Media Coverage

ViroVet adds Capricorn Venture Partners to series A

Oct 04, 2017 - Animal Pharm
By Joseph Harvey
Animal Pharm
October 4, 2017

Belgian company ViroVet has added another €1.5 million ($1.76 million) to its working capital after completing the second closing of its series A financing round.

ViroVet's work on vaccines and antiviral drugs for livestock has been stimulated by new investor Capricorn Venture Partners. This brings the Heverlee-based firm's funding round to €6m, after it recorded the first closing of the series A at the beginning of 2017.

Capricorn is an independent European manager of venture capital and equity funds. It joins ViroVet's pool of investors, which includes Biotech Fund Flanders, Agri Investment Fund, Gemma Frisius Fund and Vives Louvain Technology Fund.

The firm's vaccines are based on a proprietary technology platform developed at the Rega Institute for Medical Research of KU Leuven. ViroVet claims this technology has the potential to produce thermostable and tailor-made veterinary vaccines faster and more cost-effectively. The investment will help ViroVet demonstrate an economically viable proof-of-concept for its vaccine technology platform.

In May, the firm extended its vaccine pipeline to the small ruminant sector by collaborating with GALVmed.

The company is also developing antiviral drugs, which are focused on the effective control and treatment of respiratory diseases in cattle and swine. Again, the funding will help with proof-of-concept for its anti-viral product candidates.

At the recent Kansas City Animal Health Investment Forum, the company said a series B financing round will allow ViroVet to "enter the regulatory trajectory with our vaccine products in addition to up-scaling of our manufacturing for our antiviral drugs". The firm expects series B funding to close during the fourth quarter of 2018.

According to ViroVet, viral diseases cost livestock producers and international governments over $10 billion each year in losses.

Reprinted with permission of Animal Pharm News







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