Colorado State University spin-out VetDC acquires new drugs to tackle cancer in pets.
VetDC, a veterinarian biotech spin-out of Colorado State University (CSU), has acquired anti-cancer drugs from life sciences firm Pathway Therapeutics.
The firm aims to redevelop the drugs, originally designed to fight cancer in humans, to be useful to tackling tumours in animals. The drug, renamed VDC-597, blocks cancer cells from multiplying and growing in an animal’s body.
VetDC operates as a virtual company in order to keep operational and staffing costs down. It maintains a healthy relationship with CSU, which allows it access to the institution’s resources at its Animal Cancer Centre.
The firm has successfully raised $2.83m in venture backing. It closed a venture round for $1.5m last year, and completed a partial close for $1.33m in May. Both were from private backers.
Steven Roy, chief executive of VetDC, said: “This acquisition firmly establishes VetDC as one of the premier anti-cancer companies in animal health. Our high-science approach has enabled us to access another novel, targeted anti-cancer agent with extensive data and further validates our model of adapting innovative human technologies for use in companion animals.”
