Nexvet Biopharma, a Melbourne, Australia-based veterinary biologic drug developer, closed a US$31.5m Series B round of financing.
Backers included Farallon Capital Management, LLC, Adage Capital Partners, L.P, Foresite Capital, and Tavistock Life Sciences subsidiary fund Boxer Capital, LLC, and existing shareholders.
The company intends to use the funds to advance its clinical programs in monoclonal antibodies in companion animal health, and expand its product pipeline and U.S. operations.
Led by Dr. Mark Heffernan, Chief Executive Officer, Nexvet leverages proprietary PETisation™ platform technology to build a pipeline currently consisting of product candidates for canine pain, feline pain and canine inflammation. PETisation™ aims to translate monoclonal antibodies (mAbs) between any species in a single step, enabling the company to develop a portfolio of 100% species-specific monoclonal antibody therapies.
28/10/2013: Nexvet Biopharma Raises AUD$7M in Capital