FinancialBuzz.com’s latest The Buzz Show: Featuring Our Corporate News Recap on “Kindred Biosciences, Inc. Skyrockets Amid Elanco Animal Health Inc Buyout Deal”
Kindred Biosciences, Inc. (NASDAQ: KIN) surged over 44% in premarket trading after the company and Elanco Animal Health Inc have entered into a definitive agreement for Elanco to acquire KindredBio.
The acquisition further accelerates Elanco’s expansion in the pet health market, particularly advancing Elanco’s presence in the fast-growing billion-dollar dermatology category and builds on Elanco’s existing relationship with KindredBio, which began with licensing the global commercial rights of KindredBio’s late-stage treatment for canine parvovirus.
Kindred Biosciences is a biopharmaceutical company developing innovative biologics focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The Company’s strategy is to identify targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated targets for dogs and cats. KindredBio has a deep pipeline of novel biologics in development across many therapeutic classes, alongside state-of-the-art biologics manufacturing capabilities and a broad intellectual property portfolio.
For more information, please visit: Kindred Biosciences, Inc.
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