Ag Tech Investments News
AgTech Accelerator Makes Animal Health Industry Investment
AgTech Accelerator™, the RTP based venture development organization focused on emerging agricultural technology and animal health companies, announced a $5 million Series A investment into Skyline Vet Pharma, Inc. The investors participating in Skyline’s financing include AgTech Accelerator’s investment syndicate partners.
Chief executive officer of AgTech Accelerator, John W. Dombrosky said, “Following the May 2016 launch of AgTech Accelerator, we have been searching for the best opportunities in the companion animal health space. We are delighted to now bring AgTech Accelerator’s deep expertise and unique company-building resources to Skyline Vet Pharma, an early-stage company poised to transform the way we meet our pets’ underserved health care needs. This investment illustrates the kind of breadth, variety and scope built into AgTech Accelerator’s company development approach.”
Skyline Vet Pharma was co-founded by animal health and animal biology industry veterans Serge Martinod, D.V.M., Ph.D., as the company’s chief executive officer, and George Murphy, who serves as vice president. The company is developing products to address critical needs in the companion animal health industry as today’s pet owners expect veterinarians to provide pet health care nearly on par with human health care. As the bond between companion animals and their caregivers continues to strengthen, so does the demand for pharmaceutical products able to improve the health and well-being of pets.
Treatment compliance remains one of the major challenges in modern veterinary medicine. The best therapy is worthless if pet owners cannot or do not administer prescribed drugs to their animals. Furthermore, the consequences of poor compliance, including increased cost of treatment, recurrences and relapses of the poorly treated disease, selection for antibiotic resistance, and unnecessary pain and suffering can be devastating. Palatable products, ease of dose administration and less frequent dosing will increase pet-owner bonding, which is a major factor in the commercial success of companion animal health products.
Skyline Vet Pharma uses proven, in-licensed delivery technologies to reformulate known drugs not yet approved for use in animal health, thereby creating novel combination products for established markets.
The company intends to bring several new products to the market over the next few years in three major therapeutic areas: pain/inflammation, cardiovascular disease and antimicrobials, areas that represent more than 60 percent of the prescriptions written by veterinarians.