Dechra Pharmaceuticals acquires Invetx
Novo Holdings’ portfolio company Invetx is set to be acquired by the international veterinary pharmaceuticals business, Dechra Pharmaceuticals. The deal is said to be up to $520 million in total and will be completed on a cash-free, debt-free basis.
Invetx specialises in creating protein-based animal health therapeutics to enhance veterinary medicine. Leveraging validated biotechnologies for human health, Invetx aims to treat various chronic and serious diseases in animals by creating species-specific, optimised, half-life extended monoclonal antibody (mAb) candidates.
Juergen Horn, Dr.med.vet., PhD, Chief Executive Officer and Co-Founder of 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.”
In 2022, Novo Holdings co-led Invetx’s Series B financing round. This allowed the Boston-based company to advance its mAb pipeline as well as pursue market approvals for its chronic and serious diseases work.
Marcus Remmers, Partner, Planetary Health Investments at 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.”