Tech

Cambridge-based Pet Medix has raised £ 27m to revolutionize pet healthcare

While they have come up with ways to improve drug discovery and cure their illness, pet progress has been significantly reduced.However, a Cambridge-based startup PetMedix We are working hard to develop new ways to invent drugs that can help relieve the illness of our pet companion. The company has now raised a remarkable £ 27m in a Series B funding round.

Financing details

PetMedix’s latest funding round was led by Digitalis Ventures and the UK funded Parkwalk Advisors. In addition, Tencent and Japanese company Kyoritsu Holdings also participated with Cambridge Innovation Capital. Startups say this latest round of funding will enable them to move from R & D to clinical international organizations.

In a conversation with UKTN, Pet Medix co-founder Jolyon Martin said: We recently announced our first dog trial using one of our antibodies and were thrilled with the results. In the tech world, this will be our MVP or a very early beta. ”

However, there are still clinical trials and regulatory processes that the company must pass, and the manufacture of each drug it develops must also be set up. The startup currently consists of 40 people, almost all of whom are scientists in the Cambridge lab. The company expects the team to grow further in the coming years.

Innovative products

PetMedix is ​​a UK-focused biotechnology company founded in 2018. Spinning out of Professor Allan Bradley’s lab, he holds a PhD in his student and now Pet Medix co-founder Jolyon Martin. The company is developing the first fully species-specific therapeutic antibodies for dogs and cats.

The company’s Ky9 and Felyne transgenic platforms are used to generate antigen-specific antibodies. According to PetMedix, they produced over 50,000 fully canine antigen-specific antibodies. This helps ensure that only high quality treatment candidates go to the clinic.

To reach this point, startups had to face significant challenges. According to Martin, the key challenge is to break through the new scientific foundations of a young company. “Our scientists often had to invent entirely new technologies and solutions to achieve our technical goals,” he says. When it comes to rivals, some players are still a bit far from introducing their work on antibodies. Major players such as Elanco and Merck are one of them. Meanwhile, Zoetis has already launched therapeutic antibodies.

Future etc.

The global pet drug market is estimated to be worth $ 17 billion and is growing 10% annually. With these innovations happening in the field of pet healthcare, we are trying to understand what lies ahead in the future of this sector.

“Several great companies are already working on it. DNA test, Gene therapy When Cell therapy“He concludes. Martin hopes that all the scientific and medical advances we have made for human health will eventually reach animal health.



Cambridge-based Pet Medix has raised £ 27m to revolutionize pet healthcare

Source link Cambridge-based Pet Medix has raised £ 27m to revolutionize pet healthcare

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