Aratana Acquires Okapi - Analyst Blog
08 1월 2014 - 5:55AM
Zacks
In a bid to strengthen its position in pet therapeutics,
Aratana Therapeutics, Inc. (PETX) recently
announced that it has acquired Belgium-based Okapi Sciences NV.
Okapi owns a proprietary pet therapeutics antiviral platform and
currently has five candidates in its pipeline being developed for
treating viral diseases.
As per the terms of the acquisition, Aratana paid approximately
€10.3 million in cash to the equity holders of Okapi. Aratana also
issued a promissory note for €11 million with a maturity date of
Dec 31, 2014 subject to mandatory prepayment in the event of an
equity financing. In addition, Aratana agreed to pay an additional
€12 million in cash or shares as per the terms stated in the
purchase agreement within 90 days.
Aratana, a biopharmaceutical company, focuses exclusively on
pets. Hence, the acquisition of Okapi will further bolster its
position in pet therapeutics, particularly in Europe. The lead
antiviral product candidate in Okapi’s pipeline is being developed
as a treatment of ocular disease caused by feline herpes virus in
cats. Once approved, Aratana plans to commercialize the product
under an existing development and commercialization agreement with
the Animal Health unit of Novartis (NVS).
The pipeline also includes a product for the treatment of feline
immunodeficiency virus and additional antiviral and oncology
products for both cats and dogs.
Moreover, the acquisition will allow Aratana to benefit from the
development agreements which Okapi has forged with leading
universities in Europe.
Aratana currently carries a Zacks Rank #3 (Hold). Some
better-ranked stocks in the biopharmaceutical sector include
Forest Laboratories (FRX) and Lannett
Inc. (LCI). Both carry a Zacks Rank #1 (Strong Buy).
FOREST LABS A (FRX): Free Stock Analysis Report
LANNETT INC (LCI): Free Stock Analysis Report
NOVARTIS AG-ADR (NVS): Free Stock Analysis Report
ARATANA THERAP (PETX): Free Stock Analysis Report
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