Newpets secures tens of millions in angel round to advance veterinary drug evaluation and accelerate innovative pet medication development

Newpets, a service platform dedicated to the evaluation of innovative veterinary drugs, has officially announced the completion of its tens of millions of yuan angel round. This round was led by Wuhan Dongke Jucai Venture Investment Fund, a prominent Chinese investment institution, with participation from Wuhan Talent Innovation and Venture Investment Fund, Hubei Science & Technology Investment Guangchuang Weilai Laboratory Angel Investment Fund, and Wuhan Xindanuocheng Venture Investment Management Co., Ltd. Existing shareholders also continued their investment.

The newly raised capital will be primarily used to expand laboratory animal facilities, accelerate the development of disease models and technology platforms, and establish a CNAS-accredited laboratory. It will also support the construction of bases in Suzhou and Shenzhen, enhancing the platform's service coverage across Central, Eastern, and Southern China.

China's pet healthcare market continues to experience rapid growth, with the domestic population of cats and dogs exceeding 120 million. The veterinary drug market is projected to approach RMB 20 billion in 2024, indicating substantial potential for future expansion. As an emerging sector developing at a remarkable pace, the field of innovative veterinary drug development still faces several challenges, including the shortage of high-quality laboratory animals, limited disease models, and insufficient drug evaluation institutions for therapeutic agents.

Addressing these industry challenges head-on, Newpets is committed to resolving client pain points by establishing high-standard laboratory animal facilities and developing a diverse portfolio of disease models. Through close collaboration with numerous veterinary hospitals, the company is building an integrated evaluation system for innovative veterinary drugs that spans the entire workflow—from laboratory animal studies and preclinical research to clinical investigations. This comprehensive approach is designed to enhance R&D efficiency and data consistency for clients, while simultaneously reducing development costs. By accelerating the translation and commercialization of innovative veterinary drugs and elevating their technical standards and quality benchmarks, Newpets is positioned to drive the rapid advancement of the companion animal drug industry.

Newpets is supported by an experienced founding team with core members hailing from prestigious institutions such as Huazhong Agricultural University, Huazhong University of Science and Technology, and the Chinese Academy of Sciences, as well as leading CROs like WuXi AppTec and Pharmaron. Their diverse backgrounds span human drug development, veterinary drug development, and the CRO industry. This unique combination of expertise and a proven track record in practice provides a solid foundation for deeply understanding client needs, effectively addressing pain points, and delivering high-quality services.

Since its establishment nearly two years ago, Newpets has achieved rapid growth and significant milestones, having delivered over 1,000 high-quality laboratory animals, supported three companies in completing re-evaluation tests for feline triple vaccines, conducted efficacy evaluations for dozens of innovative veterinary drugs, and collaborated with Shanghai Jiao Tong University and other institutions to develop two regional standards. The company's highly efficient execution, robust technological capabilities, and strong resource integration expertise form the cornerstone of its sustainable and differentiated competitive advantages, earning widespread recognition from both the industry and institutional partners.

A representative from the lead investor commented: "The pet healthcare and veterinary medicine sector represents a high-growth market segment with robust industrial technological foundations and substantial expansion potential. Despite being a young startup, Newpets has cultivated a unique and differentiated competitive edge through its cross-functional team composition and integrated service model. We believe the company is well-positioned to develop into a 'hidden champion' within this specialized field."

The new funding will significantly accelerate Newpets' growth by enhancing its talent pool, upgrading hardware facilities, and refining its service ecosystem.

Moving forward, Newpets will continue to invest in strengthening its systems and capabilities for laboratory animal breeding, model development, and drug evaluation. This commitment aims to provide clients with increasingly higher-quality services and establish the company as a trusted partner in the field.

The founder of Newpets stated: "Many companion animals suffer from diseases with no approved treatment options. The development of therapeutic veterinary drugs is still in its early stages in China, and the industry faces numerous challenges. This reality, however, is driving significant demand for innovative drug development services. Guided by our mission to 'Enable Healthier and Longer Companionship with Pets,' we remain dedicated to addressing these industry pain points. We will continuously advance our own service systems and capabilities to elevate the technical standards and quality benchmarks of innovative veterinary drugs, thereby accelerating the growth of the entire industry."