Animal Ethics Pty Ltd (Animal Ethics) secures cornerstone investor with 33% of its share capital purchased by FTSE 250 company Dechra Pharmaceuticals PLC.
The investment includes a global license agreement (excluding Australia and NZ) for the Animal Ethics pain mitigation and wound treatment technology
Tri-Solfen®, and will accelerate Animal Ethics objective to register Tri-Solfen in major international markets, such as the EU and USA.
Tri-Solfen has proven to be highly successful in Australia, and is registered as an over-the-counter product for the reduction of pain in lambs and calves undergoing routine surgical procedures, such as castration, tail-docking and disbudding. To date the leading animal welfare technology has treated over 70 million animals.
The global market potential for Tri-Solfen is estimated to be in excess of AUD $350 million per year for the treatment of routine on farm procedures in calves, lambs and piglets.
“This is a great result for our Australian based research and development company, world-wide consumers are now demanding best animal welfare practices in food and fibre production” said Allan Giffard, managing director of Animal Ethics. “Dechra is a leading global pharmaceutical company that has also recognised the social impact this is creating, and through their investment will assist Animal Ethics in providing a practical and cost efficient animal welfare solution for livestock industries globally. This new partnership with Dechra is a major breakthrough for our company.’’
Allan Giffard +61 419 362283