News Archive
Development Option and License Agreement with TEVA Animal Health
Eden Research plc, a leading UK agrochemical development company, is pleased to announce that it has entered into a development option and license agreement with Teva Animal Health Inc ("Teva"), based in St Joseph, Missouri, USA, for all veterinary health applications using Eden's encapsulation technology and terpene formulations in the North American Free Trade Agreement region.
Teva Animal Health is owned by Teva Pharmaceutical Industries Ltd, based in Israel, which is among the top 20 pharmaceutical companies and is the largest generic pharmaceutical company in the World.
The option and licence agreement provides for TEVA to pay milestone payments totalling USD$1.05m, plus royalty payments once sales of the products begin.
Upon exercise of its option, TEVA will obtain an exclusive licence to develop, manufacture and market products for the treatment of common bacterial, fungal, and/or parasitic pathogens in the veterinary health space in the United States of America, Canada and Mexico. TEVA will also have a first right to negotiate for an exclusive licence on the same basis to develop, manufacture and market products in the rest of the World.
Clive Newitt, Managing Director of Eden Research, said:
"We are extremely pleased to be working with such a well known and well respected company as Teva and believe that this deal underpins the interest in and commercial value of Eden's technologies and products."Enquiries:
Eden Research plc
Clive Newitt, Managing Director
01993 862761
St Helens Capital Partners LLP
Mark Anwyl
020 7368 6959