Invetx Acquisition, Valuation, Funding & Investors

Invetx was acquired by Dechra for $520M in July 2024.

Invetx acquisition price

$520M

Acquired by Dechra · Jul 2024

Cumulative funding Invetx raised

$86M

across 3 funding rounds

Key investors in Invetx

Invetx Overview

About Invetx

Invetx is a San Francisco-headquartered veterinary biotech firm developing protein therapeutics for companion animals and livestock. It leverages biopharma expertise to treat inflammatory diseases and infectious conditions in pets and farm populations worldwide.


Founded

2018

HQ

United StatesBoston, MA

Website

invetx.com

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$520M (acquired Jul 2024)

Invetx Acquisition

Invetx was acquired by Dechra for $520M on 18 July 2024.

Before the acquisition Invetx had raised $86M across 3 funding rounds.

Invetx Inc., a Boston-based pioneer in protein-based therapeutics for animal health, develops species-specific monoclonal antibody (mAb) therapeutics targeting chronic diseases in cats and dogs, such as atopic dermatitis and osteoarthritis. The company employs a proprietary half-life extension platform that prolongs drug activity for longer inter-dosing intervals, improving compliance for veterinarians and pet owners. Invetx raised $86 million since 2018 from investors including F-Prime Capital, Novo Holdings, GV, Eight Roads, Anterra Capital, Casdin Capital, and Tekla Capital Management, with strategic partners like AbCellera, WuXi Biologics, Boehringer Ingelheim, and Twist Bioscience. Dechra Pharmaceuticals Limited, a global specialist in veterinary pharmaceuticals with a broad portfolio of specialty therapeutics for companion animals, completed the acquisition of Invetx from its shareholders on July 18, 2024, for approximately $530 million. The deal structure included $411.5 million in upfront cash consideration on a cash-free, debt-free basis, plus up to $120 million in gross contingent consideration tied to product development achievements and regulatory milestones through December 2032. Advisors included BofA Securities and Latham & Watkins for Invetx, and Guggenheim Securities, DLA Piper, and Kirkland & Ellis for Dechra; the transaction was subject to antitrust approval and customary closing conditions. The acquisition aligns with Dechra's strategy to lead in veterinary innovation by entering the high-growth mAbs market, complementing its existing pipeline and adding capabilities in core areas like dermatology and orthopedics for synergistic development, sales, and marketing. Invetx CEO Juergen Horn highlighted the pipeline's complementarity to Dechra's portfolio, while Dechra CEO Jesper Nordengaard emphasized Invetx's extended-duration biotherapeutics as a significant innovation accelerating growth and differentiation in companion animal health.

Invetx acquisition details
AcquirerDateTypePrice
  • Dechra
18 Jul 2024Strategic M&A$520M

Invetx Funding History

Invetx has raised a total of $86M across 3 funding rounds.

Invetx's first fundraising round was a $15M Series A in February 2020. The most recent completed round was a $61M Series B in May 2022.

Invetx funding rounds

Invetx funding rounds
DateStageInvestorsRaisedDeal Summary
May 2022Series BEight Roads Ventures (lead); F-Prime (lead); GV (lead); Novo Holdings (lead); Casdin Capital; Tekla Capital Management; Anterra Capital$61MInvetx is a Boston-based pioneer in protein-based therapeutics for animal health, focusing on monoclonal antibody (mAb) pipelines targeting chronic and serious diseases in dogs and cats. The company raised $60.5 million in an oversubscribed Series B financing announced on May 10, 2022 (dated April 11, 2022 in some sources), led by F-Prime Capital, Novo Holdings, GV (formerly Google Ventures), and Eight Roads Ventures, with participation from existing investors Anterra Capital, Casdin Capital, and funds managed by Tekla Capital Management. Proceeds were intended to advance the mAb pipeline toward market approvals and commercialization, with programs in pilot phases and a first product candidate in clinical field studies. Invetx had raised a total of approximately $86 million since 2018 across multiple rounds, including prior Series A financings. Strategic partners include AbCellera for antibody discovery, WuXi Biologics for biologics platforms, and later mentions of Boehringer Ingelheim and Twist Bioscience. The company emphasized rapid progress in validating its mAb platform for veterinary biotherapeutics. In July 2024, Invetx was acquired by Dechra Pharmaceuticals for up to $520 million on a cash-free, debt-free basis, valuing the animal health therapeutics pioneer at that enterprise value.
Sep 2020Series AAbCellera; Casdin Capital; Wuxi Biologics; Tekla Capital Management; Anterra Capital$10MInvetx is a biotechnology company developing protein-based therapeutics, including monoclonal antibodies, for animal health to address chronic and serious diseases in dogs and cats. The company completed a $25.5 million Series A financing in 2020, comprising an initial $15 million led by Anterra Capital with strategic investors AbCellera and WuXi Biologics, followed by an additional $10.25 million from new investors Casdin Capital and funds managed by Tekla Capital Management. Investors in the Series A included AbCellera, Anterra Capital, Casdin Capital, Tekla Capital Management, and Wuxi Biologics. The proceeds supported clinical entry of its first therapeutic candidate in 2020, preclinical pipeline development, team expansion, and scaling its antibody platform for veterinary applications.
Feb 2020Series AAnterra Capital (lead); AbCellera; Wuxi Biologics$15MInvetx is a biotechnology company developing protein-based therapeutics for animal health, focusing on chronic and serious conditions in pets like dogs and cats using platforms for targets such as G-protein-coupled receptors. The company raised $15 million in its initial Series A financing on February 24, 2020, led by Anterra Capital with participation from strategic investors AbCellera Biologics and WuXi Biologics. This funding supported clinical entry of its first therapeutic candidate in 2020 and preclinical development of a broader pipeline of animal biologic drugs leveraging human biopharma technologies. Later in 2020, Invetx completed an additional $10.25 million tranche, bringing the total Series A to $25.5 million with new investors Casdin Capital and Tekla Capital Management funds joining.

