Nutraceutix sells feed additive business
manufacturer Nutraceutix Inc. said this week it has sold its feed
In a bid to focus on probiotics and drug delivery, nutraceutical manufacturer Nutraceutix Inc. said this week it has sold its production rights for Micro-Cell® direct-fed animal health products to Lallemand Animal Nutrition, North America, a subsidiary of Lallemand Inc.
Under terms of the agreement, Nutraceutix has sold its rights to produce Micro-Cell® microbial beef feed additive. Nutraceutix retains the intellectual property rights and production of its Cobactin® microbial feed additive product, while Lallemand Animal Nutrition will have the exclusive rights to distribute the product. Additional terms of the agreement were not disclosed.
According to David Howard, president & chief executive officer of Nutraceutix Inc., "This agreement allows Nutraceutix to focus on its core business strategy, which has changed considerably with new intellectual property in both our drug delivery and probiotic businesses.
"We are now better able to concentrate on business opportunities aligned with our core competencies and growing intellectual property position."