KIN - Elanco buys rights to KindredBio's canine parvovirus therapy

Elanco Animal Health (ELAN) has entered into an agreement with Kindred Biosciences (KIN) to acquire exclusive global rights to KIND-030, a monoclonal antibody being developed for canine parvovirus.Global license includes an upfront payment of $500k, development milestone payments of up to $16M, and sales milestones of up to $94M.Furthermore, royalty payments are to range from the low to high teens.KIND-030 is being pursued for two indications in dogs: prophylactic therapy to prevent clinical signs of canine parvovirus infection and treatment of established parvovirus infection.In September, KindredBio reported positive results from its pivotal efficacy study for the prophylactic indication. Completion of the upcoming pivotal efficacy study for the therapeutic indication is expected in Q1 of 2021.KIN shares rise 5.4% in premarket, while ELAN gained 3%.

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Elanco buys rights to KindredBio's canine parvovirus therapy