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Animalcare Group Plc enters into an agreement with Kane Biotech Inc

1 min read | September 28, 2020 10:44 PM BST | By Team Kalkine Media
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Animalcare Group Plc (LON:ANCR) has entered into an agreement with Kane Biotech Inc., a Canada-based biotech company.

  • As per the agreement entered by the two companies, together they will form a company dedicated to treating biofilm-related ailments in animals by the name of STEM Animal Health Inc.
  • On entering into the agreement, the company will put CA$3 million in tranches in a span of four years (48 months) to buy a one-third plus one share equity interest in the newly created subsidiary.
  • ANCR shares on 28 September 2020, at the time of writing, GMT 12:36 PM, were trading at GBX 187.50, up by 2.50 points or 1.35% against the previous day’s closing price.

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