Dechra announces upcoming acquisition of Invetx, in line with long term strategy to be an innovation leader in companion animal health
Invetx specialises in developing protein-based therapeutics for chronic conditions in companion animals, with a focus on monoclonal antibodies (mAbs). Its proprietary biotechnology innovation platform combines industry leading technologies to develop species specific and half-life extended mAbs that are longer lasting than currently available products, effective, safe and affordable.
The acquisition secures an exciting pipeline of innovative products for dogs and cats which are highly complementary to Dechra’s broad portfolio of speciality therapeutics, and provides entry into the large and high growth mAbs market. It adds new technology capability, bolsters Dechra’s existing pipeline and provides a significant runway for future growth.
Jesper Nordengaard, recently appointed Chief Executive Officer of Dechra, said "I regard this acquisition as hugely important for Dechra, marking the start of a new chapter in our growth. It demonstrates our ambition to create further points of differentiation and relevance with veterinarians and pet owners alike, confidence in our ability to deliver highly innovative new products, and capacity to execute large scale transactions at speed."
Dr. Jürgen Horn, Chief Executive Officer of Invetx, remarked “Becoming part of the Dechra Group marks a significant milestone for Invetx. We set out to become a leader in creating protein-based therapeutics for companion animals and are delighted to progress our pipeline with an ambitious partner such as Dechra. Together, we have an exciting future as we work to bring differentiated and best in class monoclonal antibody therapeutics for dogs and cats to the market.”
Innovation in animal health, following the trend of human health, is increasingly focused on antibody-based therapies. Such therapies have targeted modes of action and are therefore often more effective, provide an extended duration of activity and have fewer side effects, all of which help to extend and improve the quality of life for companion animals while decreasing the care burden for pet owners.
Commenting on the Invetx business, Jesper added “The half-life extension technology developed by Invetx allows for the generation of therapeutics that make treatment of chronic conditions far more convenient for pet owners and veterinarians through improved compliance. The pipeline of products currently being developed are all high value potential and will deepen our expertise in core therapeutic areas such as atopic dermatitis and osteoarthritis, allowing for synergistic product development, sales & marketing, and education efforts in the future.”
Guggenheim Securities, LLC is acting as exclusive financial advisor to Dechra, DLA Piper LLP (US) is acting as intellectual property advisor and Kirkland & Ellis LLP is acting as legal advisor. The acquisition remains subject to antitrust approval and other customary closing conditions.
About Invetx
Invetx is a pioneer in creating novel, protein-based animal health therapeutics to transform standards of care in veterinary medicine. The company leverages a best-in-class, fully integrated biotechnology platform for the discovery, development, and manufacturing of veterinary monoclonal antibodies, and is developing a diverse product pipeline addressing chronic and severe diseases in companion animals. Invetx is headquartered in Boston, Massachusetts.
For more information, please visit www.invetx.com.