A big 👏🏼 👏🏼 👏🏼 to one of our portfolio companies, MI:RNA, and founder/CEO Eve Hanks!
Veterinary Diagnostics Company MI:RNA Raises $4 million Series A Funding
MI:RNA, the veterinary diagnostics company using cutting-edge technology and science to transform animal health diagnosis, has secured $4 million in Series A funding.
Aiming to change the future of animal health treatments through improved, earlier diagnostics, the capital will be used to continue global growth plans and revolutionize animal health testing, improving diagnosis and wellness among the pet, agriculture, and equine sectors. MI:RNA’s vision is to change the disease diagnosis approach to improve animal outcomes. The merits of MI:RNA technology is scientifically reviewed and proven and has won numerous grants and awards.
Funds have been raised from eight investors across three continents, including new investors,
NovaQuest (Lead Investor), Kyoritsu Holdings (owner of a Japanese animal health company), VANE (Angel Syndicate), Animal Health Angels, and Companion Fund I, LLC (VC). Existing investors adding to the series A round are Gabriel, Equity Gap and Scottish Enterprise.
Eve Hanks, CEO and founder, said: “Following on from our successful seed funding round from Gabriel Investments and Equity Gap, Series A is an important milestone in our global growth plans. We seek to improve health outcomes for animals through earlier disease diagnosis using revolutionary biomarker technology and artificial intelligence. The geographical spread of this investment round reflects the global opportunity for MI:RNA to deploy our platform for better pet outcomes.”
Brian Axe, Managing Director at NovaQuest Capital Management, said: “NovaQuest is extremely excited to lead the Series A with an exceptional syndicate of investors. Eve has assembled an excellent team and strong partners to help bring this disruptive and innovative diagnostic to both Production and Companion Animals. Identifying disease and understanding the stage of disease and progression through cellular mechanisms is the amazing potential miRNAs hold. We believe this technology has tremendous potential.”
Peter Glassman, DVM, Executive Committee Member & Co-founder at Veterinary Angel Network (VANE), said, “Our network of veterinarians, business owners, entrepreneurs, and industry experts are committed to supporting innovation in the animal health field. We invest in businesses that help pet owners, animals, or veterinary teams, and MI:RNA is an exciting investment opportunity at the cutting edge of science and technology. Our members were impressed by the MI:RNA team and the market application opportunity for vet practices globally to detect and stage diseases earlier.”