Argenta signs $ 30 million product financing agreement with NovaQuest to accelerate development of new veterinary products
RALEIGH, North Carolina and AUCKLAND, New Zealand – (COMMERCIAL THREAD) – Argenta Limited (“Argenta”), the only global contract research organization (CRO) and contract development and manufacturing organization (CDMO) specializing in animal health, and NovaQuest Capital Management (“NovaQuest” ) today announced a $ 30 million product funding agreement for the development of several innovative veterinary pharmaceuticals.
The collaboration draws on NovaQuest’s capital and expertise, as well as Argenta’s knowledge and know-how in research and development activities that advance animal health.
“NovaQuest’s capital investment accelerates Argenta’s strategy of providing innovative solutions and Molecule to Market services through global partnerships. We are excited about the collaboration with NovaQuest and look forward to strengthening our partnership with additional programs in the future, ”said Ben Russell, CEO of Argenta.
Argenta will conduct R&D activities from its sites in the United States and New Zealand and will use proprietary drug delivery technologies to develop what is expected to be the next generation of veterinary pharmaceuticals. Argenta and NovaQuest will seek commercialization partners as the project progresses.
“This is a historic step for Argenta and decisive in advancing our commitment to offer innovation to the animal health sector. I am excited to leverage our product development expertise, intellectual property and technology to accelerate some of the many options available, ”commented Edward McGruder, Global Head of Research, Development and Innovation at Argenta.
For NovaQuest, a leading biopharmacy and life sciences investment firm with extensive experience in financing human health products, this represents their first expansion into a collaboration of this nature within animal health industry.
“We are delighted to conclude this collaboration with Argenta, a trusted global leader in the animal health industry. With this investment, we are expanding NovaQuest’s commitment to fund animal health innovation across a wide range of businesses and products, ”said Jonathan Tunnicliffe, Chief Investment Officer of NovaQuest.
“NovaQuest’s commitment to bringing innovation to the animal health industry, combined with Argenta’s unmatched end-to-end development capabilities and expertise make this a truly exciting collaboration,” said Brian Ax. , CEO of NovaQuest.
Both companies are eager to begin this product development journey to help accelerate innovation in the animal health industry.
Wyrick Robbins Yates & Ponton LLP acted as legal counsel to NovaQuest.
Founded by a team of seasoned industry professionals who began working together in 2000, NovaQuest Capital Management is a leading biopharmacy and life sciences investment firm. NovaQuest has pioneered a product finance solution for the industry, providing risky, non-dilutive financing that enables partner companies to advance pivotal clinical trials, launch new brands, licensed products and to acquire profitable products or businesses. NovaQuest has invested in dozens of active biopharmaceuticals in all therapeutic areas with a clinical success rate above the industry average. Currently managing over $ 2.2 billion in capital, NovaQuest is actively investing in the $ 1.2 billion Pharma Opportunities Fund V, assessing global opportunities with funding needs ranging from $ 30 million to $ 100 million. Leveraging the core platform, NovaQuest expands its strategy to bring much-needed capital to the animal health industry. NovaQuest actively evaluates and invests in opportunities across all animal segments and geographies. For more information, please visit www.novaquest.com
Argenta is the only global combined contract research organization (CRO) and contract development and manufacturing organization (CDMO) dedicated to animal health. Founded in 2006 in New Zealand, Argenta’s talented, diverse and committed employees work daily to deliver excellence in animal health to customers around the world. With GMP research and manufacturing activities in New Zealand, the United States and the United Kingdom, Argenta operates “from the molecule to the market” in partnership with its customers to support their R&D, regulatory and research needs. clinical and manufacturing throughout the veterinary product development journey. For more information on Argenta, please visit www.argentaglobal.com