Interesting acquisition by Zoetis demonstrates potential for ENTB_ZANDER> ALAMAZOO, MI -- Zoetis Inc. will spend about $85 million to acquire an Irish company that specializes in pain management treatments for dogs, cats and other domesticated animals.
Working through a wholly owned subsidiary, the animal health company announced an agreement Thursday to purchase Nexvet Biopharma, an innovator in the use of monoclonal antibody treatments for companion animals.
Antibodies are the protein molecules produced in animals' immune systems. They attack such things as bacteria and viruses.
Monoclonal antibodies are antibodies produced in a laboratory from a single clone of cells or cell line. According to the National Cancer Institute, they are made to bind to only one substance and are being used to treat some types of cancer.
"This acquisition is a strategic fit that brings to Zoetis an R&D (research and development) organization that shares our commitment to industry-leading innovation," Dr. Alejandro Bernal said in a press release. Bernal is executive vice president and group president in Strategy, Commercial and Business Development at Zoetis.
"It will strengthen our R&D pipeline in monoclonal antibodies and help sustain our category leadership in chronic pain management for companion animals, which is an area poised for innovation with new mAb (monoclonal antibody) therapies," he said.
