Aratana adds pet therapies in $38M deal to acquire Vet

Aratana Therapeutics has struck a deal to buy San Diego-based Vet Therapeutics, adding new pet therapies to its pipeline for $30 million in cash, a chunk of stock, a promissory note for $3 million and up to $5 million in milestone payments. Aratana went public earlier this year, boasting of a pipeline of biologics for dogs and cats to fill the growing demand for new animal therapies. Vet, which will now remain in San Diego as a subsidiary, will add its work on antibodies for the veterinarian market. Its new therapy for T-cell lymphoma in dogs is under review by the Department of Agriculture. Release