PetMedix

About PetMedix

PetMedix is a biopharmaceutical company that develops monoclonal antibody therapeutics for companion animals. Founded in 2017 by Dr. Tom Weaver and Jolyon Martin, the UK-based company spun out of the University of Cambridge. The initial idea stemmed from a conversation between Weaver, a serial biotech founder, and Professor Allan Bradley, who pioneered mouse transgenic technologies. They aimed to translate the success of human antibody therapies to the veterinary market to address unmet clinical needs in pets.

The company's core technology includes its proprietary Ky9™ and Felyne™ platforms, which are designed to rapidly generate fully canine and feline therapeutic antibodies. This approach is based on successful human drug development methods and is intended to create safer, more effective treatments for diseases in dogs and cats, including cancer, inflammatory conditions, and arthritis. By creating species-specific antibodies, PetMedix aims to reduce the risk of adverse reactions and improve therapeutic outcomes.

PetMedix's business model focused on research and development, forming strategic partnerships with larger pharmaceutical companies to bring its discoveries to market. The company established collaborations with Boehringer Ingelheim in January 2021 and Zoetis in January 2022, where PetMedix would handle discovery activities and the partners would manage development and commercialization. This strategy allowed PetMedix to leverage the global scale and expertise of established players without building its own sales and marketing infrastructure.

On September 15, 2023, PetMedix was acquired by Zoetis, the world's largest animal health company, for a deal valued at approximately $210 million. The acquisition followed a successful collaboration between the two companies that began in 2022. PetMedix continues to operate from its Cambridge location, now serving as an innovation hub for Zoetis to accelerate research in areas like oncology and inflammatory diseases for pets.