PetMedix announces £8M Series A funding

PetMedix is applying 30 years of antibody research and the scientific work of two of its founders, Professor Allan Bradley FRS 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 recently raised £8 million in Series A funding and will use this to establish operations, grow the team, continue to build the platforms, and begin drug discovery. The investment was led by Digitalis Ventures (NYC) with Parkwalk Advisors (London) as their syndicate partner.

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 $14 Billion opportunity, and one that is already embracing the promise of veterinary biologics (protein-based drugs such as antibodies). 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 our 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. The complete and intact immune system of our platform leverages the full potential of the dog’s own natural antibody repertoire—a feat not possible with alternate technologies—to maximize the safety and efficacy of our products. From platform development through drug discovery, PetMedix is dedicated to applying the very latest technology to deliver the best antibody-based drug therapies possible for our pets.

“Digitalis is thrilled to be a part of this journey to bring these innovative therapies to market and excited to work with the talented team that has been assembled at Petmedix”

said Cindy Cole DVM, PhD, DACVCP and Technical Partner with Digitalis Ventures.

PetMedix will build its own pipeline of drug candidates and look to apply its experience and know-how to their successful development. The company is also actively exploring collaboration and partnership discussions, both domestically and internationally. For more information please contact CEO Tom Weaver (Tom@petmedix.co.uk)

About Digitalis

Digitalis is a venture capital firm that invests in solutions to complex problems in human and animal health. The firm partners with entrepreneurs, inventors, and scientists across all stages of venture investing, and its investments span the full continuum of the healthcare ecosystem. In addition to its healthcare activities, Digitalis manages the Companion Fund, the first venture capital fund to focus exclusively on innovations in pet care. Digitalis has offices in New York City, Boston, San Francisco, and Los Angeles. To learn more, please visit

http://www.digitalisventures.com/.

About Parkwalk

Parkwalk is a London-based independent investment management firm managing the leading EIS Growth Fund, with a portfolio focused on companies spun out from the UK’s leading universities and other research-intensive institutions to develop and commercialise relevant new technology. It currently has an active portfolio of over 80 companies and has invested, since inception, around £200m in the asset class.

Parkwalk has won multiple awards, including Investment Week ‘Best EIS Fund‘ 2015/16 and ‘Best EIS Generalist‘ award 2016/17; the Growth Investor ‘Best Exit 2015‘ and the EIS Association ‘Best Fund Manager2016, 2017’, ‘Best Exit of 2016‘ and ‘Best Exit of 2014‘ awards, and has been named by both Crunchbase and Ascendant as one of the UK’s top 10 most active technology investors annually since 2014.Global University Venturing declared Parkwalk the most active investor in global University spin-out investing in the first half of 2018.

www.parkwalkadvisors.com