Benchmark Holdings PLC Benchmark secures innovative new equine vaccine
August 31 2016 - 1:01AM
RNS Non-Regulatory
TIDMBMK
Benchmark Holdings PLC
31 August 2016
RNS Reach
Benchmark Holdings plc
("Benchmark" or "the Company")
Benchmark secures innovative new equine vaccine
Benchmark is pleased to announce that its Animal Health division
has entered into an agreement with Evax AG ("Evax"), a Swiss equine
biotech company, to develop a recombinant vaccine to prevent and
treat the most prevalent skin disease in horses, Sweet Itch, also
known as Insect Bite Hypersensitivity (IBH).
Sweet Itch is caused by an allergic immune response to
Culicoides midge saliva. The disease poses a significant welfare
challenge for horses through intense itching and biting which
causes inflammation and often breaks the skin, allowing infection
to set in. It affects 7.5% of the global horse population; the
estimated total market value for treatment of the disease is over
GBP100 million per annum.
There is currently no efficacious preventative treatment or
licensed vaccine available for controlling Sweet Itch in horses.
The new vaccine utilises a Virus Like Particle technology (VLP), to
which is attached a specific equine cytokine known to be implicated
in this allergic disease. It combines the best of human science,
cutting-edge technology and veterinary medicine to improve the
quality of life of horses and horse owners. The Company expects the
first commercialised product to be made available for the European,
US and Canadian markets by 2020-21, followed by other markets.
Under the terms of the agreement, Benchmark will pay total
consideration of GBP1.12m and is contributing up to a further GBP4m
over the next 4 years towards development, which will be conducted
part in-house and part externally. Evax has granted Benchmark
worldwide rights for sales, distribution and manufacturing of the
product (excluding Switzerland) with royalties on net sales.
Manufacturing will be performed at Benchmark's state-of-the-art
Braintree site.
The agreement adds a new product to the Company's vaccine
portfolio and strengthens Benchmark's position to become a leader
in providing veterinary allergy solutions for companion
animals.
Malcolm Pye, Chief Executive of Benchmark commented:
"We are delighted to be partnering with such a highly-regarded
team to develop this much needed solution for an issue which
currently has no licensed vaccine treatment available. We continue
to invest in cutting-edge technologies and are seeing further
benefits from our investment in vaccine manufacturing at Braintree,
where much of the development and all of the manufacturing for this
vaccine will take place.
"Our ability to collaborate with other teams in this technology
space will enhance our own offering, both in the breadth of
products we can provide and in improving the efficacy of our
products currently in development."
- ENDS -
Benchmark Holdings plc Tel: +44 (0)1142
409939
Malcolm Pye, CEO
Roland Bonney, COO
Rachel Aninakwah, Communications
Numis Tel: +44 (0)2072
601000
Michael Meade/Freddie Barnfield
(NOMAD)
James Black / Tom Ballard
(Corporate Broking)
Tavistock Tel: +44 (0)2079
203150
Matt Ridsdale/Niall Walsh
Notes to editors:
Founded in 2000, Benchmark has built a profitable group of
companies on the economics of a sustainable food chain. The Company
is growing in response to a rapidly increasing demand for
sustainable food chains, and in particular for seafood, from both
mature and emerging markets.
The Group has five divisions: Breeding & Genetics, which
comprises a world-leading Salmon and aquaculture breeding business;
Advanced Animal Nutrition, which provides cutting edge nutritional
products and services to the aquaculture industry; Animal Health,
which researches, manufactures and markets medicines and vaccines
particularly for aquaculture; Sustainable Science, which researches
and informs sustainable development in the food industry; and
Technical Publishing, which effects technology transfer through
online publishing and education. Through Improve international, the
Group's leading veterinary training and CPD provider, Benchmark
trains vets in the field who will have knowledge of, and will
provide an excellent network for spreading knowledge regarding, new
products. Benchmark operates internationally with offices in
England, Scotland, Belgium, Ireland, Norway, Iceland, USA, Brazil,
China, Russia, Portugal, Thailand and Chile. As at 30 June 2016,
Benchmark employed 889 people.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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