IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients

Bayer Animal Health Taps into Paraco's Molecules

3:19 AM MDT | July 15, 2010 | Natasha Alperowicz

Bayer Animal Health and Paraco Technology (Palmerston North, New Zealand), a start up biotech company, owned by New Zealand's AgResearch, have signed an option agreement allowing Bayer exclusive access to Paraco's current lead molecules for testing and development in animal health. The focus is on research into parasiticides. Paraco, although supported financially by AgResearch, is keen to raise external funds to allow it to progress its lead molecules quickly, says Ian Boddy, managing director of Paraco. Bayer Animal Health, a part of Bayer HealthCare, had sales...

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