Shares in Anatara Lifesciences are on a tear after the developer of therapies for pig diarrhoea signed an exclusive license option agreement with Zoetis, a leading global animal health company.
A short time ago, the shares were up 8.5% to at $1.40, about three times the price of a year ago.
Under the agreement, Zoetis has the exclusive global right to evaluate potential applications of Detach, Anatara’s non-antibiotic treatment for diarrhoea, for veterinary use in production animals.
Anatara retains rights to the Australian and New Zealand markets.
Diarrhoea is a problem for pig farms, with sick pigs losing condition and piglets dying. Traditionally antibiotics are used to treat this. Australia processes almost 5 million pigs a year in an industry worth $1 billion.
Anatara raised $9 million in a share placement in July last year so the company could push into Europe, the US and Asia earlier than forecast.