More Cambridge-US activity as PetMedix is acquired by Zoetis

PetMedix, a leader in discovering species-specific therapeutic antibodies for pets, has been acquired by Zoetis, a world-leading animal health company based in New Jersey.

Both parties have collaborated since 2022 on antibody discovery research.

“Zoetis is an ideal partner for us, innovation to bring new solutions to their customers is their number one focus, and this aligns 100 per cent with our approach,” said Tom Weaver, PetMedix co-founder and CEO. “Zoetis was the first animal health company to appreciate the power of monoclonal antibody therapy, a technology created in Cambridge, and it has transformed human health. Through their vision and focus on the best science they were the first to launch successful mAb therapeutics to treat chronic diseases in companion animals.

“Zoetis’ market-leading expertise in developing, manufacturing, and commercialising innovative medicines will help PetMedix’s rich portfolio of transformative monoclonal antibodies progress more quickly towards regulatory approvals in global markets and make a real difference in the lives of pets and their owners.”

Located on Babraham Research Campus, PetMedix will continue operations and act as one of Zoetis’ innovation hubs, providing a centre of research excellence to harness advances in basic and translational research and drive the creation of new treatments for animal disease.

Rob Polzer, executive VP and president of R&D at Zoetis, said: “As the world leader in animal health, we are always exploring business development and external innovation activities that can complement our internal research and development capabilities.

“Adding PetMedix to our R&D organisation brings in unique platforms that may accelerate our research and portfolio to potentially help us address our customers’ unmet needs in oncology, inflammatory diseases and other areas, and we are excited about the possibilities ahead.”

A Fortune 500 company, Zoetis generated revenue of $8.1billion in 2022 with approximately 13,800 employees in more than 100 countries. No financial detail was disclosed regarding the acquisition.