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Stonehaven Incubate has closed a further capital raising having secured significant investment from existing shareholder Elanco, and from Argenta, a leading animal health CRO and CMO. The funding will allow Stonehaven Incubate to expand investments into new portfolio companies and provide capital to potentially further invest in its existing five start-up businesses.
Jarne Elleholm, CEO of Stonehaven Incubate, said: “We are very pleased to have reached agreements with these strategic investors. As well as the financial equity investment, the addition of Argenta opens a strategic partnership and provides Stonehaven Incubate access to preferred services in consulting, manufacturing, pharmaceutical sciences and clinical development. This will help us maximise the potential of our maturing portfolio, as well as to launch new companies.”
“Elanco’s agile and durable innovation model pairs our industry-leading R&D programs with external innovation sources to find solutions to some of animal health’s most important challenges,” said Aaron Schacht, Executive Vice President, Elanco Innovation, Regulatory & Business Development. “We’re excited to continue our investment in and collaboration with Stonehaven Incubate to pursue the next generation of exciting technologies.”
Ben Russell, CEO of Argenta, said: “We partner with companies around the globe interested in advancing animal health to bring innovative molecules and technologies to market. We strongly believe in Stonehaven Incubate’s unique approach to new company creation and we are confident that our investment and collaboration will benefit the whole animal health ecosystem. We’re excited by the opportunities ahead as Stonehaven Incubate grows and expands its portfolio of businesses.”
Stonehaven Incubate’s existing portfolio comprises: Anizome, the developers of a world class animal microbiome platform; AniV8, a venture that will commercialise health monitor technology to improve companion animal health; Anifera, an innovator and leader in researching and developing solutions for adjunct therapy for antibiotics; and Touchlight Aquaculture which will utilize Touchlight Genetics’ innovative DNA-based DoggyboneTM platform to develop new vaccine solutions, focused on providing solutions exclusively in the field of aquaculture.
Stonehaven Incubate is also collaborating with Lysando, which is developing and commercialising new treatments for dermal condtions in dogs. Stonehaven Incubate also has a rich pipeline of new opportunities after cultivating relationships with multiple human health innovators over the past year.
April 6, 2021 - Stonehaven Incubate
