1st Sep 2014 08:55
LONDON (Alliance News) - Benchmark Holdings PLC said Monday that it has partnered with research company HypoPet to bring a new cat allergy vaccine to market.
The animal health, technical publishing and sustainability science business has entered into an agreement with the Swiss research company, based at the University of Zurich, for the final commercialisation, manufacture and distribution of a vaccine for cats, HypoCat, which neutralises the Fel d 1 protein, the primary cause of human allergic reaction to cats.
Over 90% of allergenic reactions to cats are caused by Fel d 1, a protein found in the saliva, skin and fur of the animal. The vaccine reduces the level of Fel d 1 protein by inducing an antibody response in the cat.
The agreement is designed to "open up a new market within the animal health sector with an estimated global value of GBP250 million," said Benchmark; an estimated 10% of the global population suffers from cat allergies. The company expects the vaccine to be commercialised within three to four years.
Under the terms of the deal, Benchmark will invest funds of up to CHF12million (GBP7.9 million) linked to delivery against key milestones, which include the development of the vaccine through to commercial-scale manufacturing, the completion of the licensing processes and final marketing.
The animal health company said that the agreement is in line with its strategy to invest in selected new technologies and opportunities to grow its product offering in related markets at the same time as exploiting its core vaccine production expertise and facilities.
Shares in Benchmark Holdings were Monday morning trading marginally higher, up 0.53% at 84.95 pence per share.
By Alice Attwood; [email protected]; @AliceAtAlliance
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