Mesenchymal stem cell (MSC) drug development requires high-quality consumables, culture medium, and environment. Cost control is essential for enterprises.
Mitoch Biomedical Technology (Chinese: 觅投克生物) recently announced that it completed CNY 10 million angel financing earlier this year, which was invested by FreesFund (Chinese: 峰瑞资本).
This round of financing was used for the construction of the laboratory and the initial establishment of the R&D team. Mitoch has established the primary process and quality control system of cell culture and has evaluated the drug’s efficacy against several common elderly diseases of pets, such as muscle atrophy and inflammatory enteritis.
Mitoch is a pet biopharmaceutical company founded in 2021. It focuses on developing cell therapy drugs to improve the life quality of elderly pets and enhance the happiness of pet owners.
According to the 2021 China Pet Medical Industry Research Report, the market size of pet medicine has exceeded CNY 60 billion (USD 86.24 million). The growth rate and market share of the pet medical industry have exceeded the overall performance of the pet industry. The medical market size is expected to exceed CNY 100 billion by 2025.
MSCs, the main cell therapy drugs developed by Mitoch, have been reported safe and effective in immune regulation, anti-inflammatory, promoting neurovascular regeneration, protecting damaged cells and tissue repair.
Overseas companies have conducted clinical trials of MSC drugs to treat osteoarthritis, cartilage or ligament damage in dogs, cats and horses. The EU has approved the marketing of two MSC drugs of Boehringer Ingelheim against cartilage injury and tendon ligament injury in horses. Currently, there is no application of stem cell drugs for pet diseases in China.