HTGF backs seed round for Adivo
German early-stage investor High-Tech Gründerfonds (HTGF) has backed a seed funding round for pet therapeutics company Adivo.
Corporate investors Occident Group and MorphoSys have also taken part in the round.
The Munich-headquartered business plans to accelerate therapeutic antibody programs as well as seeking collaborations with pharmaceutical partners.
HTGF invested from its third venture fund, which closed on €316.5m in May this year. It generally makes initial investments of €1-3m.
Company
Adivo was founded by medical doctor Kathrin Ladetzki-Baehs in 2018 and is headquartered in Martinsried near Munich. The company specialises in developing species-specific therapeutic antibodies for pets.
People
Adivo – Kathrin Ladetzki-Baehs (managing director).
High-Tech Gründerfonds – Lena Krzyzak (investment manager).
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