Dechra Pharmaceuticals Limited (Dechra) announces the upcoming acquisition of Invetx
Thursday, July 18, 2024
In line with its long-term strategy to be an innovation leader in health, Invetx specializes in developing protein-based therapeutics for companion animals' chronic conditions, focusing 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 specialty therapeutics, and provides entry into the large and high-growth mAbs market. It adds new technology capabilities, 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 Dechra
Dechra is a global specialist veterinary pharmaceuticals and related products business. Dechra’s expertise is in the development, manufacture, and sales and marketing of high quality products, exclusively for veterinarians, to support the sustainable improvement of animal health and welfare worldwide.
For more information, please visit: www.dechra.com
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.
Dechra and the Dechra ‘D’ logo are registered trademarks of Dechra Pharmaceuticals Limited.