Third registration received for the Group’s innovative pain mitigation product
Expanding Tri-Solfen’s commercial potential
Melbourne, Australia – 16 November 2017 – Medical Ethics Pty Ltd (“Medical Ethics” or “the Group”), a commercial and development company focused on pain mitigation in wounds for humans and animals, announces that its wholly owned subsidiary, Animal Ethics Pty Ltd (Animal Ethics), has successfully registered Tri-Solfen in New Zealand for sheep and cattle husbandry procedures. Tri-Solfen is a local anaesthetic and antiseptic gel spray that adheres well to wounds and acts as a barrier to environmental stimuli, promotes haemostasis and improve wound healing. Tri-Solfen was registered through the Ministry for Primary Industries, which leads and facilitates the management of animal welfare policy and practice in New Zealand.
Over one billion livestock animals globally undergo highly invasive painful husbandry procedures annually. Tri-Solfen is already registered in Australia separately for sheep and cattle husbandry procedures, where it is marketed and distributed by Bayer Animal Health, a global leader in animal health. To date, Tri-Solfen has been used to successfully treat over 80 million animals undergoing routine surgeries in the Australian livestock industries.
Animal Ethics accelerated the expansion of its global registration programmes earlier this year through a commercial partnership with Dechra Pharmaceuticals PLC (Dechra), a FTSE 250 international veterinary pharmaceutical business. As part of the partnership, Dechra became a cornerstone investor in Medical Ethics and, in a separate agreement with Animal Ethics, secured the global licensing rights (excluding Australia and New Zealand) for the Group’s proprietary platform technology in animals. Dechra will support the Group’s strategy to register Tri-Solfen in major international markets, such as the EU and US.
Allan Giffard, Managing Director of Medical Ethics, commented:
“Over one billion livestock animals globally undergo highly invasive painful husbandry procedures annually. This registration is an important milestone for Medical Ethics as we further expand our international reach and help to minimise suffering associated with wounds in livestock. Farming communities globally are responding to new animal welfare pressures, and Tri-Solfen is proven to deliver a highly effective, practical and cost-efficient solution to improve animal welfare outcomes. We are currently in multiple marketing and distribution rights negotiations to bring this globally recognised technology to New Zealand.”
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Contacts:
Medical Ethics Pty Ltd, Tel: +61 419 362 286
Allan Giffard, Managing Director
Charles Olsson, Marketing Director
FTI Consulting, Tel: +44 20 3727 1000
Brett Pollard / Victoria Foster Mitchell / Abbas Omaar
Notes for editors:
About Medical Ethics Pty Ltd
Medical Ethics Pty Ltd is a commercial and development company focused on pain mitigation in wounds for humans and animals. Our vision is to develop and deliver our proprietary highly effective, safe, affordable and practical pain relief platform to prevent pain and minimise suffering associated with wounds in humans, livestock and companion animals. Medical Ethics is focused on the development of the Group’s patented technology initially for the treatment of chronic wounds such as diabetic leg ulcers. Animal Ethics, a wholly owned subsidiary of Medical Ethics, is the first, and currently the only, company globally to develop, launch and commercialise a topical pain and wound management product for use in livestock undergoing painful husbandry procedures.
In March 2017, Medical Ethics secured investment from Dechra Pharmaceuticals PLC (Dechra) in exchange for a 33% shareholding in the Group. A separate global license agreement (excluding Australia and NZ) was entered into by Dechra and Animal Ethics to secure the marketing and distribution rights of the Group’s proprietary platform technology in animals.
About Tri-Solfen
Tri-Solfen is a local anaesthetic and antiseptic gel spray that adheres well to wounds and acts as a barrier to environmental stimuli, promotes haemostasis and improves wound healing. Tri-Solfen contains two proven topical local anaesthetics; fast-acting Lignocaine for immediate pain relief and long-acting Bupivacaine for prolonged post- operative pain relief. Adrenaline is included for its ability to reduce the shock and stress of blood loss, whilst prolonging the anaesthetic action. Tri-Solfen also contains Cetrimide; an antiseptic widely used to cleanse skin and wounds and provides protection from bacterial contamination.
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.