Parkwalk Advisors and Cambridge Innovation Capital have backed the pet antibody therapeutics developer, a spinout of Wellcome Sanger Institute.
PetMedix, a UK-based pet-focused antibody treatment developer, closed a £27m ($37m) series B round yesterday that included patient capital fund Cambridge Innovation Capital (CIC) and Parkwalk Advisors, the fund management subsidiary of commercialisation firm IP Group.
Pharmaceutical and veterinary group Kyoritsu Holding and internet company Tencent also took part in the round, as did venture capital firm Digitalis Ventures.
Spun out of University of Cambridge-affiliated genetics research organisation Wellcome Sanger Institute in 2018, PetMedix is developing veterinary antibody therapies targeting medical conditions in dogs and cats including cancer and inflammation.
The cash will help the company advance its pipeline of pet care therapies, obtain regulatory approval for its pipeline, and expand into the US, European and Asian markets.
PetMedix had secured $10.6m in a 2019 round led by Digitalis Ventures and backed by Parkwalk Advisors. CIC subsequently injected an undisclosed sum in May 2020.
