Torigen Pharmaceuticals Announces Completion of $13 Million Capital Raise
Additional investment will enable animal health company to continue developing product pipeline and delivering affordable, accessible treatments to pet owners
FARMINGTON, Conn., Nov. 16, 2022 /PRNewswire-PRWeb/ -- Torigen Pharmaceuticals, Inc, a commercial-stage animal health biologics company, today announced it has closed its $13 million Series A1 round led by Werth Family Investment Associates, LLC and Connecticut Innovations, Inc., bringing the total raised by the company to $18 million. Existing investors Emerald Development Managers, Gaingels, Kema Fund, University of Notre Dame, SoGal Ventures, and UCONN Innovation Fund, LLC participated in the round. New investors in this round also included Ironwood Capital and Advantage Capital.
"Our goal is to create the industry's first oncology toolbox for veterinarians," said Ashley Kalinauskas, CEO and co-founder of Torigen Pharmaceuticals. "This round of funding will allow us to continue to develop new products and leverage our pipeline. We are excited to work with all our investors as we expand our platform and continue to help the millions of pets diagnosed with cancer and other immune-mediated diseases each year."
"Our investment in Torigen is grounded in the same values and principles that guide us at Werth Ventures," said Musan Duric, Investment Portfolio Manager, Werth Ventures. "As a family office, we focus on growing the good in business and life, supporting women entrepreneurs, and championing change within the animal health market. Torigen's lead product, VetiVax, is a prime example of the company's ability to deliver innovative products and access the veterinary market. We're committed to seeing Torigen succeed and look forward to accompanying the entire team on its journey."
"Torigen is a transformative animal health tech company that creates personalized cancer immunotherapies, making effective cancer treatment more accessible and affordable for pet owners," said Neil Cohen, Chairman, Emerald Development Managers. "The work Torigen has done to date is exceptional. The team has developed a deep understanding of animal oncology, allowing them to develop new treatments to cover additional animal health conditions. We look forward to supporting Torigen's growth and to collaborating with Connecticut Innovations, Werth, and all those invested in the company's success."
To meet the market's strong demand, Torigen is now recruiting a skilled salesforce. Postings for open roles can be found at http://www.torigen.com.
About Torigen Pharmaceuticals Inc:
Torigen is transforming pet cancer treatment by harnessing the pet's immune system to create personalized cancer immunotherapies, making pet cancer treatment more accessible and more affordable. Torigen recognizes the instrumental role pets play in our families and is determined to extend the lives of companion animals despite a cancer diagnosis. With over 50% of all dogs over the age of 10 dying from cancer, Torigen is dedicated to providing affordable and effective cancer care solutions for all companion animals. Torigen is a spin-out from the University of Notre Dame and backed by Werth Family Investment Associates, Connecticut Innovations, Emerald Development Managers, Ironwood Capital, Advantage Capital, The University of Connecticut, The University of Notre Dame, SoGal Ventures, Gaingels, and other prominent investors. For more information visit http://www.torigen.com.
Media Contact
JOHN KALLASSY, Torigen Pharmaceuticals, 860-519-9956, [email protected]
SOURCE Torigen Pharmaceuticals
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