Exclusive in-licensing agreement with Vaxinano

ECO Animal Health Group plc (AIM: EAH), a leading global animal health company developing and marketing branded veterinary products to improve livestock productivity and welfare, announces that it has signed a perpetual exclusive licence agreement with Vaxinano SAS, a biotechnology company pioneering the development of prophylactic and therapeutic vaccines, for Vaxinano's sheep vaccine candidate against toxoplasmosis. The licence is for all important sheep rearing markets worldwide and the technology has patent protection.

The licence will enable ECO to complete the development of and commercialise the late-stage vaccine candidate for the prevention of reproductive failure caused by Toxoplasma gondii in all key commercial markets. Toxoplasmosis is a well‑recognised disease in sheep and can cause significant economic losses through abortion, stillbirth and the birth of weak lambs.

Under the terms of the agreement, ECO will pay Vaxinano a modest upfront licence fee and a future development milestone payment as well as future royalty payments based on commercial product sales. The investment requirements will be funded from operating cashflow in line with the Company's existing R&D plans. No increased R&D expenditure is envisaged and the upfront licence fee is accommodated within this financial year's R&D budget. Given the candidate's advanced stage of development and the Company's existing comprehensive commercial and distribution infrastructure, management believes the product offers a de-risked, accelerated pathway to market entry. With estimated peak annual sales of approximately £10 million in UK and Europe alone, the product is expected to make a meaningful contribution to the incremental earnings from the Company's growing vaccine portfolio.

David Hallas, CEO of ECO Animal Health, said: "This agreement with Vaxinano is an exciting step forward for ECO, strengthening our position in livestock vaccines, complementing our new and growing vaccines franchise and aligning with the focus of our internal R&D portfolio in preventative animal health, in line with our investment plans.

"Toxoplasmosis is a major cause of reproductive losses in sheep and other species and we believe this programme offers an attractive and efficient opportunity to deliver a competitive new vaccine to market, with a development and commercial roadmap that fits our focus on preventative veterinary products and aligns with our existing infrastructure. The licence also provides ECO with the potential to build additional livestock vaccines over time.

"We look forward to working closely with Vaxinano as we progress development and advance this asset through a clear and swift pathway to commercial revenues."

This programme further demonstrates ECO's commitment to strengthening its presence in the veterinary vaccine sector and providing alternatives to antibiotics and promoting sustainable livestock production. The Company's first vaccine from its proprietary R&D pipeline, ECOVAXXIN® MS, was commercially launched in the EU in July 2026.

About Vaxinano

Vaxinano is a French biotech company developing needle-free vaccines for unmet needs in infectious disease. Its STELLAR-NP™ platform carries antigen across the nasal mucosa on biosourced nanoparticles, without an adjuvant and without refrigeration - making vaccines simpler to administer and easier to distribute worldwide. In line with the One Health approach, Vaxinano has built a portfolio of prophylactic and therapeutic mucosal vaccines against zoonoses, including leishmaniasis, toxoplasmosis and colibacillosis, protecting humans, livestock and pets, and endangered species through its WildVax conservation programme.