Zoetis exercises option for Anatara's 'Detach'

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Anatara Lifesciences (ASX:ANR) has announced that global animal health company, Zoetis, has exercised its option to negotiate a commercial agreement for the worldwide development, distribution and marketing of Detach, with terms to be agreed.

The licensing negotiations follow an Exclusive Research Evaluation and License Option period, during which Zoetis completed a preliminary evaluation of Detach as a non-antibiotic approach to help control scours in certain livestock.

"It is expected that negotiations will take some months to complete, and there is no guarantee that a transaction will be completed," said the company.

According to Anatara’s chair and CEO, Dr Mel Bridges, “We are delighted to now be moving into formal negotiations for Detach’s development and commercialisation.