Mileutis Ltd., a Ness Ziona, Israel – based Israeli biopharmaceutical company focused on mitigating the use of antibiotics in animals, signed a $20m product financing agreement with NovaQuest Capital Management.
The deal will drive the continued development and commercialization of Mileutis’ novel, biologically sourced, and residue-free therapies for animal health. The company is in advanced stages of development in the U.S., EU, and Israel of an innovative product which addresses bovine mastitis, the most frequent disease in dairyherds worldwide, and the most costly.
Led by David Javier Iscovich, CEO and co-founder, Mileutis is developing and commercializing natural peptides for animal and human health. The company uses its platform to develop novel, protein-based therapeutics, acting independently and through strategic partnerships. The company’s biopharmaceutical products are focused on chronic and infectious diseases, in order to enable significant reductions in antibiotic use in human and animal health management.
It plans to introduce Imilac™, for use in the management, treatment, and prevention of bovine mastitis at dry-off, with estimated potential annual revenue of above $1 billion globally. .
The first line of products is comprised of peptides and specific protein fragments that have a positive impact on conditions that influence health and reduce antibiotic use in animal health management.