BRISBANE, Australia--(BUSINESS WIRE)--Anatara Lifesciences (ASX:ANR) is pleased to announce that global animal health company, Zoetis Inc. (‘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 (announced 18th January 2016), during which time 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.
Anatara’s Chairman and CEO, Dr Mel Bridges commented, “We are delighted to now be moving into formal negotiations for Detach’s development and commercialization.”
Anatara’s Detach® technology has potential to play a part as an alternative to traditional antibiotics to help control scours in farm animals. Collaboration between Anatara and Zoetis reinforces the two companies’ commitment to reducing the use of antibiotics in livestock production.
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.
About Zoetis
Zoetis 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, genetic tests, biodevices and 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 2016, the company generated annual revenue of $4.9 billion with approximately 9,000 employees. For more information, visit www.zoetis.com.