Who has invested in Invetx?

9 investors have backed Invetx across its funding rounds, including Anterra Capital, Casdin Capital, Tekla Capital Management, Wuxi Biologics, AbCellera and GV.

Lead investors include Eight Roads Ventures, F-Prime, GV, Novo Holdings and Anterra Capital.


Invetx Investors

Investors in Invetx by funding rounds participated
InvestorHQRoundsRoleFirst check
Anterra CapitalNetherlandsAmsterdam3LeadFeb 2020
AbCelleraCanadaCanada2ParticipantFeb 2020
Casdin CapitalUnited StatesNew York City, NY2ParticipantSep 2020
Wuxi BiologicsChinaWuxi2ParticipantFeb 2020
Tekla Capital ManagementUnited StatesBoston, MA2ParticipantSep 2020
Novo HoldingsDenmarkCopenhagen1LeadMay 2022
GVUnited StatesSan Francisco, CA1LeadMay 2022

This data is available for Pro users. Sign up to see all 9 Invetx investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Invetx Competitors

Invetx competitors include listed companies like Kamada and Ocumension, and private ones like Shoreline Biosciences, Ollin Biosciences, Strand Therapeutics and Yantai Lannacheng Biotechnology.

Public and private companies comparable to Invetx
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Shoreline BiosciencesUnited StatesUnited StatesPrivate--$528M-
KamadaIsraelIsraelPublicly listed$180M$37M$501M2.3x
Ollin BiosciencesUnited StatesUnited StatesPrivate--$500M-
OcumensionChinaChinaPublicly listed$120M($3M)$548M-
Strand TherapeuticsUnited StatesUnited StatesPrivate--$550M-
Yantai Lannacheng BiotechnologyChinaYantaiPrivate$2M-$477M-

Invetx Public Comps

Invetx is no longer listed, but its public comps include Entera Bio, Indaptus Therapeutics, Assembly Biosciences, Chabiotech, Ovid Therapeutics, Autolus Therapeutics, Tactile Medical, IBA Group, TaiMed Biologics and Vogenx.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Entera Bio$42K($11M)12199.0x42813.7x(44.6x)-
Indaptus Therapeutics-($21M)--(24.6x)-
Assembly Biosciences$72M($12M)2.7x3.0x(16.5x)9.1x
Chabiotech$923M($32M)1.4x-(41.0x)-
Ovid Therapeutics$7M($17M)58.3x159.2x(24.7x)-
Autolus Therapeutics$75M($258M)5.2x3.1x(1.5x)(1.8x)
Tactile Medical$330M$36M1.3x1.2x12.3x9.1x
IBA Group$714M$40M0.8x0.8x14.8x10.5x

This data is available for Pro users. Sign up to see all Invetx competitors and their valuation data.

Start Free Trial

Common questions about Invetx

When was Invetx founded?Invetx was founded in 2018.
Where is Invetx headquartered?Invetx is headquartered in Boston, MA, United States.
Is Invetx publicly listed?No, Invetx was acquired by Dechra in July 2024.
Who acquired Invetx?Invetx was acquired by Dechra in July 2024.
How much was Invetx acquired for?Invetx was acquired for $520M in July 2024.
How much funding has Invetx raised?Invetx has raised $86M across 3 funding rounds.
What was Invetx's last funding round?Invetx's last funding round was a $61M Series B in May 2022, led by Eight Roads Ventures, F-Prime, GV and Novo Holdings.
Who are Invetx's investors?Invetx's investors include Anterra Capital, AbCellera, Casdin Capital, Wuxi Biologics, Tekla Capital Management, Novo Holdings, GV, F-Prime and Eight Roads Ventures.
Which companies are comparable to Invetx?Companies comparable to Invetx include Shoreline Biosciences, Kamada, Ollin Biosciences, Ocumension, Strand Therapeutics and Yantai Lannacheng Biotechnology.

See companies similar to Invetx

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial