April 7, 2021

Stonehaven Incubate secures further investment from Elanco

Stonehaven Incubate has announced closing a further capital raising from securing significant investment from existing shareholder Elanco, and from Argenta, a leading animal health CRO (contract research organisation) and CMO (contract manufacturing organisation).

The funding will allow Stonehaven Incubate to expand investments into new portfolio companies and provide capital to potentially further invest in its existing five start-up businesses.

Jarne Elleholm, CEO of Stonehaven Incubate, says, "We are very pleased to have reached agreements with these strategic investors. As well as the financial equity investment, the addition of Argenta opens a strategic partnership and provides Stonehaven Incubate access to preferred services in consulting, manufacturing, pharmaceutical sciences and clinical development. This will help us maximise the potential of our maturing portfolio, as well as to launch new companies."

Adds Aaron Schacht, executive vice president, Elanco Innovation, Regulatory & Business Development: "Elanco's agile and durable innovation model pairs our industry-leading R&D programmes with external innovation sources to find solutions to some of animal health's most important challenges."

Stonehaven Incubate's existing portfolio comprises: Anizome, the developers of a world-class animal microbiome platform; AniV8, a venture that will commercialise health monitor technology to improve companion animal health; Anifera, an innovator and leader in researching and developing solutions for adjunct therapy for antibiotics; and Touchlight Aquaculture which will utilise Touchlight Genetics' DNA-based DoggyboneTM platform to develop new vaccine solutions, focused on providing solutions exclusively in the field of aquaculture; Lysando, which is developing and commercialising new treatments for dermal conditions in dogs.