Pet Medix
Acquired4 known investors
Novel antibody-based therapeutics platform for animal health.
Also known as PetMedix · PetMedix Ltd
Investors · 4
Company profile
researched Aug 2026PetMedix is a UK-based biotechnology company that discovers and develops species-specific therapeutic antibodies for companion animals. Based at the Babraham Research Campus near Cambridge, the company carries out research and development into monoclonal antibodies for pets, applying antibody technology originally developed for human medicine to veterinary disease.
Its proprietary drug development work has produced a portfolio of antibody drug candidates aimed at unmet clinical needs in chronic and terminal diseases affecting dogs and cats, including oncology and inflammatory conditions. In September 2023 PetMedix was acquired by Zoetis, the New Jersey-headquartered animal health company, and continues to operate as one of Zoetis' innovation hubs and a centre of research excellence focused on translating basic and translational research into new treatments for animal disease.
Founding story
PetMedix was co-founded by Dr Tom Weaver, who serves as CEO, and Dr Jolyon Martin, co-founder and head of business development. The company completed its first financing in 2019.
Business model
PetMedix develops proprietary monoclonal antibody drug candidates for companion animals and also conducts antibody discovery research collaborations with animal health companies, as it did with Zoetis from 2022. Following the acquisition it operates as an internal research and innovation hub within Zoetis.
Traction
PetMedix built a large portfolio of antibody drug candidates and ran research collaborations with Zoetis beginning in 2022, which preceded its acquisition by Zoetis in 2023.
Latest developments
Zoetis completed the acquisition of PetMedix in September 2023 for approximately $210 million, including $111 million upfront cash consideration and contingent consideration of up to $100 million tied to milestones. Stifel acted as exclusive financial advisor to PetMedix. PetMedix retained its operations as a Zoetis innovation hub, with the aim of advancing its monoclonal antibody portfolio toward regulatory approvals in global markets.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
PetMedix is described as a leader in discovering species-specific therapeutic antibodies for pets. Its acquirer, Zoetis, is a Fortune 500 animal health company that generated $8.1 billion in revenue in 2022 with approximately 13,800 employees in more than 100 countries.
The company focuses on species-specific antibodies designed for companion animals rather than adapting human therapeutics, and has assembled a portfolio of antibody candidates addressing chronic and terminal diseases in dogs and cats.
Technology
The company applies monoclonal antibody technology, a modality developed in Cambridge for human medicine, to companion animals, discovering species-specific therapeutic antibodies. Zoetis described the acquisition as bringing in unique platforms relevant to oncology, inflammatory diseases and other areas.
Go-to-market
Pets, principally dogs and cats, and their owners, reached through the veterinary and animal health pharmaceutical market.
Geography
UK-headquartered, with laboratories at the Babraham Research Campus in Babraham, Cambridge. Its parent company Zoetis is based in New Jersey and operates in more than 100 countries.
History
The company established its laboratory operations at the Babraham Research Campus in Cambridge and completed its first financing in 2019. It began collaborating with Zoetis on antibody discovery research in 2022, joined the National Office of Animal Health (NOAH) as an Associate member in June 2023, and was acquired by Zoetis in September 2023, after which it continued operating as a Zoetis innovation hub.
Compiled by commissioned research from 4 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 3
launches, deals, and filingsZoetis Inc. completed the acquisition of PetMedix Ltd for approximately $210 million, comprising $111 million upfront cash consideration (excluding $19 million of cash acquired and $5 million withheld for post-closing adjustments) and contingent consideration of up to $100 million based on milestone achievement. Press coverage of the deal in late September 2023 noted no financial detail was disclosed by the parties; Stifel acted as exclusive financial advisor to PetMedix. PetMedix continues operations as one of Zoetis' innovation hubs.
$210M source ↗
PetMedix joined the National Office of Animal Health (NOAH), the UK animal health industry body, as an Associate member.
PetMedix and Zoetis began collaborating on antibody discovery research in 2022, prior to the acquisition.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 4
primary sources listed
4 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Pet Medix do?
- UK biotech developing species-specific therapeutic monoclonal antibodies for dogs and cats; acquired by Zoetis in 2023.
- Who are Pet Medix's investors?
- Pet Medix's investors include Cambridge Innovation Capital, Companion Fund, Digitalis Ventures, Parkwalk Advisors.