Deprenyl Animal Health Inc., Draxis deal

The companies signed a letter of intent under which DRAXF will receive exclusive Canadian marketing rights for 10 years to DAHI's Anipryl (l-selegiline), a treatment for canine Cushing's disease. DRAXF will pay an upfront fee of $469,000, and will reimburse $125,000 to DAHI for marketing expenses incurred to date.

The companies intend to enter a revenue-sharing formula for Canadian sales. DAHI said the product should be available through veterinarians in the first quarter. ...