Animalcare Group (AIM:ANCR) announced the acquisition of the VHH NGF programme and related assets from Orthros Medical, in a €700,000 deal.
In effect, the transaction terminates existing license arrangements entered into back in 2022, and, instead, it gives Animalcare full ownership and control of the intellectual property. As such, it also ends future milestone and royalty obligations.
The VHH NGF programme targets osteoarthritis pain in horses and dogs and could complement Daxocox.
Animalcare highlighted that the new ownership model allows independent development and commercialisation across species and indications.
It also removes significant potential financial obligations under the old license, covering development, regulatory and commercial milestones and royalties on net sales.
“The acquisition of the VHH NGF programme and new partnership with 272Bio represent key building blocks in our long-term growth strategy,” chief executive Jenny Winter said.
"Working with 272Bio, we have an exciting opportunity to build our future pain portfolio while exploring further potential opportunities with VHH technology in animals."
In London, Animalcare shares were up around 3%, at 259.45p, valuing the company at around £180 million.