Dechra Pharmaceuticals Limited reached agreement in principle to acquire 33.34% stake in STEM Animal Health Inc. for $4.7 million on April 11, 2024. Completion of the transaction requires the consent of more than 50% of the shareholders of Kane Biotech. STEM reported revenue of CAD 2.67 million ($2.02 million), loss from operations of CAD 0.73 million ($0.55 million) and net loss of CAD 0.71 million ($0.54 million) for the year ended December 31, 2023. Ben Maddison, Nick Adams, Nick Harland and Francis North of Stifel Nicolaus Europe Limited acted as financial advisor to Animalcare Group plc. As of April 12, 2024, Dechra Pharmaceuticals Limited signed share purchase agreement to acquire 33.34% stake in STEM Animal Health Inc.

Dechra Pharmaceuticals Limited completed the acquisition of 33.34% stake in STEM Animal Health Inc. on April 15, 2024.