APVMA Approval for Detach
"APVMA approval of Detach(R) was one of the major corporate milestones that we had promised to deliver as part of Anatara's ASX listing process in 2014. Today's announcement is the culmination of many years of hard work from our team, both past and present, and is a very significant achievement for the company," said Sue MacLeman, Anatara's Chair.
On 15 May 2018, Anatara announced that it had signed an exclusive licensing agreement with leading global animal health company, Zoetis Inc., for the worldwide development, manufacture, distribution, and marketing of Detach(R) for livestock and horses. Under the terms of this agreement, Zoetis has exclusive global rights which includes the Australian market and Anatara is not able to disclose any information relating to product development or product release.
"We are delighted to have secured APVMA approval for Detach(R) and would especially like to thank the CRC for High Integrity Australian Pork (Pork CRC) for their assistance in its development", said Tracie Ramsdale, Interim CEO. The Pork CRC (www.porkcrc.com.au) is made up of Australia's largest pork producers, feed manufacturers, key government, research and farming industry bodies. Anatara entered into a Commercial Collaboration Agreement with the Pork CRC in 2015. This relationship enabled Anatara to work closely with key players in the Australian pork industry to locate suitable clinical trial sites and conduct clinical trials, leading to APVMA approval.
Under the terms of the Commercial Collaboration Agreement, the Pork CRC was issued with 500,000 options at an exercise price of $0.50. 125,000 of these options were exercised within the first year. Exercise of the remaining 375,000 options was conditional upon APVMA approval which had not been received prior to their expiry on the 18th September 2018. Anatara will now issue 375,000 options to the Pork CRC, with an exercise price of $0.50 and an expiry date of 6 months from the date of issue.
About Anatara Lifesciences Ltd
Anatara Lifesciences (ASX:ANR) is developing and commercialising innovative, evidence-based products for gastrointestinal health where there is significant unmet need. Anatara is a life sciences company with expertise in developing products for animal and human health. Following the successful licencing of our first product to leading global animal health company, Zoetis Inc, we are now focused on building a pipeline of human gastrointestinal health products. Underlying this product development program is our commitment to delivering real outcomes for patients and strong value for our shareholders. For more information, please visit www.anataralifesciences.com.
Anatara Lifesciences Ltd