Prevtec Microbia Inc., has raised $2.5 million in a new round of financing with Telesystem Ltd., Desjardins-Innovatech, S.E.C., Grupo Corporativo Fuertes, S.L., and Echo Capital FIER Outaouais, s.e.c.
In 2015, Montreal based Prevtec Microbia raised $7.2 million led by Investissement Québec and with participation of PIH Pharma Industry Holding GmbH, Telesystem Ltd., Groupe Jafaco Gestion Inc. and Desjardins-Innovatech, S.E.C.
“We are very pleased with this contribution from our shareholders to support our growth as our second vaccine is authorized for commercialization in the European Union. This investment will allow us to expand our team in Europe and manage demand for our vaccine from European pig producers. Our partner and distributor Elanco plans to launch the bivalent Coliprotec® F4/F18 vaccine in May 2017”, said Michel Fortin, President and CEO of Prevtec Microbia Inc.
The targeted swine market in the European Union represents a potential of 250 million heads annually. Prevtec Microbia has developed a portfolio of technologies, including three commercialized vaccines, with the goal of becoming the benchmark for biological products that can replace antibiotics administered to animals for consumption.
Prevtec Microbia is a Canadian biotechnology company developing biological products for the prevention of diseases in food animals.
photo credit: Prevtec Microbia