we've raised another $45M, led by Bain Capital Ventures, bringing total $ raised since I started Loyal 4.5 years ago to $125M
This new $ fuels us to very hopefully! bring the first FDA-approved lifespan extension drug to market in 2025. We have the data, the team, and the path forward — this capital was the last puzzle piece to ensure that, if our vision is possible, we will achieve it.
new investors: Bain Cap and Valor Equity Partners
with existing investors doubling/tripling down including: Khosla, First Round Capital, Box Group, Quiet Capital, Collaborative Fund, Todd & Rahul, + more
Raising a growth round post-ZIRP as a weird company was a great learning experience + I plan to write that up sometime soon. the tl;dr - was crucial to connect use of new capital --> milestones unlocked --> objective increase in company, value *even* in a tough market
We are now running on:
> earning FDA mfg, safety, + RXE approval for LOY-002 (senior dog lifespan extension)
> LOY-002 market launch in 2025
> building out distribution + commercial functions for nationwide supply
> cont'd development of LOY-001 (injectable) and LOY-003 (daily pill) for large dog lifespan ext
Thanks WSJ for covering!