PetMedix and Zoetis partner to develop species-specific antibody therapies for pets
PetMedix, a leader in discovering species-specific therapeutic antibodies for pets, announced that it has been acquired by Zoetis, the world’s number one 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 centre 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 largest animal health pharmaceutical company. Zoetis is an ideal partner for us, innovation is their number one focus, and this aligns 100% with our approach. Zoetis were 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.
Commercially, Zoetis’ market-leading expertise in developing, manufacturing and commercialising innovative medicines means that PetMedix’s rich portfolio of transformative monoclonal antibodies will achieve regulatory approval in global markets more quickly, and so make a real difference in pet’s lives. 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, “The acquisition of PetMedix by Zoetis has important implications beyond simply acquiring our technology. The trade sale demonstrates that animal health innovation is alive and well and is an attractive investment opportunity for the venture community, representing a significant RoI. Also, the fact that Zoetis is now joining Europe’s most successful innovation hub means that the UK and Europe will directly benefit from having a welcome injection of investment and expertise in animal health research and development by a proven leader. Together, we intend to advance a “one-health” approach to our research which is so important for both animal and human health alike.”
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