sales. Intellectual property exclusively licensed to Zoetis under the agreement shall remain the sole property of Anatara. Exact details of the agreement remain confidential.
According to Anatara’s executive chairman, Dr Mel Bridges, “Through signing this agreement with Zoetis, Anatara has reached a major commercial milestone - this an exciting moment for our shareholders.”
Dr Bridges added, “The global reach and resources that Zoetis is able to apply to making Detach a successful product is of great value to Anatara. We see this as an outstanding result with a world-leading partner.”
“Veterinarians and livestock farmers are seeking new, integrated solutions to help keep animals healthy,” said Dr Scott Brown, vice president of external innovation at Zoetis. “We look forward to continuing our research and development of this novel approach and intend to explore its place in our diverse portfolio of solutions to prevent and treat gastrointestinal illness in livestock animals and horses.”