MabGenesis raises millions for pet therapeutics
The Japanese pharma company announced it has raised a significant sum to boost in-house research.
Several high-profile investors have poured in ¥470 million ($3M/€2.9M) into supporting the biotech firm headquartered in Yokohama, 32 km southwest of the capital metropolis of Tokyo.
Various venture capitalists, including Axil Capital Partners, REVIC Capital, Long Black Partners and Miyazaki Taiyo Capital, underwrote the company’s fundraising efforts.
The capital injection will be used to develop antibody treatments for aging pets, which could include a range of conditions from joint problems to artery disease. The company aims to commercialize these veterinary therapeutics, but the timeline is unclear.
Treatments for dog and cat arthritis and autoimmune issues are furthest along in the development pipeline, with some of the firm’s therapies in pre-clinical trials.
State of play
MabGenesis says it’s currently working on developing therapies using feline and canine antibodies.
Founded in 2019, MabGenesis specializes in antibody drug research and aims to produce solutions for autoimmune diseases and cancers. It’s a cutting-edge front in the fight against chronic and terminal illnesses for humans, but the company has also diversified by working on treatments for pets.
As pet humanization continues to spread globally, the biotech industry is seeing money pour in. California-based NovoNutrients and Digestiva, for example, recently raised $36 million (€34.6M) to continue developing alternative protein sources for pet food.
Biotech is an expensive endeavor, partly because it faces unique regulations. For example, a Finnish company working on a similar protein project recently sought approval from European regulators to use its mycoprotein in pet food.
See more veterinary pharma investments covered by GlobalPETS.
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