PetMedix seeks sub-tenants after move to new Babraham and fresh investment
Animal health technology pioneer PetMedix has engineered a unique platform to develop fully species-specific, naturally-generated therapeutic antibodies to develop its own veterinary medicines to target some of the most important clinical areas.
PetMedix recent;y completed a move to a new 12,000 sq ft Cambridge HQ at Babraham Research Campus and is seeking tenants to sub-let space.
The startup is developing a new tier of monoclonal antibody therapy for the animal health market. It completed the move in one day into the new laboratory and office space.
PetMedix has also announced an undisclosed equity investment from Cambridge Innovation Capital that will be used to advance its ground-breaking antibody technology platform seeking to bring innovative medicines to companion pets.
This investment is the capstone to an exciting 12 months for the company. PetMedix has doubled in size, including a number of very experienced, PhD-level hires; moved into larger, purpose-built facilities in Cambridge, UK, a hotbed of therapeutic antibody research and development; and has begun its international expansion with the recruitment of the first employees in a new US subsidiary.
Over the last year, PetMedix has made excellent progress on its Ky9™ and Felyne™ platforms, and drug discovery is well underway. As the science advances, the team is growing and with it the need for space has increased.
The company has global ambitions and aims to work with international partners as a high priority. These advancements will form the basis of PetMedix’s transformation from biotechnology start-up to clinical-stage therapeutics company over the next few years.
As the first tenants to move into the BioMed Realty building, PetMedix now occupies a modern and well-equipped space that has been designed precisely to the company’s specifications.
As the business scales in the UK and globally, it will be from this site that PetMedix will continue to innovate and develop novel antibody therapeutics for the companion animal market.
CEO Dr Tom Weaver said: “This additional investment not only brings a knowledgeable and well-respected investor into our syndicate, but will support us in our ambitions to build a world-class animal health company.
“Our team have always worked hard and produced fantastic science, but the way they have gone above and beyond here is exceptional.
“We are a science-led company, but it is our people that make us who we are. PetMedix has ambitious plans that remain on track, and this move will help us maintain our trajectory of strong growth.”
There is an opportunity for companies looking to move into brand new premises to sub-let part of the sizeable footprint. A mix of laboratory and office space is included in the sub-let. Interested parties should email Michael Jones (michael.jones [at] cheffins.co.uk) for more information.
As part of the move, not all laboratory equipment was required at the new site. All functional equipment that was not moved has been donated to the NHS for use in COVID-19 research, including four laminar flow cabinets suitable for tissue culture.
Dr Robert Tansley, Partner at Cambridge Innovation Capital, added: “We are thrilled to be investing in one of the leading emerging animal health companies.
“We are hugely impressed by the quality of the science underpinning PetMedix’s differentiated platform and by the quality of the scientists leading the drug discovery and development programmes.”