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.