By Sian Lazell
Animal Pharm News
May 4, 2016
Kansas City-based Integrated Animal Health (IAH) is initiating a private funding round to finance the development of its global product offering.
IAH is seeking private equity partners, venture capitalists and corporations for the $10 million series B funding round, which is expected to accelerate its drug, biologic and nutraceutical products pipeline.
In particular, any finance secured will go towards product testing, expanding product design and formulation, as well as increasing IAH's research teams, marketing and customer support.
To coincide with the funding round and to strengthen its executive team, IAH has reorganized its executives in the US for due diligence procedures surrounding the funding.
Regarding the realignment: Dr Blake Hawley, previously president and chief executive of North and South America, has been named president and chief executive of all global operations; John Kallassy has been appointed to interim chief financial officer, to lead the firm's due diligence processes; and founder and executive director Rob Neely has been as named chairman.
Dr Hawley said: "We are excited to accelerate our top product candidates through the proceeds of this series B funding. These products have solid, peer reviewed, clinical data support and are innovative products in our categories.
"These include a ground-breaking vaccine technology, a pharmaceutical product that would be the first of its kind and a line of natural, nutritional products that will substantially add to our existing suite of products."
IAH aims to design all its products so they fit into the existing workflow of farmer and ranchers or meet the lifestyle demands of pet owners.
"No matter how innovative the technology appears, if you can't use it on the farm with ease, we don't want to struggle commercializing it. We look for breakthrough technologies that deliver results, both in the animal and for those who deliver it," said Dr Hawley.
Mr Neely added: "In addition to having some of the most innovative products, we pride ourselves on careful examination of all of our testing, research and data. That is why there are multiple US parties, two international firms and returning angel investors already committing to due diligence in this funding round."
In December, IAH was preparing to begin two feedlot trials in Northern Australia for its natural oral fly repellent Repellion, after a positive early proof-of-concept trial of the product and in October, the firm revealed successful proof-of-concept trials had brought its scours product for calves closer to market.