Biotech startup Loyal announces $45m Series B financing to support development of approved dog lifespan extension drug

Loyal, a biotech company pioneering longevity drugs for dogs, announced it has completed its Series B funding round, securing $45 million in investment. The round was led by Bain Capital Ventures. This brings total funding raised by Loyal to more than $125 million since its founding in 2019 and includes a $12 million credit facility from Bridge Bank, part of Western Alliance Bank. This funding will support continued development with expected product launch in early 2025, pending FDA approval.

Most major existing investors from Loyal’s previous financings – including Khosla Ventures, First Round Capital, Box Group, Collaborative Fund, Quiet Capital, and Todd & Rahul’s Angel Fund – participated in this round. Bain Capital Ventures and Valor Equity Partners are new investors.

Celine Halioua, Founder and CEO, Loyal: ''This fundraise fuels our efforts to bring to market what we hope will be the first FDA-approved drug to extend healthy lifespan. 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.''

Kevin Zhang, Partner, Bain Capital Ventures: ''Celine and her innovative, passionate, and responsible team at Loyal are making fast progress toward approved longevity medicines .For the 65 million households in America with a dog, Loyal’s promise means longer, healthier dog lives – more priceless memories of excited greetings at the door, games of fetch in the park, and cozy afternoons together on the couch.''

Loyal currently has three drugs in development to extend healthy lifespan in dogs. 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 company anticipates that LOY-002 will be available in early 2025, pending FDA conditional approval.

www.loyalfordogs.com