SOURCE: Velcera, Inc.

June 03, 2009 17:29 ET

Velcera Licenses New Pet Medicine

Novel Pet Medicine Using Promist™ Delivery Out-Licensed to Multinational Animal Health Company

YARDLEY, PA--(Marketwire - June 3, 2009) - Velcera, Inc., a specialty pharmaceutical company focused on pet health, announced that it entered into a global licensing agreement with a multinational animal health company. The global agreement calls for the licensing partner to develop, register and commercialize a novel pet medicine utilizing Velcera's patented oral mucosal drug delivery technology branded Promist™. While the terms of the agreement are confidential, it calls for upfront payments, developmental milestone payments, as well as royalties based upon sales.

"We are very pleased to enter into this license and development agreement for an important pet medicine that will improve the ease of administration for pets and owners," said Dennis Steadman, CEO of Velcera. "This agreement will help pet owners access our technology to improve pet health. We look forward to a long-term relationship and additional products in the future," Steadman added.

About Velcera

Velcera ( is a specialty pharmaceutical company focused on innovation in the expanding pet health market. Velcera's product development targets pet medicines that can provide superior convenience, value and compliance. Product candidates based upon the patented Promist™ delivery technology have the potential to improve pet health as pet parents avoid the challenges of getting pets to swallow pills.

Contact Information

  • Velcera, Inc. Contact:
    Dennis F. Steadman