Biovotec Has Established A Fully Owned Subsidiary; Biovotec Animal Health
Biovotec AS has through its preclinical studies obtained compelling results in the wound healing trials of animals which strongly indicates that the activated eggshell membrane also promotes wound healing in animals. These results have inspired Biovotec AS to establish a dedicated subsidiary; Biovotec Animal Health.
“I am excited about expanding our potential market beyond human application and to make our material also available for those who take responsibility for the welfare of animals. In addition of course from a business point of view, this opens up possibilities to obtain revenues earlier than only targeting the human market.” - Ralf Schmidt, CEO at Biovotec
Biovotec Animal Health has obtained from Biovotec AS an exclusive license on the patents owned and filed by Biovotec AS to capitalize these results for animal wounds. Wounds in animals are a significant problem, both in pets and production animals. There are several products out in the market for wound treatment with varying efficiency. The regulatory hurdle to sell in the animal market are significantly lower than to the human market. Based on this Biovotec saw an opportunity to expand into this market. However, to maintain the strong focus on our primary human market Biovotec has decided to organize these animal activities in a separate company named Biovotec Animal Health. Biovotec Animal Health will actively seek the collaboration with established players and intends to enter the market through those corporation partners.