Aratana to Acquire Vet Therapeutics
Aratana Therapeutics (NASDAQ: PETX), a biopharmaceutical company focused on the licensing, development and commercialization of innovative medications for pets (pet therapeutics), today announced that it has entered into a merger agreement providing for the strategic acquisition of Vet Therapeutics, Inc., a San Diego-based company with a proprietary antibody-based biologics platform. Under the agreement, Aratana plans to continue to advance the pipeline of high value biologic drugs, including its lymphoma franchise. Importantly, the acquisition of Vet Therapeutics is expected to significantly accelerate Aratana's pathway toward becoming a commercial-stage pet therapeutics company.
Vet Therapeutics' canine antibody product intended as an aid for the treatment of canine T-cell lymphoma in dogs has been submitted to the U.S. Department of Agriculture for review. The company's canine monoclonal antibody intended as an aid for the treatment of B-cell lymphoma in dogs has been granted a conditional license by the USDA. The product is commercialized under a distribution agreement with a large animal health company in certain territories. Beyond these