News about Animab
29 Nov 2022
Belgian start-up Animab has supported its livestock antibody platform by closing a €10 million ($10.2 million) series A investment round.
While many companies are looking at developing antibody-based therapies for companion animals, this funding establishes Animab as one of the leading proponents of this product category for food-producing animals. The Ghent-based company is using a technology platform to offer “efficient and cost-competitive generation of monoclonal antibodies for the prevention of intestinal infections in livestock”.
The investment round was led by the venture capital fund Qbic III – a new backer for Animab – with participation from existing investors Seventure Partners, Vlaams Instituut voor Biotechnologie (VIB), PMV, Agri Investment Fund and V-Bio Ventures.
Animab said the funding will be used to bring its lead candidate to market and to expand its pipeline of antibody products. The firm’s lead product is a monoclonal antibody designed specifically against enterotoxigenic Escherichia coli (ETEC), which is “the most important cause of post-weaning diarrhea in piglets globally”. The product has demonstrated its ability to prevents diarrhea and related clinical signs in ETEC infected piglets as part of in vivo studies. Animab is now aiming to “further develop the product for regulatory approval”.
The firm stated: “Animab is also looking into expanding its platform-based pipeline. With this series A funding, the company is looking to demonstrate clinical efficacy and safety for a range of gastrointestinal indications in livestock.”
Animab was founded in 2020 as a spin-off from VIB and its partner institutes Ghent University and Vrije Universiteit Brussel. The company previously secured €3.4m in seed funding from the investors featured in the latest round, as well as a €800,000 grant from the Flemish Agency for Innovation & Entrepreneurship.