OTTAWA, ONTARIO -- Chemaphor Inc. has reached a collaborative research, license and commercialization agreement with Elanco Animal Health to license its OxBC product technology.

The agreement establishes the framework for Chemaphor and Elanco to develop and potentially commercialize products for use in poultry and other food animal species using OxBC technology. Under the agreement, Chemaphor may receive technology access fees, regulatory milestone payments and royalties from OxBC sales.

"We are very pleased to have reached this agreement with Elanco, a leading global animal health care products company" said Graham Burton, president and CEO of Chemaphor. "This represents a major achievement for Chemaphor in its plan to commercialize products from its platform of oxidized carotenoid compounds.

"To attract a world class, industry-leading organization to join us in our pursuit of the successful commercialization of OxBC as a non-antibiotic product for improving growth and feed efficiency in food animals demonstrates the underlying value of the Chemaphor technology and gives OxBC the best chance for success. We are excited to work very closely with the Elanco team to achieve this goal."

Chemaphor Inc. uses its core expertise in organic chemistry to develop premium products for the animal health, skin care cosmetics, pharmaceutical and specialty chemical markets.

SOURCE: Chemaphor Inc. via Market Wire.