Loyal Announces $45M Series B to Extend the Lifespan for Dogs
Gunderson Dettmer represented client Loyal, a biotech company founded for dogs, in its $45 million Series B financing led by Bain Capital Ventures. By targeting the underlying mechanisms of aging, Loyal hopes to extend the lifespan of dogs and maintain their quality of life as they age. Loyal currently has three drugs in development, LOY-001 and LOY-003 are designed to extend the healthy lifespan of large-breed dogs, and LOY-002 is designed for senior dogs 14 pounds and over. The new capital will be used to support continued development with expected product launch in early 2025, pending FDA approval.
This financing follows Loyal receiving the first-ever FDA acceptance for the Reasonable Expectation of Effectiveness for its LOY-001.
In the announcement of the transaction, Loyal CEO Celine Halioua said, “All of our work is centered on giving dogs longer, healthier lives. I’m proud of the work the team has done to date and we have a very important and challenging vision to realize. I’m excited to work with our new and existing investors and continue to make FDA-approved dog longevity drugs a reality.”
The Gunderson Dettmer deal team was led by Michael Allers and included Jesse Birbach, Madeleine Vella, Allison Giebisch and Jessica Hart.