Plasvacc buys US vet plasma company
Monday, 07 February, 2005
Queensland veterinary blood plasma company PlasVacc has purchased US plasma company Veterinary Dynamics Inc (VDI).
The public unlisted company issued a prospectus last year to raise AUD$4.75 million, and has raised $4 million to date, with the offer remaining open until the end of March. In addition to the VDI purchase, the funds have been earmarked for expansion for sales and marketing in both the US and Australian markets, and for R&D.
The acquisition of VDI will provide PlasVacc with access to the lucrative US veterinary plasma market for its animal plasma products. Both companies experienced strong growth in 2004 and the growth trend is expected to continue, according to PlasVacc cofounder and chairman Robert Macarthur.
VDI will be rebranded PlasVacc and the merged companies will be run as one business.
PlasVacc has several plasma products registered with the Australian Pesticide and Veterinary Medicines Authority (APVMA) for use in horses, camels and dogs, and is in the process of commercialising a bovine plasma product for use in cattle. It plans to expand these products into the US market and eventually the European market.
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