by Veterinary Practice News Editors | May 22, 2014 3:07 pm
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Four animal health veterans have formed a start-up company dedicated to the development of veterinary drugs for companion and production animals.
The new company, Provetis, is headquartered in St. Louis and is working with TetraGenx, an established Montreal research and development company, on the first five products.
The Provetis team is led by:
• CEO Brad Butler, who also oversees the animal health company Creative Science LLC. He is the former chief operating officer of Ceva Animal Health's U.S. division.
• Chief operating officer and product development director Kevin McDonnell, the founder and president of TetraGenx.
• Chief scientific officer Hosein Hojabri, Ph.D., a TetraGenx vice president.
• Executive director of special projects Radek Romanowski, DVM. He founded the Canadian animal health company imRex Inc.
The relationship with TetraGenx is key, Butler said.
"Provetis will access and use the capabilities of TetraGenx and its 40 employees, state-of-the-art facilities and track record of producing impressive revenue," he added.
Five products in the pain, antibiotic and parasiticide categories are under development, Provetis reported.
"In addition, the company is progressing and developing products for horses," Provetis noted. "Certain projects are in advanced stages, including achieving bioequivalence in a palatable formulation."
Butler predicted fast growth for Provetis.
"By late 2015, we expect to launch the first product and forecast revenue up to $20 million in 2016," he said.
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