|| Shree Mumba Devi Prasanna ||


🔀Headline News

Bayer Animal Health inks global license agreement with ParaTheraTech

12 Dec 2018

Bayer Animal Health GmbH and ParaTheraTech, Inc have signed a global license agreement to advance new Cryptosporidiosis treatment options for farm animals

MONHEIM - GERMANY 12 December 2018: Bayer Animal Health GmbH and ParaTheraTech, Inc. (PTT), have signed a global license agreement to advance new Cryptosporidiosis treatment options for farm animals. As part of the license agreement, Bayer will develop and commercialize novel compounds based on knowledge and intellectual property licensed by PTT from the University of Washington. Further terms of the agreement have not been disclosed.

Bayer Animal Health is focused on the development of innovative solutions for the most important health problems affecting dairy and beef cattle. “Cryptosporidiosis is considered one of the biggest unsolved parasite problems in dairy cattle. The license agreement with PTT will enable us to support farmers and veterinarians in tackling this health and well-being concern: early life diarrhea caused by Cryptosporidium,” says Dr. Douglas Hutchens, Bayer Animal Health’s Head of Drug Discovery, External Innovation & Chief Veterinary Officer.

The dairy and beef industry experience calf mortality rates in the range of five to 15%. Early life diarrhea is very common and one of the main causes for death in young calves. Since Cryptosporidium is a highly infectious diarrhea pathogen, the topic is high on the agenda of vets and farmers. “Today, Cryptosporidium is prevalent on 30 to 70 percent of the farms worldwide,” explains Dr. Christina Mertens, Bayer Animal Health’s Head of Dairy Innovation & Science Intelligence. “Therefore, the license agreement with PTT is a strong signal to our customers around the world: We are committed to helping farmers and vets to fight one of the most important diseases in young calves by strengthening our research and development of novel treatment options against cryptosporidiosis.”

Wes VanVoorhis, M.D. PhD., PTT’s Chief Executive Officer, says: “ParaTheraTech Inc. is pleased to partner with Bayer Animal Health on this most exciting project. We look forward to the real benefit farmers will experience from the product we will develop with Bayer Animal Health.” Tom Kennedy, PhD, PTT’s Chief Financial Officer, adds: “I am excited about this groundbreaking cryptosporidium therapy and the potential benefit to cattlemen.”

The University of Washington’s collaborative innovation hub, CoMotion, assisted PTT with patent filing and strategy, an Innovation Gap Fund grant, support for other funding and supported the company in licensing exclusive rights to the compound.

© Copyright 2016 Agriculture Times. All rights reserved. Republication or redistribution of Agriculture Times content, including by framing or similar means, is expressly prohibited without the prior written consent.

If everyone who reads our reporting, who likes it, helps fund it. For as little as INR 100, you can the AgriTimes™ and it only takes a minute. Thank you.

🔀Related News

Subscribe Us