CureLab Veterinary Launches Equity Crowdfunding Campaign on Netcapital to Revolutionize Medicine for Dogs, Cats, and Horses
CureLab Veterinary, an emerging animal health biotech company, has launched its crowdfunding campaign via Netcapital, a leading investment crowdfunding platform. CureLab Veterinary’s lead product, Elenavet™ (a supercoiled circular DNA called a plasmid), has successfully treated 10 out of 11 dogs with breast cancer.
Following a recent angel investment of $2.5 million, CureLab Veterinary is targeting a significant market opportunity with its therapeutic. There are 85 million dogs and 103 million cats in Europe. For the USA, these numbers are 96 and 90 million respectively. 43% of dogs and 32% of cats over the age of 10 will suffer from cancer, and many pet parents willingly pay at least $2,000 for a course of cancer treatment to help their beloved pet.
“After the success of our early clinical trials, we are anxious to start the approval process with the USDA and production in the United States to help reduce the pain and suffering of pets,” said Robert Devlin, DVM, MBA, of CureLab Veterinary. “Studies have shown that when pets have cancer, their owner’s health is also compromised. Pets are integral family members for most US households, and CureLab Veterinary wants to help save their lives. We are looking to the larger pet-loving community to invest in our company. For as little as $100, investors can make an enormous positive social impact for pets and participate in an opportunity for financial upside.”
In veterinary clinics outside the United States, Elenavet has demonstrated encouraging initial results for both dogs and cats with different types of cancer. Whether prescribed alone or in conjunction with additional chemotherapeutic agents, Elenavet, once approved, could capture and expand a significant share of the cancer therapy market. As a secondary market after cancer, CureLab Veterinary is planning to treat diseases of aging in dogs, cats, and horses. The company has a comprehensive patent portfolio in over 20 countries both for cancer and for diseases of chronic inflammation. Osteoarthritis, for example, debilitates 80% of elderly dogs and 90% of cats. CureLab Veterinary has already established a constructive dialog with regulators in the United States (USDA-CVB) and the European Union (CVM). The company wishes to attain conditional licensure in the US within 36 months after conclusion of the investment round. The conditional licensure will provide the company with a right to sell leading to profitability. An alternate business strategy may be to license the product to a pharmaceutical company.
“There are many ways to raise money, but most of them involve a gatekeeper between our talents and the everyday people who want to invest,” said CureLab Veterinary Founder Dr. Alexander Shneider. “That gatekeeper is known collectively as Wall Street — the VCs, underwriters, or other form of institutionalized ‘wisdom’ that stand between us, the innovators, and people we are committed to helping. We are leveling the playing field with a Reg CF crowdfunding offering. Anybody—from a student to a Fortune 500 CEO—can become a part of CureLab Veterinary’s success. To me, this is the highest form of economic democracy and is why we chose to crowdfund over other types of fundraising.”
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