$4m raised

Milestone funding for animal health firm MI:RNA

Dr Eve Hanks at Kisaco Research awards

An animal health diagnosis company has raised $4 million in Series A funding to help it develop treatments and wellness among for pets and farm stock.

MI:RNA, which in 2021 was the first spin-out company from Scotland’s Rural College, is working on the early detection of diseases through improvements in diet and exercise.

Funds have been raised from eight investors in three continents, including new investors, NovaQuest (Lead Investor), Kyoritsu Holdings (owner of a Japanese animal health company), VANE (Angel Syndicate), Animal Health Angels, and Companion Fund I, LLC

Existing investors adding to the series A round are Gabriel, Equity Gap and Scottish Enterprise.

Eve Hanks, CEO and founder, said: “Following on from our successful seed funding round from Gabriel Investments and Equity Gap, Series A is an important milestone in our global growth plans.”

Drawing on her experience as a vet and research scientist, she created a blood test that uses artificial intelligence to help analyse micro-RNA molecules to diagnose heart disease long before symptoms begin to show.

As well as its flagship test for heart disease in cats and dogs, MI:RNA is also developing tests for other diseases, including those that affect production animals, such as cows and sheep.

MI:RNA reached the final of the Converge Challenge in both 2020 and 2021, with Ms Hanks also carrying off the top prize in Converge’s 2020 pitching competition.

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