Aratana Therapeutics to acquire Vet Therapeutics for cash and stock

|About: Aratana Therapeutics (PETX)|By:, SA News Editor

The acquisition is expected to significantly accelerate Aratana's (PETX) pathway toward becoming a commercial-stage pet therapeutics company.

Aratana will pay to Vet $30M in cash, issue 625K shares of common stock, and issue a promissory note for $3M with a maturity date of December 31, 2014. Aratana will also pay up to $5M cash upon the achievement of certain regulatory and manufacturing milestones for the B-cell lymphoma product.

Aratana also said that it has entered into a share purchase agreement providing for $19.75M of common shares - 1,234,375 shares at $16.00 per share.

This was corrected on 10/14/2013 at 06:32 AM. Item was originally syndicated erroneously to ARTX (Arotech Corp.). Aratana's ticker symbol is PETX.