NovoBind Livestock Therapeutics Inc., a Vancouver-headquartered animal health biologics business, closed the series A investment round with a wide range of strategic and financial investors.
The company uses a proven platform to develop precision biologics to protect livestock against commercially devastating pathogenic bacteria, viruses and parasites. NovoBind biologics are developed for inclusion in standard feed for terrestrial and aquaculture applications which will provide efficacious and economical alternative controls. Currently, the company is tackling a list of pathogens that cause an aggregate annual loss of $22 billion to poultry, shrimp and companion animal sectors.
In June 2019, NovoBind announced a joint development and commercialization agreement for advanced Salmonella biologics with Lallemand Animal Nutrition, as well as the subscription by Lallemand of equity in NovoBind as part of NovoBind’s planned series A. In addition to Lallemand, several other strategic investors participated in the series A including Natural Products Canada and the Center for Aquaculture Technologies. Specialist financial investors included Seventure Partners, Mindset Venture Group, Lightheart Management Partners and Carpere Ventures. This financing was additionally supported by returning investors from NovoBind’s prior seed round.
“We’re honored to have such a solid foundation of quality strategic and financial investors to guide and support us through this exciting period. We have always sought to utilize an engaged investor base to assist in the execution of our bold scientific and commercial ambitions,” said Hamlet Abnousi, co-founder and CEO of NovoBind. “We continue to seek key strategic partners as we strive to deploy our proprietary technology to address pressing global challenges in new sectors,” Abnousi said.
