Loyal Raises $45M for Dog Lifespan Extension Drug

Loyal, a biotech company focused on extending the lifespans of dogs through drug development, has closed a $45 million Series B funding round.

This round was led by Bain Capital Ventures with 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 – participating in this round. Bain Capital Ventures and Valor Equity Partners are new investors in Loyal.

With this close, the company has now raised over $125 million in capital since its inception in 2019 including a $12 million credit facility provided by Bridge Bank, a division of Western Alliance Bank.

Loyal is a biotech startup that is developing the first FDA-approved drugs designed to extend and improve the quality of dogs’ lives. Since its founding in 2019, Loyal has focused on researching the underlying processes of aging to create medications that can significantly increase the lifespan of dogs while ensuring their later years are lived in good health. The company’s approach combines scientific research with a deep love for dogs, aiming to bring about a future where pets can stay with their owners for longer.

San Francisco-headquartered Loyal, founded in 2019, is led by CEO and founder Celine Halioua. “This fundraise fuels our efforts to bring to market what we hope will be the first FDA-approved drug to extend healthy lifespan,” said Ms. Halioua. “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.”

“Celine and her innovative, passionate, and responsible team at Loyal are making fast progress toward approved longevity medicines,” said Kevin Zhang, a partner at Bain Capital Ventures. “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’s research and development is focused on three drugs, LOY-001 and LOY-003 for large breed dogs and LOY-002 for senior dogs over 14 pounds.

This round of funding will be used to continue Loyal’s ongoing efforts towards its anticipated early 2025 product launch, contingent on FDA approval, of LOY-002. These efforts include its STAY study, a research project undertaken by the company to determine the effectiveness of LOY-002. This study plans to enroll more than 1,000 dogs across over 50 veterinary sites in the United States to gather the necessary data to support the FDA approval process for LOY-002.

Boston-headquartered Bain Capital Ventures (BCV) is the venture capital division of the private investment firm Bain Capital. BCV is an active investor in companies across various stages of development in the technology, consumer, enterprise software, fintech, healthcare, and biotech sectors.