Bioniche licenses animal health products

Bioniche Life Sciences (ASX:BNC) has secured an Australian distribution agreement covering animal health products from US-based Modern Veterinary Therapeutics.

Bioniche, a Canadian dual-listed biopharmaceutical company, has revealed it has negotiated with Modern Veterinary Therapeutics for exclusive distribution rights to four injectable animal health treatments.

The deal covers respiram, a respiratory stimulant for cats, dogs and horses, as well as cepetor, a sedative and analgesic for dogs and cats.

The other products are revertor – used to reverse the clinical effects of the medetomidine anaesthetic and analgesic in dogs and cats – and cepesedan, a sedative and analgesic for horses.

Bioniche president of animal health, Andrew Grant, said the distribution deal supports the company's efforts to expand its animal health operations beyond horses and into the companion animal segment.

“We estimate the Australian market for products of this type to be up to $11 million and, given that these products are already registered, we expect to start to see revenues within a few months,” he said.

The company's Australian operations are focused on the animal health side of the business. The company has a sales office in Sydney and an R&D and manufacturing facility in Armidale.

The Bioniche group, which also has human health and food safety operating units, this week revealed it had secured a US$20 million ($19.2 million) financing facility with US funding company Capital Royalty.

Bioniche (ASX:BNC) shares were flat at 60c on Friday’s close.