Cellmid Signs Evaluation And Option To License Deal With Zoetis

(RTTNews) - Cellmid Limited (CDY.AX) said that it signed an agreement with animal health company Zoetis Inc. (ZTS) for the evaluation and option to license one of Cellmid's anti-midkine antibodies or MK antibody for therapeutic use in companion animals.

Cellmid said that its proprietary MK antibodies have previously been shown to be effective in animal models of a number of diseases. Zoetis will evaluate the performance of Cellmid's MK antibody in their proprietary models with the view to license.

The agreement is exclusive for the use of Cellmid's MK-antibody in animals. The terms of the agreement include upfront and exclusivity payments until such time as the option to license is exercised by Cellmid's partner. Additional financial details of the agreement are not disclosed.