Swiss biotechnology company ASTRA Therapeutics has secured CHF 7.75 million in seed financing to advance its novel approach to combating parasitic infections in animals. The funding round was co-led by German venture capital firm MIG Capital and U.S.-based Digitalis Ventures, with additional participation from Borealis Ventures, Kickfund, and Venture Kick.
Founded in 2022 and based at the Park InnovAARE innovation campus in Villigen, Switzerland, ASTRA Therapeutics develops precision drugs against eukaryotic pathogens using its proprietary ParaX® platform. The company's approach focuses on creating species-specific drug candidates that target tubulin in parasites while sparing host animals.
Addressing Critical Market Need
The global parasiticide market represents a significant commercial opportunity, valued at over $10 billion and growing at a compound annual growth rate of 5.6%. However, the veterinary medicine sector faces mounting challenges from drug resistance, with some regions reporting up to 98% of heartworm cases already resistant to standard therapies.
"The animal health market is facing an ever-increasing need for novel anti-parasite drugs to combat the growing threat of drug resistance, ensure the health and welfare of our pets, and maintain healthy and efficient food production," said Dr. Natacha Gaillard, Founder and Co-CEO of ASTRA Therapeutics.
Proprietary Technology Platform
ASTRA's ParaX® platform generates novel drug candidates called Parabulins®, which are New Molecular Entities (NMEs) designed to inhibit cell division in parasites. The company's pipeline encompasses over 15 patentable chemical classes featuring nanomolar-potent candidates targeting common parasites including coccidia in farm animals and heartworm in dogs and cats.
"Our platform is designed to exploit structural differences between essential proteins in parasites and the host animals, enabling creation of new drugs that should be both effective and safe," explained Dr. Ashwani Sharma, also Founder and Co-CEO of ASTRA Therapeutics.
The company has already demonstrated initial in vivo proof of concept for multiple NMEs, positioning it to address critical gaps in the veterinary parasiticide market.
Commercial Potential and Strategic Positioning
ASTRA targets substantial revenue opportunities within the veterinary sector, with projections of over $800 million annually for coccidiosis treatments and $2.4 billion annually for worm control applications. This positioning comes at a crucial time when established products face patent expiry while resistance issues create urgent demand for new therapeutic options.
"We see tremendous commercial potential for new drugs that control worms including heartworm in dogs and cats, and coccidiosis in poultry and swine production," said Andreas Kastenbauer, Partner at MIG Capital. "With renowned structural biologists Dr. Natacha Gaillard and Dr. Ashwani Sharma in the lead and strong support from a team of market and business developers experienced in drug discovery, licensing and biotech financing, this is the right company to achieve success."
Investment Strategy and Market Expansion
The investment represents MIG Capital's expanding engagement in the rapidly growing veterinary medicine market. In 2024, the German VC firm acquired a stake in HawkCell, a French startup developing MRI and CT imaging for animal applications. ASTRA Therapeutics marks MIG Capital's first investment in Switzerland and its second new investment this year.
MIG Fonds 17 and 18 allocated CHF 3 million of the total funding round, supporting ASTRA's mission to develop drugs that selectively target parasites while sparing host animals. The company addresses medical and veterinary challenges characterized by increasing drug resistance, expiring patents, and a growing global parasiticide market.
