Dechra Pharmaceuticals Limited, a global specialist in veterinary pharmaceuticals, has announced its agreement to acquire Invetx Inc., a leader in protein-based therapeutics for animal health, for up to $520 million.
The acquisition is subject to antitrust approval and customary closing conditions.
Juergen Horn, CEO and co-founder of Invetx, expressed enthusiasm about the merger, stating, “We are thrilled to be joining forces with Dechra Pharmaceuticals, a global leader in animal health. Our pipeline of monoclonal antibody therapeutics for chronic, serious diseases in cats and dogs is highly complementary to Dechra’s broad portfolio of speciality therapeutics for companion animals and accelerates Dechra’s differentiated position in the veterinary health industry.”
Enhancing Veterinary Therapeutics
Dechra will gain access to Invetx’s innovative species-specific, half-life extension platform. This technology extends the duration of drug activity, enabling longer intervals between treatments and offering greater convenience and improved compliance for veterinarians, pet owners, and their pets. Jesper Nordengaard, CEO of Dechra, commented, “Invetx’s ability to develop veterinary biotherapeutics with an extended duration of effect and longer inter-dosing intervals represents a significant innovation in animal health.”
The acquisition will deepen Dechra’s expertise in core therapeutic areas such as atopic dermatitis and osteoarthritis, allowing for synergistic product development, sales, marketing, and education efforts. Invetx’s integrated platform includes advanced antibody discovery technology, optimization, development, and manufacturing for veterinary biotherapeutics.
Invetx’s Growth and Support
Invetx, initially incubated by Anterra Capital, has raised $86 million since 2018 from investors including F-Prime Capital, Novo Holdings, GV, Eight Roads, Anterra Capital, Casdin Capital, and funds managed by Tekla Capital Management, LLC. Phil Austin, managing partner and co-founder of Anterra Capital, noted, “The exit of Invetx is an exceptional outcome not only for the stakeholders in the company but also for the broader start-up community and the animal health industry. Invetx is a great example of how start-ups can drive innovation in this industry.
BofA Securities, Inc. acted as exclusive financial advisor to Invetx, while Latham & Watkins LLP served as legal advisor.
Invetx is at the forefront of creating novel, protein-based animal health therapeutics aimed at transforming standards of care in veterinary medicine. The company leverages a best-in-class biotechnology platform for the discovery, development, and manufacturing of veterinary monoclonal antibodies, developing a diverse product pipeline addressing chronic and severe diseases in companion animals. Strategic partners include AbCellera, a global technology company specialising in antibody discovery, and WuXi Biologics, a leader in biologics technology platforms.
The acquisition will support Dechra’s ambitious growth plans and further its mission to provide advanced treatments for companion animals. The combined expertise and resources of Dechra and Invetx are expected to accelerate the development and availability of innovative veterinary therapeutics, benefiting pets and their owners.
