Penningtons Manches Cooper’s corporate team has advised high profile venture capital firm, Cambridge Innovation Capital (CIC) on its equity investment in PetMedix, a Cambridge-based animal health start-up. PetMedix will use the investment to continue to advance its antibody technology platform that seeks to bring innovative medicines to companion pets.
The deal was led by Cambridge-based corporate partner, Ross McNaughton.
CIC backs world-leading life sciences and technology companies with an affiliation to Cambridge, Europe’s leading capital for innovation, and is a preferred investor for the University of Cambridge. It has attracted over a £1 billion of investment into Cambridge companies since its foundation in 2013.
CIC was impressed by the quality of the science underpinning PetMedix’s platform, and by the strong team leading their discovery and development programmes. PetMedix has doubled in size over the last 12 months and has moved to a new purpose built office in Cambridge. It has also started to expand internationally.