Nexvet Biopharma Builds Drug-Development Fund

Investors poured $31.5 million into the coffers of veterinary drug developer Nexvet Biopharma, an Australian company that is researching medications that could be used to treat feline and canine pain and canine atopic dermatitis.


Published:

Nexvet Biopharma is headquartered in Melbourne, Australia.

Investors poured $31.5 million into the coffers of veterinary drug developer Nexvet Biopharma, an Australian company that is researching medications that could be used to treat feline and canine pain and canine atopic dermatitis.

The closing of the Series B, or second, round of financing was announced Wednesday.

The proceeds are intended to assist Nexvet's work on monoclonal antibodies (mAbs), or identical copies of antibodies, and expand the company's product line and U.S. operations.

In development are drugs code-named NV-01, NV-02 and NV-06/08. They are designed to treat, respectively, canine pain, feline pain and chronic inflammatory diseases in dogs, such as atopic dermatitis.

Pivotal trials are scheduled over the next 18 months for all three indications.

A placebo-controlled study of a single injection of NV-01 in osteoarthritic dogs demonstrated four weeks of sustained pain relief and no adverse events, the company reported.

Addressing shareholders and new investors, Nexvet CEO Mark Heffernan said the funding "serves as a major milestone, allowing us to expand our research and development team and greatly aiding our work to make mAbs available for the global companion animal health market, where there remains a large unmet medical need."

Nexvet's proprietary PETisation platform technology translates monoclonal antibodies between any species in a single step, according to the company.

Archive »Read More

NCSU to Host 23nd Annual Dog Olympics Sept. 13

The aim of the event is to celebrate the human-animal bond and raise money for local animal rescue groups.

Michigan State University Co-Hosts 10th Annual Marek’s Disease Symposium

MSU and the USDA’s Avian Disease and Oncology Laboratory recently co-hosted a symposium on Marek’s disease and avian herpesvirus.

Too Many Veterinarians, or a Bubble Market?

How can a scientifically trained profession keep ignoring the facts of too many graduates chasing too few jobs with an ever increasing debt burden?

Add your comment:

Events


Show More...