adivo and the EIC Accelerator: Dog Antibodies Bought by Zoetis
Antibody drugs have transformed human medicine, but dogs given antibodies made from other species can react against them. adivo, a company founded in 2018 in Planegg near Munich, built what the EU project record calls "the first fully canine phage-display library", a way to find antibodies that are entirely canine and so better suited for use in dogs.
The European Innovation Council committed €2,436,866 towards a €3.48 million project, CAESAR IBD, to develop an antibody for inflammatory bowel disease in dogs. In the third quarter of 2023 the US animal health group Zoetis completed the acquisition of adivo, according to its quarterly SEC filing, and on 21 November 2023 the EU grant was terminated, five months before its planned end.
Company file
- Legal entity
- adivo GmbH, HRB 240037, Amtsgericht München, Planegg
- Founded
- April 2018
- Technology
- Fully canine phage-display antibody library
- Lead programme
- Antibody for canine inflammatory bowel disease
- Former investor
- MorphoSys AG, sold its stake June 2023
- Owner
- Zoetis Inc., since Q3 2023
- EIC project
- CAESAR IBD, 1 May 2022, terminated 21 Nov 2023
- EIC funding
- Blended finance
Where adivo Stands Today
adivo is a subsidiary of Zoetis. Zoetis's filing for the quarter to September 2023 describes it as "a privately held research and development stage animal health biopharmaceutical company based in Germany" and says the purchase "did not have a material impact" on its accounts; the price was not disclosed. The German register data compiled by North Data show the company still active, with management changes through June 2026. The adivo.vet domain now redirects to Zoetis's website.
The Technology: Antibodies Made for Dogs
Many antibody drugs for animals start from antibodies of another species that are then modified, which, according to the CORDIS fact sheet, can trigger immune responses in the treated animal. adivo's library contains canine antibody sequences from the start, so candidates are fully canine. CAESAR IBD applied it to inflammatory bowel disease, a chronic condition in dogs.
"The first fully canine phage-display library to generate therapeutic antibodies specific for dogs."
CAESAR IBD project description, CORDISWhat the EIC Project Promised, and What CORDIS Shows
The EIC project
The EU committed 70% of a €3.48M project
CAESAR IBD was planned to run from May 2022 to April 2024 and was terminated on 21 November 2023. The amount actually paid is not public. The award was blended finance.
CORDIS project 190130497. Values in € millions.
The project forecast €41 million in profits in the first five years of commercialisation and more than 15 jobs. CORDIS lists it as terminated on 21 November 2023 and publishes no results. The termination followed the Zoetis acquisition; EIC Accelerator grants are for small and medium-sized companies, and the reason for the termination is not stated.
The clock
How much of the project ran
Months from the project start (May 2022) to termination (November 2023), against the planned 24 months.
CORDIS project 190130497.
- A canine antibody platformDeliveredDescribed on CORDIS.
- An IBD drug candidateUnknownNo results published.
- Project completed under the EICMissedTerminated November 2023.
- A strategic ownerDeliveredBought by Zoetis.
What Has Happened Since the Award
The record
From EIC award to Zoetis subsidiary
adivo was bought by Zoetis about a year into its EIC project, and the EU grant agreement was terminated in November 2023.
- Apr 2018Foundedadivo GmbH, Planegg near Munich
- Oct 2021EIC Accelerator cut-offCAESAR IBD: canine antibodies for inflammatory bowel disease
- May 2022EIC project startsFully canine phage-display library€2.44M grant
- Jun 2023MorphoSys exitsSells its stake to a strategic investor; €6.3M gain
- Q3 2023AcquiredZoetis completes the purchase of adivoZoetis
- Nov 2023EIC project terminatedFive months before its planned end
CORDIS, SEC filings of Zoetis and MorphoSys, and German register data via North Data.
The Money
MorphoSys, the German antibody company, held a stake in adivo and, according to its half-year report, sold it "to a strategic investor" on 7 June 2023 at a gain of €6.3 million. Zoetis did not disclose what it paid. How much of the €2.44 million EU grant was paid out before the termination, and whether any was recovered, is not public. We found no EIC Fund investment.
What cannot be checked
The acquisition price, the grant money actually paid, and whether the IBD antibody is still being developed inside Zoetis are not public.
Why Europe Should Care
adivo is an exit: a German start-up with an EU-backed technology bought by a US animal health group. Zoetis did not disclose the price, so what its investors received is not public. For the EU, the result is that a grant project it co-funded ended early and its outcome now sits inside a US group, with no public report.
What the project promised
Fully canine therapeutic antibodies for dogs, starting with inflammatory bowel disease.
What the record shows
An acquisition by Zoetis and a terminated EU grant, with no published project results.
The Verdict
A good exit, a closed book
Zoetis bought adivo within about a year of the EIC project starting and has not said why or for how much. But the EU-funded project was cut short, and what it achieved, and what the EU paid for it, is not in the public record.
adivo and Zoetis have not been asked for comment for this article. It is based entirely on EU project data, SEC filings and German register information, linked throughout.
Industry
HealthAnimal health
- Focus
- Veterinary biologics
- Technologies
- Monoclonal antibodies
- Protein engineering
- Keywords
- Companion animals
- Inflammatory bowel disease
- Pet health
- Canine antibodies
- Phage display