- Transaction values animal health therapeutics pioneer at up
to $520 million
- Novo Holdings co-led Invetx Series B financing round in
2022
BOSTON, July 18,
2024 /PRNewswire/ -- Novo Holdings A/S, a
leading international life sciences investor, today announced that
its portfolio company, Invetx, has agreed to be acquired by Dechra
Pharmaceuticals Limited ("Dechra"), an international veterinary
pharmaceuticals business, for up to $520
million in total consideration on a cash-free and debt-free
basis.
Invetx is a pioneer in creating novel, protein-based animal
health therapeutics to transform standards of care in veterinary
medicine. With its best-in-class, fully integrated discovery
development and commercial manufacturing platform, Invetx leverages
validated biotechnologies for human health to create
species-specific, optimized and half-life extended monoclonal
antibody (mAb) candidates to treat a wide variety of chronic and
serious diseases in animals.
Novo Holdings co-led Invetx's Series B financing round in 2022,
which enabled Invetx to advance its mAb pipeline and pursue market
approvals for therapeutics targeting chronic and serious diseases
in dogs and cats. This investment reflects Novo Holdings' strong
track record of investing in and nurturing the development of
innovative life sciences companies that are at the forefront of the
development of cutting-edge solutions. Invetx was incubated by
Anterra Capital, a Boston and
Amsterdam based venture capital
firm focused on investments in animal health and agrifood
innovation.
Marcus Remmers, Partner,
Planetary Health Investments, Novo Holdings, said: "We're proud
to have supported the Invetx team over the past two years and look
forward to following their continued growth and success as they
advance their promising pipeline. Invetx shares our passion for
innovation and impact, and this milestone is a testament to
Invetx's market opportunity and the strength of its innovative,
sector-defining offering."
Juergen Horn, Dr.med.vet.,
PhD, chief executive officer and co-founder, Invetx, said: "We
are grateful to Novo Holdings for the invaluable guidance and
support their Planetary Health team has provided Invetx. Through
our partnership, we have made significant progress in advancing our
pipeline of protein-based therapies to improve outcomes for pets
and are well on our way to redefining possibilities in veterinary
care. As a global leader in veterinary medicine, Dechra is an ideal
partner for our next chapter and fully aligned with our vision to
shape the next generation of animal care."
About Novo Holdings A/S
Novo Holdings is a holding and investment company that is
responsible for managing the assets and the wealth of the Novo
Nordisk Foundation. The purpose of Novo Holdings is to improve
people's health and the sustainability of society and the planet by
generating attractive long-term returns on the assets of the Novo
Nordisk Foundation.
Wholly owned by the Novo Nordisk Foundation, Novo Holdings is
the controlling shareholder of Novo Nordisk A/S and Novonesis A/S
and manages an investment portfolio with a long-term return
perspective. Novo Holdings is a world-leading life sciences
investor. Through its Seed, Venture, Growth, Principal Investments,
Planetary Health Investments and Asia teams, Novo Holdings invests directly in
life science companies at all stages of development. In addition,
it manages a broad portfolio of Capital Investments, including
equities, bonds, fixed income, real estate, and infrastructure
assets.
As of year-end 2023, Novo Holdings had total assets of
EUR 149 billion.
www.novoholdings.dk www.novoholdings.dk
About Invetx
Invetx is a pioneer in creating novel, protein-based animal
health therapeutics to transform standards of care in veterinary
medicine. The company leverages a best-in-class, fully integrated
biotechnology platform for the discovery, development, and
manufacturing of veterinary monoclonal antibodies, and is
developing a diverse product pipeline addressing chronic and severe
diseases in companion animals.
Invetx has raised $86 million
since 2018, including investors F-Prime Capital, Novo Holdings, GV,
Eight Roads, Anterra Capital, Casdin Capital and funds managed by
Tekla Capital Management, LLC. The company has strategic
partnerships with Boehringer Ingelheim, a global leader in animal
health, AbCellera, a global technology company specializing in
antibody discovery, Twist Bioscience, a leading and rapidly growing
synthetic biology and genomics company, and WuXi Biologics, a
global company with leading biologics technology platforms.
Invetx is headquartered in Boston,
Massachusetts. For more information, see www.invetx.com.
About Dechra
Dechra is a global specialist veterinary pharmaceuticals and
related products businesses. Dechra's expertise is in the
development, manufacture, and sales and marketing of high quality
products, exclusively for veterinarians, to support the sustainable
improvement of animal health and welfare worldwide. For more
information, please visit: www.dechra.com
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SOURCE Novo Holdings