US-based animal medicine developer Invetx secured $15m yesterday in a series A round that included drug discovery technology provider WuXi Biologics.
The round was led by Anterra Capital, a growth equity fund backed by banking firm Rabobank and investment and financial services firm Fidelity, that participated in the round having been Invetx’s founding investor.
Invetx is looking to harness protein-based therapeutics and vaccines for use by veterinarians, both on pets and on livestock. It is targeting cancer and diabetes in addition to pain and allergies.
The startup has formed a partnership with WuXi Biologics that will involve it accessing the corporate’s manufacturing capabilities, in addition to an animal health collaboration with antibody discovery services provider AbCellera.
Juergen Horn, Invetx’s CEO, said: “We have built a foundational network of first-in-class global partners to deliver that translation and develop a sustainable platform for veterinary biopharmaceutical innovation.
“This financing will support rapid growth on multiple fronts, including bringing our first pet antibody therapeutic into clinical studies in 2020, expansion of our team and substantial preclinical development across our pipeline.”
Image courtesy of Invetx.
