InnoVet Inc., which develops products for animal health care, saidTuesday it has secured a $950,000 loan and has sold the first of threesubsidiaries to help the company keep operating through next year.Scott Cielewich, InnoVet's executive vice president and chief financialofficer, said the loan and divestitures are part of the company's effortsto refocus its resources on research and development of immunestimulants, such as IVET-629, and sex selection technology for thelivestock industry.Cielewich said InnoVet, of West Palm Beach, Fla., received the$950,000 loan from a U.K.-based investment firm, which he declinedto identify. He also would not reveal the terms of the sale of thesubsidiary, DRA & Associates, of Lenexa, Kan. The company wassold to its former owner.Cielewich said InnoVet is in the process of negotiating sales of twoother subsidiaries, Brooks Feeds, of Swanton, Vt., and CambridgeVeterinary Sciences, of Cambridge, England."We're going back to our beginnings," Cielewich said, adding that theloan will enable InnoVet to concentrate on seeking approval with theU.S. Department of Agriculture for IVET-629, which is designed as animmune stimulant for treatment of horses with chronic respiratorydiseases of mixed viral and bacterial origin. He said the drug currentlyis in the latter stages of trials. Those studies began in 1992. _ CharlesCraig

(c) 1997 American Health Consultants. All rights reserved.