Invetx Announces Oversubscribed Series B Financing of $60.5 Million to Advance Portfolio of Best-in-Class Veterinary Biotherapeutics
Company positioned to bring portfolio of novel antibody product candidates through development to market approval
Round includes new investors F-Prime Capital, Novo Holdings, GV and Eight Roads
BOSTON--(BUSINESS WIRE)-- Invetx, a pioneer in protein-based therapeutics for animal health, today announced that it has raised $60.5 million in an oversubscribed Series B financing. The investment was led by F-Prime Capital, Novo Holdings, GV (formerly Google Ventures) and Eight Roads, with participation from existing investors Anterra Capital, Casdin Capital and funds managed by Tekla Capital Management, LLC. The proceeds allow the company to advance its monoclonal antibody (mAb) pipeline and pursue market approvals for therapeutics targeting chronic and serious diseases in dogs and cats.
“With the support of several top-tier investors in this latest financing, Invetx is well-capitalized to continue advancing its novel veterinary products towards approval and commercialization. We have demonstrated rapid progress validating our unique mAb platform and built a rich product pipeline with several programs in the pilot phase and a first product candidate being tested in a clinical field study,” said Juergen Horn, PhD, chief executive officer, Invetx. “This financing is a key milestone for Invetx and one that demonstrates the strong commitment of our investors to biotechnology innovation in animal health.”
“We believe there is a significant investment opportunity in animal health, particularly in the rapidly growing companion animal sector,” said Jessica Alston, PhD, partner at F-Prime Capital. “We have been impressed by Invetx's platform, product pipeline and experienced team, and think the company is well-positioned to take a leadership role in the novel veterinary biotherapeutics space.”
Since its founding in 2018, Invetx has built an integrated, best-in-class discovery, development, and manufacturing platform to create fully species-specific, optimized and half-life extended product candidates. By leveraging validated biotechnologies from human health and optimizing them for application in veterinary medicine, Invetx can generate differentiated antibodies to treat a wide variety of chronic and serious diseases in animals. Invetx has a broad pipeline of biotherapeutics in various therapeutic areas and expects to advance multiple candidates in development with product approvals anticipated potentially as early as 2025. In addition, Invetx has established a discovery, development, and commercialization partnership with Boehringer Ingelheim to pursue novel programs in addition to its own product portfolio. Invetx has also expanded its collaborations with AbCellera, Twist Bioscience and Wuxi Biologics.
Solebury Capital served as placement agent for the offering.
Invetx is a pioneer in creating novel, protein-based animal health therapeutics to transform standards of care in veterinary medicine. The company leverages a best-in-class, fully integrated biotechnology platform for the discovery, development, and manufacturing of veterinary monoclonal antibodies, and is developing a diverse product pipeline addressing chronic and severe diseases in the veterinary species.
Invetx has raised $86 million since 2018, including investors F-Prime Capital, Novo Holdings, GV, Eight Roads, Anterra Capital, Casdin Capital and funds managed by Tekla Capital Management, LLC. Strategic investment partners include AbCellera, a global technology company specializing in antibody discovery located in Vancouver, BC, and WuXi Biologics, a global company with leading biologics technology platforms. Invetx is a private company headquartered in Boston, Massachusetts. For more information, see www.invetx.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220510005369/en/
Invetx Partners and investors:
Juergen Horn, PhD
Chief Executive Officer