Venable represented Dechra Pharmaceuticals PLC, an international veterinary pharmaceuticals and related products business, in the acquisition of the worldwide rights to the Mirataz® product portfolio from Kindred Biosciences, Inc. (NASDAQ: KIN) for a total consideration of $43.0 million and a royalty on future sales. The addition of Mirataz significantly enhances the Dechra portfolio and is fully complementary to its existing product offering to veterinarians.
Mirataz® is the first and only FDA- and EMA-approved transdermal medication for the management of weight loss in cats, a major problem encountered by veterinarians and owners when treating other underlying medical conditions. Dechra is acquiring the worldwide marketing rights, the rights to the intellectual property, the marketing authorizations and associated regulatory documentation, supply contracts with third parties in relation to the raw material and manufacture of the finished product, and some existing inventory of the product.
Completion of the acquisition is expected before the end of June 2020, following the satisfaction of a number of conditions precedent.