VANE

We have another reason to celebrate! 👏🏼 VANE is proud of our portfolio company, Jiminy's! Cast your vote 🖐🏼 for the best dog food delivery service at the link below!

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.”  

Congratulations to portfolio company KaloCyte on this excellent feature article published in Science Magazine. For anyone interested in understanding the technology behind ErythroMer, their artificial red blood cell substitute, this publication contains an in depth look at the product along with beautiful illustrations and photos. Amazing technology with the potential to fulfill a highly unmet medical need for both humans and animals. #angelinvesting #bloodsubstitute #artificialblood https://lnkd.in/eJiswkmz

In the latest ACA Data Insights, John Harbison, Chairman Emeritus of TCA Venture Group and ACA Board Member, reports that early stage valuations have remained stubbornly high despite the current downcycle. He proposes numerous factors that may be keeping valuations high. At VANE, we are told by both applicant entrepreneurs and current portfolio companies, that raising money right now is harder than ever. IPO and M&A activity is down. Meanwhile, our members have become increasingly wary of "angel-unfriendly" valuations. So why haven't valuations become more reasonable? John Harbison suggests that valuations may be staying high due to more VC money chasing early stage deals, inexperienced and undisciplined entrepreneurs and investors, AI money, belief in the long-game, FOMO and others. The risks of over-valuation to entrepreneur and investor are significant and need to be seriously considered in every deal. https://lnkd.in/gf6W879P #angelinvesting #valuations #animalhealth #raisingcapital

In Carta’s latest Data Minute, they show that the percent of startups making it from a Seed round to a Series A, in under two years, has decreased significantly. In 2018, 20-24% of startups that raised a Seed round made it to a Series A in less than two years. For startups that raised their Seed in 2022, only 13% have made it to a Series A. Reasons? From our perspective, it seems to be taking longer to raise rounds, investors have increased their thresholds for making investments, startups are resorting to bridge rounds (sometimes multiple times) as the milestones needed to launch a successful Series A have become more substantial. Startups need the support (follow-on investments, introductions, professional advice) of their angel investors now, more than ever! #angelinvesting #animalhealth #startups #entrepreneurs

VANE leadership was out in force this week, presenting, judging and teaching at the Kisaco Animal Health Innovation Summit! *David Haworth shared his insight on “Human Animal Translation: Models for Therapies in Human Development." *Ira Gordan and Natalie Marks educated attendees on “Building an Advisory Board.” *Natalie Marks also moderated “The Life Cycle of an Investment” with esteemed panelists Julia Stephanus and Brian Cassell.  *Julia Stephanus also served as a judge for the Innovation Showcase and Robin Moyle served on the showcase selection committee. #animalhealth #angelinvesting #entrepreneurs #innovation David Haworth, DVM, PhD, Natalie Marks, DVM, CVJ, CFCP, FFCP-Elite, Brian Cassell, Ira Gordon, Julia Stephanus, Robin Moyle

👉🏼 Calling all founders, members, allied partners, colleagues! ❓ Who will be in Boston this week at the Kisaco Animal Health, Nutrition & Technology Innovation Summit? 🙌🏼 Several VANE members are attending and would love to catch up! Brian Cassell Ira Gordon Natalie Marks, DVM, CVJ, CFCP, FFCP-Elite David Haworth, DVM, PhD Julia Stephanus Scott Brown

The VANE Executive Committee rocked the Angel Capital Association Summit last week in Columbus, Ohio! In addition to learning from some of the best in the business, we had a great time networking with entrepreneurs, fellow angels, and industry change makers. Thank you to all of those who made this event possible! Peter Glassman, Natalie Marks, DVM, CVJ, CFCP, FFCP-Elite, Ira Gordon, Brian Cassell, Robin Moyle #angelinvesting #animalhealth

Dalan Animal Health, Inc. are an emerging company providing transformative animal health solutions in the form of the world's first honeybee vaccine. Since 2018, their team has researched, developed, and gained USDA and CFIA conditional licensure for their vaccine that protects against the most devastating bacterial disease affecting honey bees - American Foulbrood disease (AFB), Following their Innovation Showcase win at Animal Health, Nutrition & Technology Innovation Europe 2024 last month, we caught up with the Annette Kleiser and the Dalan Animal Health, Inc. team to hear about their plans for the next few years and get their thoughts this year's showcase. Read their profile and interview below to find out more about this exciting company disrupting the companion animal space. #AHNTI #AnimalHealth #Innovation

VANE is proud to support the new short film, Your Dog, which highlights the mental health challenges experienced by veterinary professionals. The film, written, directed, and produced by award winning filmmaker Danielle Baynes, stars Kate Walsh as an overworked veterinarian struggling with stress, personal demons and ethical dilemma. The film is scheduled to screen at film festivals around the world starting in June and will be available to the veterinary community for private screenings later this summer. The Dog can be used to create awareness and facilitate conversation about mental health in the profession. #veterinarymedicine #mentalhealth #shortfilm https://lnkd.in/gACC8TSu