Cambridge Innovation Capital (CIC), is pleased to announce it has invested in PetMedix, a Cambridge, UK-based biopharmaceutical company developing antibody-based therapeutics for companion animals.

PetMedix has developed an innovative platform for the creation of naturally generated, fully species-specific therapeutic antibodies, enabling the discovery of its own veterinary medicines to target some of the most important clinical areas in animal health. The funding provided by CIC will be used to further the development of PetMedix’s unique platform and pipeline, and CIC is delighted to be supporting the Company’s exciting growth transition from biotechnology start-up to clinical-stage animal health company.

Dr Tom Weaver, PetMedix CEO, said: “We are delighted with our progress to date. Our platforms continue to improve and drug discovery is well underway. This additional investment not only brings a knowledgeable and well-respected investor into our syndicate, but will support us in our ambitions to build a world-class animal health company.”

Robert Tansley, Partner at CIC, commented: “CIC is thrilled to be investing in one of the leading emerging animal health companies. We are hugely impressed by the quality of the science underpinning PetMedix’s differentiated platform, and by the strong team leading their discovery and development programmes. These are challenging times for all sectors, but innovation in Cambridge remains robust in its ability to adapt and thrive in unprecedented circumstances, as exemplified by the work of PetMedix, and our team continues to offer its full support to these businesses.”