LOUISVILLE, Ky. (Feb. 6, 2014) – TNG Pharmaceuticals Inc., an animal pharmaceutical company developing an innovative vaccine for cattle to aid in control of the horn fly, announced Thursday that it completed a $4.6 million Series A Preferred Stock financing on Dec. 31, 2013.
The company’s FlyVax product is a patented vaccine designed to significantly reduce the damage caused by horn flies, improving the health and wellbeing of cattle. The revolutionary veterinary vaccine, first developed by research scientists at Auburn University and licensed by TNG, has been shown to be effective in initial laboratory testing.
“This important round of funding will allow us to complete all phases of product development necessary to commercialize the vaccine in a timely fashion,” said TNG Pharmaceuticals CEO Serge Martinod (DVM, PhD).
TNG Pharmaceuticals attracted several investors, said Phoebe Wood, TNG executive chairman, led by the Yearling Fund.
“Other investors include Angel Investor Investment Management Group, Bluegrass Angels, Commonwealth Seed Capital, Goose Society of Texas, the Ogle Foundation, Texas Halo Fund, the University of Louisville Foundation and several individual and institutional investors,” Wood said. “We believe the company is well positioned for future growth and its revolutionary product will lead to tremendous monetary savings for the cattle industry.”