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LONDON (Alliance News) - ECO Animal Health Group PLC said Monday it has signed a development and licencing deal with an Israeli university for the development of a long-acting injectable drug for use in pigs.
ECO Animal Health Ltd, a wholly owned subsidiary of the animal drug maker, will licence research-related innovations for the development of a single-dose product to treat swine bacterial respiratory disease.
A number of milestone payments will be made to Agrinnovation and Yissum Research Development Company of the Hebrew University of Jerusalem Ltd in Israel for the licence.
The amount of these payments has not been disclosed.
The drug's active ingredient will be Florfenicol, a widely-used antimicrobial treatment in veterinary medicine.
ECO Animal Chairman Peter Lawrence said respiratory disease accounts for more than 40% of antimicrobial treatments in finishing pigs. A finishing pig is one that is being fed to market weight.
In addition, ECO Animal said the new injectable drug will complement its patented molecule Aivlosin, which is administered orally to treat diseases in pigs and poultry.
Shares in ECO Animal were up 0.6% at 450.00 pence.