BRISBANE, Australia--(BUSINESS WIRE)--Anatara Lifesciences (ASX:ANR) today announced that it has signed an exclusive evaluation and license option agreement with the leading global animal health company Zoetis Inc. for Detach™, Anatara's non-antibiotic anti-infective product.
Under terms of the agreement, Zoetis will have 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 Agreement follows the completion of preliminary due diligence by Zoetis.
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 payments during the Option Period. The companies have agreed on an aggressive research program for investigation of the utility in multiple livestock species during the option period. The Agreement will allow Anatara to further strengthen its Balance Sheet.
Anatara Chairman Dr Mel Bridges said: "We have had significant international partnering interest in Detach™, and have selected Zoetis as our ideal partner to develop Detach™ for registration and launch worldwide for use in livestock. The Anatara team look forward to working with Zoetis in fast tracking the development of our lead product.”
The World Health Organization 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™ technology has potential to play a part as an alternative to traditional antibiotics to treat gastrointestinal diseases in farm animals," said Dr. Scott A. Brown, Vice President, External Innovation, at Zoetis. "We look forward to evaluating the potential utility of this innovative technology as we seek to offer our veterinary and livestock producer customers worldwide new solutions that help protect animal health and bring value to their businesses."
Anatara's intellectual property provided to Zoetis shall remain the sole property of Anatara.
About Anatara Lifesciences
Anatara Lifesciences is developing therapeutics for gastrointestinal diseases in production animals and humans. Its lead product Detach™ is a natural plant based product that 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.
Zoetis (zo-EH-tis) 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. In 2014, the company generated annual revenue of $4.8 billion. With approximately 10,000 employees worldwide at the beginning of 2015, Zoetis serves veterinarians, livestock producers and people who raise and care for farm and companion animals with sales of its products in 120 countries. For more information, visit www.zoetis.com.