ARM Innovation Hub
Advertisement: Mogrify
Advertisement: Innova Systems
RealVNC mid-banner general
Advertisement: China mid banner
Mid banner advertisement: BDO
Advertisement: Simpsons Creative
Advertisement EY mid banner
RealVNC mid banner careers
Advertisement: Cambridge Network
Barr Ellison Solicitors – commercial property
Advertisement: RSM
Advertisement: EBCam mid banner
14 March, 2019 - 21:19 By Tony Quested

Animal magic as Cambridge pet therapeutics startup eyes $14bn market

canstock dog

A Cambridge pet therapeutics business targeting a $14 billion market opportunity has raised £8 million Series A funding from co-investors  Parkwalk Advisors and Digitalis Ventures. 

PetMedix is applying 30 years of antibody research and the scientific work of two of its founders, Professor Allan Bradley and Dr Jolyon Martin, to develop new pet therapeutics against a wide range of diseases. 

Led by founder and CEO, Dr Tom Weaver, PetMedix has raised the capital to grow operations and the team, and begin drug discovery.

Weaver is ex-CEO of Congenica and Bradley the emeritus director of the Wellcome Trust Sanger Institute and one of the brains behind antibodies powerhouse Kymab.  

Antibody therapeutics have been transformative in human medicine, treating a wide range of diseases including cancers, autoimmune diseases and inflammatory conditions. 

The companion animal therapeutics market represents a massive global opportunity and one that is already embracing the promise of veterinary biologics. 

There are currently only a few veterinary biologic products on the market but regulators, purchasing groups, insurers, veterinarians, and owners have all been highly receptive to them and demand continues to grow. 

PetMedix intends to realise this potential for veterinary medicine and give veterinarians, owners – and pets – the therapies they need to treat the conditions causing the most harm.

PetMedix is built from the same world-leading transgenic technology that underpins the most successful and advanced human antibody platforms available today.

Moray Wright of Parkwalk Advisors says: “Parkwalk are excited to be involved in bringing these innovative therapies to market and thrilled to work with the talented team that has been assembled at PetMedix.”

• Picture (c) Can Stock Photo / fantasista

Newsletter Subscription

Stay informed of the latest news and features