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news.Chemaphor has received payments from Elanco Animal Health, a division of Eli Lilly and Company, under the collaborative research, license and commercialization agreement for OxBC product technology.
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These payments were necessary in order for Elanco to secure commercialization rights to products for use in poultry and the right to potentially expand commercialization into other food animal species.
Graham Burton, president and CEO of Chemaphor, said: “The proceeds are considered significant to our current financial reporting, and we consider this to be a major step forward in our collaboration with Elanco and our commercialization goals for OxBC.”