In-License Technology Agreeme
Issued by Citigate Dewe Rogerson Ltd, Birmingham
Friday, 27 March 2009
Dechra® Pharmaceuticals PLC
('Dechra' or 'the Group')
In-license technology agreement
strengthens Dechra's veterinary pharmaceutical pipeline
Dechra Pharmaceuticals PLC announces that the Group has signed an agreement to in-license technology to develop a novel product for the international canine and feline veterinary pharmaceutical markets.
The Directors believe that the product, which has unique clinical advantages and complements our existing product range, represents an excellent future growth opportunity. It will be competing in a growing market that is currently estimated at US$30 million.
Under the terms of the license agreement, Dechra has agreed to pay an initial fee of €0.5 million (£460,000) with a further €100,000 payable upon technology transfer which is expected to take place later this calendar year. Subsequently, there will be additional payments of €1.5 million per species upon submission of completed dossiers to the first of either the EU or USA regulatory authorities. A further €1.5 million per species will become payable upon full approval being received from either of the regulatory authorities. It is anticipated that dossiers will be filed in the 2012 calendar year.
The initial fee of €0.5 million will be expensed in the current financial year and the payment of €100,000 will be expensed in the 2010 financial year. It is expected that all remaining payments will be capitalised.
This project is one of the four novel projects outlined in the Group's recent half-yearly financial report as being at an advanced stage of internal approval.
Shareholders will be kept informed of progress.
|
Enquiries: |
|
|
Ian Page, Chief Executive |
Fiona Tooley, Director |
|
Simon Evans, Group Finance Director |
Keith Gabriel, Senior Account Manager |
|
Dechra Pharmaceuticals PLC |
Citigate Dewe Rogerson |
|
Telephone: + 44 (0) 1782 771 100 |
Telephone: +44 (0) 121 455 8370 |
|
Mobile: +44 (0) 777 564 2222 (IP) |
Mobile: +44 (0) 7770 788 624 (KG) |
|
Mobile: +44 (0) 777 564 2220 (SE) |
|
|
|
|
|
|
|
|
Ticker: Sector: Full Listing (Pharmaceuticals): DPH |
|
Trademarks appear throughout this release in italics. Dechra and the Dechra 'D' logo are registered Trademarks of Dechra Pharmaceuticals PLC.
This information is provided by RNS
Latest directors dealings
- 5 hours ago Luceco
- 5 hours ago Helios Towers
- 6 hours ago Wise Class A
- 6 hours ago EDX Medical Group Plc
- 6 hours ago Naked Wines