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Cambridge-based PetMedix bags £27M funding to revolutionise pet healthcare

Image credits: PetMedix

While we’ve managed to come up with ways to improve drug discovery and cure our own ailments, there’s been notably less headway for our pets. However, the Cambridge based startup PetMedix is working hard to develop new ways to invent drugs that can help relieve ailments for our pet companions. The company has now raised a notable £27 million in its series B funding round. 

Funding details

The latest funding round for PetMedix was led by Digitalis Ventures, and British funds Parkwalk Advisors. Additionally, Tencent and Japanese corporation Kyoritsu Holdings also participated, along with Cambridge Innovation Capital. The startup says this latest funding round will enable it to go from an R&D-stage to a clinical-stage international organisation. 

In a conversation with UKTN, PetMedix’s co-founder Jolyon Martin says, ” These funds will take us from being a research-stage organisation to a development-stage one. We recently announced the first-ever canine trial with one of our antibodies, and were thrilled with the results. In the tech world, this would be our MVP or a very early beta.” ...