PetMedix, a leader in discovering species-specific therapeutic antibodies for pets, announced that it has been acquired by Zoetis, the world’s leading animal health company. Both parties have collaborated since 2022 with respect to antibody discovery. In addition to successful research collaborations, PetMedix’s proprietary drug development activities have led to a promising and large portfolio of antibody drug candidates targeting areas of unmet clinical need in both chronic and terminal diseases affecting dogs and cats. Located at the heart of Europe’s most successful biotechnology cluster, PetMedix will continue operations and act as one of Zoetis’ innovation hubs, providing a center of research excellence to harness advances in basic and translational research and drive the creation of new treatments for animal disease.
“Today marks a new milestone as PetMedix joins forces with Zoetis, the world’s leading animal health pharmaceutical company. Zoetis is an ideal partner for us, innovation to bring new solutions to their customers is their number one focus, and this aligns 100% with our approach. Zoetis was the first animal health company to appreciate the power of monoclonal antibody therapy, a technology that was created in Cambridge and has transformed human health. Through their vision and focus on the best science they were the first to launch successful mAb therapeutics to treat chronic diseases in companion animals. Zoetis’ market-leading expertise in developing, manufacturing, and commercializing innovative medicines will help PetMedix’s rich portfolio of transformative monoclonal antibodies progress more quickly towards regulatory approvals in global markets and make a real difference in the lives of pets and their owners. That is the whole point of our company,” commented Dr. Tom Weaver, co-founder and CEO of PetMedix. “I couldn’t be prouder of the PetMedix team’s accomplishments. Since our first financing in 2019, our mission has been to elevate expectations in pet care, and we have now taken huge strides towards that goal.”
“As the world leader in animal health, we are always exploring business development and external innovation activities that can complement our internal research and development capabilities,” said Rob Polzer, Executive Vice President and President of Research and Development at Zoetis. “Adding PetMedix to our R&D organization brings in unique platforms that may accelerate our research and portfolio to potentially help us address our customers’ unmet needs in oncology, inflammatory diseases and other areas, and we are excited about the possibilities ahead.”
Dr. Weaver added, “This acquisition shows that animal health innovation is alive and well and an attractive investment opportunity for the venture community. In addition, the UK and Europe will directly benefit from an injection of investment and expertise in animal health research.”
Stifel acted as the exclusive financial advisor to PetMedix in this transaction.
About PetMedix
PetMedix is a Cambridge, UK based biotech company with the mission to create a healthier future for our pets by giving them the therapies they need and deserve. The company has established two leading transgenic mouse technology platforms for the in vivo and de-novo identification of species-specific antibody drug candidates with optimal functionality, developability and low risk of immunogenicity. Both technologies, Ky9TM and FelyneTM, can be used to generate therapeutic quality antibodies immediately and without the need for complex protein engineering steps, enabling the selection of drug candidates against a broad range of diseases affecting dogs and cats, respectively. Learn more at petmedix.com and connect with us on Twitter, LinkedIn, Facebook and Instagram.
About Zoetis
As the world’s leading animal health company, Zoetis is driven by a singular purpose: to nurture our world and humankind by advancing care for animals. After innovating ways to predict, prevent, detect, and treat animal illness for more than 70 years, Zoetis continues to stand by those raising and caring for animals worldwide – from veterinarians and pet owners to livestock farmers and ranchers. The company’s leading portfolio and pipeline of medicines, vaccines, diagnostics and technologies make a difference in over 100 countries. A Fortune 500 company, Zoetis generated revenue of $8.1 billion in 2022 with approximately 13,800 employees. For more information, visit www.zoetis.com.
