Prevtec Microbia Inc, a Canadian biotechnology company developing technologies for the prevention of diseases in food-animals, has raised $4.7 million in follow-on financing. Most of the round was accounted for by VVC, a Canadian venture capital firm focused on investing in animal health. The other investors included existing backers Telesystem, Groupe Jafaco Gestion and Desjardins-Innovatech. Founded in 2001, the Montréal-based Prevtec is led by President and CEO Michel Fortin. The company said it plans to bring a number of new innovative products to market in the coming years.
Prevtec Microbia Completes a $4.7 Million Round of Financing
2015 should be a pivotal year with EU Commercial Launch of swine vaccine
MONTREAL, QUEBEC–(Marketwired – March 12, 2015) – Prevtec Microbia (“Prevtec”) is pleased to announce that it has successfully completed a 2014/2015 round of financing for $4.7 million. Up to 36% of the funds were provided by current shareholders, amongst them, Telesystem Ltd, Groupe Jafaco Gestion Inc., and Desjardins-Innovatech, S.E.C.
The remaining 64% of the funds, $3 million, was provided by VVC, a Canadian-based venture capital fund investing globally with a singular focus on animal health. VVC seeks above-market returns by identifying compelling opportunities and providing intellectual and financial capital, operational expertise and a rich network that helps build successful businesses and technologies.
“We wish to thank our long-time shareholders for their support in this key phase of our Company’s commercial development and welcome our new investor. Our mission is to bring multiple innovative products to market in the coming years and collaborate efficiently with our key partners,” said Michel Fortin, President and CEO of Prevtec Microbia.
Pending market authorization, Prevtec anticipates the commercial launch of its live bacterial swine vaccine Coliprotec®F4 in many countries of the European Union over the course of 2015. Prevtec’s oral vaccine immunizes swine against enterotoxigenic F4-positive E. coli, thus improving animal health.
Prevtec has secured a distribution agreement with Elanco, a world leader in animal health, for the commercialization of Coliprotec®F4 in the European Union.
About Prevtec Microbia
Prevtec Microbia is a private Canadian biotechnology company developing innovative biological products for the prevention of diseases in food-animals. The Company’s mission is to develop technologies that improve animal health, contributing in better ways to feed the planet.
Since 2008, Prevtec Microbia has sold its first commercial product, Coliprotec®F4, an E.coli vaccine for swine, in Canada. The product is also registered in Brazil and other countries. In early January 2015, the European Committee for Medicinal Products for Veterinary Use issued a positive opinion recommending the granting of a market authorization in the European Union for Coliprotec®F4. See more information at www.prevtecmicrobia.com.
Christian Roy, CPA, CA
Dr. Paul Dick
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Photo courtesy of Prevtec Microbia Inc