VetDC, Inc. Raises $1.5 Million to Advance VDC-1101 for Canine Lymphoma
FORT COLLINS, Colo., Nov 29, 2012 (BUSINESS WIRE) -- VetDC, Inc., announced today the completion of a $1.5 million private financing. The funds will be used to advance VDC-1101 towards veterinary approval in canine lymphoma. VDC-1101 is a novel targeted agent that has demonstrated substantial antitumor activity in pet dogs with lymphoma, and is anticipated to be one of the first FDA-approved drugs for the treatment of canine lymphoma.
"We are thrilled to secure this funding and initiate our VDC-1101 manufacturing campaign," stated Steven Roy, VetDC's President & CEO. "This financing is a clear validation of the VetDC business concept and reinforces our belief that VDC-1101 represents a promising new treatment for canine lymphoma. VetDC is rapidly establishing itself as a leader in developing novel treatments for companion animals."
About VetDC, Inc.
VetDC, a Colorado State University startup headquartered in Fort Collins, Colorado, is a veterinary biotechnology company focused on in-licensing, developing and commercializing novel biotechnologies to address serious unmet medical needs in companion animals. In 2011, the company secured seed funding from the Colorado Institute for Drug, Device and Diagnostic Development (CID4). For more information on VetDC, please visit www.vet-dc.com .
Safe Harbor Statement
This news release contains "forward-looking statements" covered by the Private Securities Litigation Reform Act of 1995. The inclusion of forward-looking statements should not be regarded as a representation that any of the company's plans or objectives will be achieved. Forward-looking statements involve inherent risks and uncertainties and a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statement. These factors include, but are not limited to uncertainties associated with: drug development and regulatory review process, scientific discovery process, competition, pricing environment, financing, intellectual property, and evolution of the companion animal market. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE: VetDC, Inc.
Steven J. Roy, President & CEO