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Animalcare acquires 25% stake in Australian pet health firm InVetro
LONDON - Animalcare Group plc (AIM:ANCR) has acquired a 25% equity stake in Australian companion animal health business InVetro Pty Ltd for A$3 million (approximately £1.4 million), the company announced Friday in a press release.
The strategic investment aligns with Animalcare’s geographic expansion strategy and builds upon its acquisition of Randlab completed on January 3, 2025. The funds will help InVetro accelerate investment in scaling its commercial operations, expanding its product portfolio, and developing its pipeline.
InVetro is a development-stage veterinary pharmaceutical company with a portfolio of pharmaceutical marketing authorizations and licenses. Revenue generation from initial products is expected to commence this year, with all current products planned for launch by the end of 2026.
As part of the transaction, Animalcare will gain a seat on InVetro’s board and has negotiated arrangements that provide a pathway to acquiring a majority stake in the future. These include a call option to increase its holding to 51% between June 30, 2029, and December 31, 2029.
The founding InVetro shareholders have been granted a put option exercisable from January 1, 2030, to June 30, 2030.
Animalcare CEO Jenny Winter said the investment expands the company’s geographic footprint in the companion animal health market. The Australian market represents a significant opportunity for the company, according to the press release.
InVetro plans to launch several products in Australia, including HCA (NYSE:HCA) spray (Itchderm), Orozyme, Plaqtiv+, proGlan, and proHibex.
Animalcare’s longer-term ambition is to build an overall companion animal business in the Asia-Pacific region with revenues of approximately A$20-25 million, according to the statement.
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