Eco Animal Health welcomes sheep vaccine deal with Vaxinano
Eco Animal Health Group PLC on Wednesday said it has signed an exclusive licence agreement with biotechnology company Vaxinano SAS for a sheep vaccine candidate against toxoplasmosis.
The London-based animal health company said the licence will enable Eco Animal Health to complete the development of and commercialise the late-stage vaccine candidate for the prevention of reproductive failure caused by toxoplasmosis in sheep. The disease can cause significant economic losses through abortion, stillbirth and the birth of weak lambs.
Eco Animal Health will pay Vaxinano an undisclosed modest upfront licence fee, a future development milestone payment and royalties based on commercial product sales. The investment will be funded from operating cashflow in line with the company's existing research and development plans.
The company said: "The product offers a de-risked, accelerated pathway to market entry.
"With estimated peak annual sales of approximately £10.0 million in the UK and Europe alone, the product is expected to make a meaningful contribution to the incremental earnings from the company's growing vaccine portfolio."
Chief Executive Officer David Hallas said: "This agreement with Vaxinano is an exciting step forward for Eco, strengthening our position in livestock vaccines, complementing our new and growing vaccines franchise and aligning with the focus of our internal R&D portfolio in preventative animal health, in line with our investment plans.
"Toxoplasmosis is a major cause of reproductive losses in sheep and other species and we believe this programme offers an attractive and efficient opportunity to deliver a competitive new vaccine to market, with a development and commercial roadmap that fits our focus on preventative veterinary products and aligns with our existing infrastructure. The licence also provides Eco with the potential to build additional livestock vaccines over time.
"We look forward to working closely with Vaxinano as we progress development and advance this asset through a clear and swift pathway to commercial revenues."
Shares in Eco Animal Health rose 6.3% to 103.15 pence early Wednesday afternoon in London.
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