Zoetis Announces Agreement to Acquire Basepaws, an Innovative Leader in Petcare Genetics, to Strengthen its Portfolio of Precision Animal Health Solutions
June 07 2022 - 8:30AM
Business Wire
-- Basepaws’ database of feline genomics will
enhance Zoetis’ R&D capabilities and inform future innovations
from Zoetis
Zoetis Inc. (NYSE:ZTS) today announced an agreement to acquire
Basepaws, a privately held petcare genetics company, which provides
pet owners with genetic tests, analytics and early health risk
assessments that can help manage the health, wellness and quality
of care for their pets. The acquisition will advance Zoetis’
portfolio in the precision animal health space and will inform and
shape its future pipeline of petcare innovations. Financial terms
of the agreement are not being disclosed.
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Basepaws helps pet owners and
veterinarians understand an individual pet’s risk for disease and
can lead to more meaningful engagements and increased likelihood of
early detection and treatment of disease. (source: Zoetis)
As a pioneer in petcare genetics, Basepaws offers easy to use,
genetic screening tools for the early detection of disease risk in
pets, as well as individualized breed and health reports that can
identify traits, biomarkers and potential hereditary conditions for
pets. Basepaws helps pet owners and veterinarians understand an
individual pet’s risk for disease and can lead to more meaningful
engagements and increased likelihood of early detection and
treatment of disease.
“The Basepaws team has done an amazing job demonstrating how
genetic testing and data can improve how we care for the pets in
our lives,” said Abhay Nayak, Executive Vice President of Strategy,
Accelerated Growth Businesses and Commercial Development. “With the
addition of Basepaws, Zoetis will continue to strengthen our
portfolio of products for precision animal health, across genetics,
diagnostics and data analytics for pets and livestock. We are also
excited by how Basepaws’ feline genomic and microbiome database
will help enhance our R&D capabilities and inform the future of
our petcare pipeline.”
“Basepaws and Zoetis both consist of pet lovers with a passion
for science, and our mission is to create better and longer lives
for our pets through knowledge and data,” said Basepaws CEO Anna
Skaya, who founded the company in 2017. “We look forward to
expanding our business and the impact of our genetic products with
the global scale and R&D experience of Zoetis, the world leader
in animal health. We believe that together we can bring the
benefits of a more proactive healthcare approach to pet parents
around the world.”
Pioneering Petcare Genetics with Rich Science and a Start-up
Mentality
Basepaws developed and markets a comprehensive DNA test for cats
and the world’s first at-home oral health test for cats, with plans
to expand into the dog market. Today, Basepaws’ genetic testing
services are primarily marketed directly to pet owners in the U.S.,
and include its popular Breed + Health Cat DNA Test. Using its
world-class feline genomic database, this test can estimate a cat’s
genetic similarity to more than 21 breed types and 4 breed regions,
and it provides results for over 115 known feline genetic markers —
65 markers for genetic health conditions and 50 markers for
traits.
Basepaws also has one of the world’s largest feline genomic and
oral microbiome databases, which is a rich resource to validate
traits and health conditions for today’s cats, while also informing
future research and development efforts and targets. Zoetis’
R&D organization has brought game-changing innovation to
petcare over the last 10 years in dermatology, parasiticides and
pain, and the Basepaws database will help refine and inform the
company’s pipeline and future targets.
About Basepaws
Basepaws is a petcare genetics company that builds early
detection health risk tests based on genetic and microbiome data.
Basepaws is committed to companion animal health research, and it
has the world’s first at-home genetic testing platform for cats.
Founded in 2017 by Anna Skaya, the company is based in Los Angeles,
CA. For more information, visit www.basepaws.com.
About Zoetis
As the world’s leading animal health company, Zoetis is driven
by a singular purpose: to nurture our world and humankind by
advancing care for animals. After 70 years innovating ways to
predict, prevent, detect, and treat animal illness, Zoetis
continues to stand by those raising and caring for animals
worldwide – from livestock farmers to veterinarians and pet owners.
The company’s leading portfolio and pipeline of medicines,
vaccines, diagnostics and technologies make a difference in over
100 countries. A Fortune 500 company, Zoetis generated revenue of
$7.8 billion in 2021 with approximately 12,100 employees. For more
information, visit www.zoetis.com.
DISCLOSURE NOTICES
Forward-Looking Statements: This
press release contains forward-looking statements, which reflect
the current views of Zoetis with respect to: expectations regarding
the performance of acquired companies and our ability to integrate
new businesses; expectations regarding the financial impact of
acquisitions; business plans or prospects, future operating or
financial performance, future guidance, future operating models;
R&D costs; timing and likelihood of success; expectations
regarding products, product approvals or products under
development, expected timing of product launches; the impact of the
coronavirus (COVID-19) global pandemic and any recovery therefrom
on our business, supply chain, customers and employees; future use
of cash, dividend payments and share repurchases; tax rate and tax
regimes and any changes thereto; and other future events. These
statements are not guarantees of future performance or actions.
Forward-looking statements are subject to risks and uncertainties.
If one or more of these risks or uncertainties materialize, or if
management's underlying assumptions prove to be incorrect, actual
results may differ materially from those contemplated by a
forward-looking statement. Forward-looking statements speak only as
of the date on which they are made. Zoetis expressly disclaims any
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.
A further list and description of risks, uncertainties and other
matters can be found in our Annual Report on Form 10-K for the
fiscal year ended December 31, 2021, including in the sections
thereof captioned “Forward-Looking Statements and Factors That May
Affect Future Results” and “Item 1A. Risk Factors,” in our
Quarterly Reports on Form 10-Q and in our Current Reports on Form
8-K. Such risks and uncertainties may be amplified by the COVID-19
global pandemic and its potential impact on the global economy and
our business. These filings and subsequent filings are available
online at www.sec.gov, www.zoetis.com, or on request from
Zoetis.
ZTS-COR ZTS-IR ZTS-FIN
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version on businesswire.com: https://www.businesswire.com/news/home/20220606005978/en/
Media Contacts: Bill Price
1-973-443-2742 (o) William.price@zoetis.com
Kristen Seely 1-974-443-2777 (o) Kristen.seely@zoetis.com
Anna Skaya 1-949-426-9229 (o) anna@basepaws.com
Investor Contact Steve Frank
1-973-822-7141 steve.frank@zoetis.com
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