Swedish Animal Drug Maker Launches U.S. Subsidiary
Premune is making a serious push into the U.S. companion animal market.
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Premune, a Swedish veterinary drug company, is making a serious push into the U.S. companion animal market by establishing a U.S. subsidiary, Premune Inc., in New York.
Viktor Karlsson, CEO and cofounder of Premune AB, called the move "a significant milestone for our company as we continue building our global presence."
"Pet-related spending in the U.S. has increased for each of the last 20 years, making it one of the few industries immune to macroeconomic weakness," Karlsson said.
Premune develops treatments for allergies, inflammatory bowel disease and other immune disorders.
The company's global partnering, licensing and business development efforts will spring from the New York headquarters. Premune's core research and development team will remain in Sweden.
Premune Inc. is busy building an initial staff of about 10. A series of announcements is expected in the coming weeks, a spokesman said, as executive positions such as chief marketing officer and chief financial officer are filled.
The New York office is expected to open in June.
Among the products under development is one code-named PRE01, which, if approved, would be the world?s first preventive treatment for canine allergies, according to the company.
Premune has shown that delayed exposure to gut bacteria is a major risk factor for allergies in humans. Applying the finding to companion animal health is the basis for several products in the company's pipeline.
Other Premune products in the works are treatments for ear infections and intestinal conditions in cats and dogs.