ViroVet successfully raises €5 million in series A funding
ViroVet NV, a leading Belgian biopharmaceutical company active in the development of innovative vaccines and antiviral drugs for livestock, is proud to announce that it has successfully concluded the first closing of its series A financing round, raising 5 million euro. The financing will be used to further develop and launch its veterinary product portfolio. The investment round was led by PMV (through Biotech Fund Flanders) and Agri Investment Fund, with participations from Gemma Frisius Fund KU Leuven, VIVES-Louvain Technology Fund and Aratana Therapeutics NV.
ViroVet pioneers in developing novel and innovative vaccines based on a unique proprietary technology platform originating from the Rega Institute for Medical Research of the University of Leuven. This technology platform has the potential to produce vaccines faster and more cost-effectively. These vaccines are tailor-made to maximize efficacy and minimize safety concerns. In addition, the vaccines are thermostable thereby removing any cold-chain requirement. ViroVet will pursue applications of this technology platform for both endemic and epizootic viral livestock diseases.
Erwin Blomsma, PhD, co-founder and CEO of ViroVet states that “with the first closing of our series A investment round, we can accelerate our research and development efforts and bring innovation to a sector that really needs it. Together with our research partners at the universities of Leuven (KUL) and Louvain-La-Neuve (UCL) and the seasoned team at ViroVet, we have all the ingredients to make a flying start.”
“Our holding in ViroVet enables us to invest in the animal health sector which presents a number of the challenges in the treatment of viral infections of livestock. ViroVet’s pioneer technology offers many technical and economic advantages and will also allow a reduction in the use of antibiotics, a sustainable impact in terms of eco-responsibility. We are convinced of the growth potential of the company based on breakthrough technologies – from KUL research -, the expertise of the founding team and the industry’s demand for innovative new products. This investment also contributes to strengthen our cooperation with European universities, thanks to a cross-fertilization in terms of creating spin-offs and research collaborations “says Philippe Durieux, CEO of VIVES II – Louvain Technology Fund.
Prof. Véronique Préat, Louvain Drug Research Institute: “We are very pleased to cooperate with a biotech company and look forward to develop innovative anti-viral formulations.”
ViroVet is a biopharmaceutical company with a clear objective to develop innovative technologies to improve the health and value of livestock. The company is headquartered in Heverlee near Leuven, Belgium and continues to build on the livestock assets and know-how that it has accumulated since 2008 while adding new products, including vaccines, to the pipeline.
Source: VivesFund Press Release