Novo Holdings today announces it has participated in a $60.5 million oversubscribed Series B financing in Boston-based Invetx, a pioneer in protein-based therapeutics for companion animal health.
The financing allows the Company to advance its monoclonal antibody (mAb) pipeline and pursue market approvals for therapeutics targeting chronic and serious diseases in dogs and cats.
Since its inception in 2018, Invetx has built an integrated, best-in-class discovery, development, and commercial manufacturing platform to create fully species-specific, optimised and half-life extended product candidates. By leveraging validated biotechnologies from human health and optimising 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 across various therapeutic areas. The Company expects to progress multiple candidates into development with first product approvals anticipated as early as 2025.
Kartik Dharmadhikari, Partner at Novo Growth, Novo Holdings, said:
“We are very impressed with the platform and pipeline Invetx has assembled, and we believe the Company is well-positioned to address several under-served needs in companion animal health. We are excited to join Invetx in its mission to improve animal health and quality of life as well as to invest into this rapidly growing sector.”
Novo Holdings is a world-leading healthcare and life sciences investor with a focus on creating long-term, sustainable value. Headquartered in Copenhagen with offices in San Francisco, Boston, London and Singapore, Novo Holdings has a portfolio of more than 150 companies. The investment in Invetx is Novo Holdings first-ever investment in therapeutics addressing companion animal health.
Juergen Horn, PhD, Chief Executive Officer at Invetx, said:
“With a strong focus on long-term growth and deep knowledge about the entire life science value chain, Novo Holdings is a well-suited addition to our top-tier investor syndicate. We are looking forward to joining forces to bring treatments to the market that can improve the health of beloved pets all over the world.”
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.
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, Novo Holdings, Google Ventures, 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.
About Novo Holdings A/S
Novo Holdings A/S is a private limited liability company wholly owned by the Novo Nordisk Foundation. It is the holding company of the Novo Group, comprising Novo Nordisk A/S and Novozymes A/S, and is responsible for managing the Novo Nordisk Foundation’s assets.
Novo Holdings is recognized as a leading international life science investor, with a focus on creating long-term value. As a life science investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets. Further information: www.novoholdings.dk.
Marie-Louise Jersin, Senior Communications Partner, +45 3049 4957, [email protected]