GREENFIELD, Ind.--(BUSINESS WIRE)--Elanco Animal Health Incorporated (NYSE: ELAN) today announced an agreement with Kindred Biosciences (NASDAQ: KIN) to acquire exclusive global rights to KIND-030, a first-of-its-kind monoclonal antibody being developed for the treatment and prevention of canine parvovirus (CPV). This deadly disease impacts at least 250,000 puppies annually in the U.S., according to Banfield Pet Hospital1, with no approved treatment available.
Data from BluePearl Specialty and Emergency Pet Hospital, noted a 70% increase in positive parvovirus cases in their hospitals due to increased adoptions and higher volumes of dogs moving through shelters during the COVID-19 pandemic.
“With parvovirus on the rise, it’s more important than ever to bring a new treatment option to veterinarians for this devastating and deadly disease," said Aaron Schacht, executive vice president, Innovation, Regulatory and Business Development at Elanco. “Given our significant global access to veterinarians and pet owners, Elanco has a proven track record of partnering with biotech companies, leveraging our R&D capabilities and our skilled team of experts to advance and prove the potential of novel treatments like KIND-030. We’re excited to establish this important partnership with KindredBio to develop and commercialize this novel monoclonal antibody.”
KIND-030 is planned to be a cost-effective alternative to supportive care, which strengthens Elanco’s overall vaccine and therapeutics portfolios. It is currently being pursued for two indications in dogs: prophylactic therapy to prevent clinical signs of canine parvovirus infection and treatment of established parvovirus infection. Completion of the upcoming pivotal efficacy study for the therapeutic indication is expected in the first quarter of 2021.
“Today’s announcement brings us a step closer to saving hundreds of thousands of dogs exposed to this deadly disease each year," said KindredBio's CEO, Richard Chin, M.D. "We are excited to partner with Elanco, known as an innovation partner of choice for its proven track record in effective collaboration to commercialize external innovation. We believe KIND-030 can transform the way parvovirus infections are treated and prevented."
The global license includes an upfront payment of $500,000 and additional milestone payments based on successful completion of development targets, including efficacy, formulation and manufacturing. Sales performance will result in royalties and additional milestone payments for achieving revenue targets. Additionally, as part of the agreement, KindredBio also has a right of last refusal to manufacture certain other Elanco monoclonal antibodies.
ABOUT ELANCO
Elanco Animal Health Incorporated (NYSE: ELAN) is a global leader in animal health dedicated to innovating and delivering products and services to prevent and treat disease in farm animals and pets, creating value for farmers, pet owners, veterinarians, stakeholders, and society as a whole. With nearly 70 years of animal health heritage, we are committed to helping our customers improve the health of animals in their care, while also making a meaningful impact on our local and global communities. At Elanco, we are driven by our vision of Food and Companionship Enriching life and our Elanco Healthy Purpose™ Sustainability/ESG Pledges – all to advance the health of animals, people and the planet. Learn more at www.elanco.com
ABOUT KINDREDBIOSCIENCES
KindredBio is a biopharmaceutical company developing innovative biologics focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The Company's strategy is to identify targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated targets for dogs and cats. KindredBio has a deep pipeline of novel biologics in development across many therapeutic classes, alongside state-of-the-art biologics manufacturing capabilities and a broad intellectual property portfolio.
For more information, visit: www.kindredbio.com
Forward Looking Statement
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about development and reflects Elanco’s current belief. Forward-looking statements are based on our current expectations and assumptions regarding our business and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. For further discussion of these and other risks and uncertainties, see Elanco’s most recent filings with the United States Securities and Exchange Commission. Except as required by law, Elanco undertakes no duty to update forward-looking statements to reflect events after the date of this release.
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12014 Banfield State of Pet Health report compiled from the medical data of 2.3 million dogs treated at Banfield Pet Hospitals 2013.
