Bayer Animal Health and Paraco Technology today announced that they have signed an option agreement allowing Bayer access to Paraco's lead molecules for testing and development in animal health.

Paraco Technology, a subsidiary of AgResearch, is a start-up biotech company looking to develop new animal health drug molecules, specifically dealing with parasiticides.

Both companies see the partnership as a way of continuing their tradition of providing research and products to the field of animal health.