Receives Second Payment for Detach Under The Agreement with Zoetis (NYSE:ZTS)
- Second payment received under the exclusive evaluation and license option agreement with the global animal health company, Zoetis Inc. to explore the utility of Detach(TM) a non-antibiotic anti-infective product, for use in food production animals.
- Detach(TM) has the potential to play a part as an alternative to traditional antibiotics to control infections in farm animals, as public health officials worldwide seek strategies to combat antimicrobial resistance.
- Agreement grants Zoetis an exclusive option to license Detach(TM) for development and marketing worldwide with Anatara retaining rights to Australia and New Zealand
Under terms of the agreement which was initially announced on the 18th January 2016, Zoetis has exclusive rights to evaluate the potential applications of Detach(TM) for veterinary use in food production animals. Anatara has granted Zoetis an option to license Detach(TM) for development and commercialization 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 the Agreement 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. The Agreement has allowed Anatara to further strengthen its Balance Sheet.
Anatara Chairman Dr Mel Bridges said: "We are delighted to announce receipt of the second payment under this agreement,."
The World Health Organisation and other global health authorities have adopted action plans to combat antimicrobial resistance. Responsible use of antibiotics in people and animals is a cornerstone of these plans as is investment in innovation to develop innovative alternatives to antimicrobial medicines.
Anatara's Detach(TM) technology has potential to play a part as an alternative to traditional antibiotics to treat gastrointestinal diseases in farm animals. Anatara's intellectual property provided to Zoetis under the agreement shall remain the sole property of Anatara.
About Anatara Lifesciences Ltd
Anatara Lifesciences (ASX:ANR) is developing therapeutics for gastrointestinal diseases in production animals and humans. Its lead product Detach(R) is a natural plant based product that aids in the control of diarrhoea and will help address global concerns around the overuse of antibiotics in production animals that is contributing to the rise of so-called "super bugs" that make infectious diseases harder to treat. The Anatara team has a strong track record in biological science as well as building and growing international biotech companies.
About Zoetis Inc
Zoetis (NYSE:ZTS) is the leading animal health company, dedicated to supporting its customers and their businesses. Building on more than 60 years of experience in animal health, Zoetis discovers, develops, manufactures and markets veterinary vaccines and medicines, complemented by diagnostic products and genetic tests and supported by a range of services. Zoetis serves veterinarians, livestock producers and people who raise and care for farm and companion animals with sales of its products in more than 100 countries. In 2015, the company generated annual revenue of $4.8 billion with approximately 9,000 employees. For more information, visit www.zoetis.com.
Anatara Lifesciences Ltd