Anatara Announces Exclusive Global License Agreement with Zoetis
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Dr Mel Bridges, Executive Chairman & CEO, Anatara Lifesciences (Photo: Business Wire)
Under the terms of the license agreement, Anatara 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 18th January 2016), during which time 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.
Anatara’s Executive Chairman, Dr Mel Bridges said, “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 A. Brown, Vice President, 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.”
Anatara’s Detach® technology has the potential to play an important role as an alternative to traditional antibiotics to control gastrointestinal diseases in livestock and production animals. The agreement demonstrates both companies’ commitment to the responsible use of antibiotics in the food chain and finding natural alternatives to help control gastrointestinal disease.
Cherie Hartley, +61 (0) 418 737 020
Source: Anatara Lifesciences