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

Suggested Articles

Preclinical-stage biotech Abpro Therapeutics wants to trial its two lead candidates for HER2-positive cancers and diabetic macular edema in 2019.

After a rough patch in 2017, the stars seem to be realigning for French CAR-T expert Cellectis, which just closed a $164 million U.S. public offering.

Investment firm Frazier Healthcare Partners has closed its 11th fund—worth $780 million—that will help established companies accelerate their growth.