Animab raises €10 million for further development of edible antibodies
The proceedings will be used to bring its lead product to market and to expand the pipeline of antibody products in animal health
VIB spin-off Animab, which is developing a new class of orally administered antibodies for animal health, announced the successful closing of its Series A round. The proceedings will be used to bring its lead product to market and to expand the pipeline of antibody products in animal health. The investment round was led by the venture capital fund Qbic III with participation from existing investors among which V-Bio Ventures and VIB.
Animab builds on a proprietary and scalable platform technology, enabling efficient and cost-competitive generation of monoclonal antibodies for the prevention of intestinal infections in livestock. The orally administered antibodies are designed to improve the health, wellbeing, and performance of animals by controlling specific disease-causing pathogens.
Currently, the Animab lead product is a monoclonal antibody designed specifically against enterotoxigenic Escherichia coli (ETEC), the most important cause of post-weaning diarrhea in piglets globally. The company has demonstrated in vivo that the product prevents diarrhea and related clinical signs in ETEC infected piglets and will now further develop the product for regulatory approval. This product will also contribute to a more sustainable livestock production and significantly reduce antibiotic usage in animals.
Last year, Animab also received an €800,000 grant from the Flemish Agency for Innovation & Entrepreneurship (VLAIO) that supported the company in the research of the lead product.
Alain Wille, CEO of Animab: “We appreciate the strong and continued support from our existing investors, who have enabled the company to progress to this point. We are proud to welcome Qbic as new investor, completing a strong investor syndicate. Overall, we are very excited with the progress we are making towards providing the production animal sector with an economically viable alternative for antimicrobials to control the most important pathogens.
Carla Snoeck, Manager New Ventures at VIB: “We are very excited about the significant progress made by Animab since its inception. This progress illustrates the efficacy of our tech transfer strategy and serves as a wonderful example of the positive impact that starting biotech companies can have on our society.”
