TARGAN obtains 35 million dollars to market a new vaccine

It will also help market a gender identification system

June 16, 2022

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2 minute read

ARGAN recently announced that it has secured $35 million in Series C equity financing, which will enable it to accelerate the commercialization of its automated and individualized poultry vaccination and sex identification systems.

TARGAN integrates its proprietary technologies consisting of high-speed imaging, feature recognition, artificial intelligence, robotics and microfluidics into a system currently being developed for the commercial poultry industry. This system can individually and accurately vaccinate up to 100,000 chicks per hour against diseases such as coccidiosis, infectious bronchitis and Newcastle disease. Additionally, TARGAN has developed a unique, fully automated system that can determine the sex of individual chicks to enable separate sex rearing by poultry producers.

“Since its inception, TARGAN’s goal has been to meet the growing global demand for a healthier and more sustainable food supply through the development and application of new technologies,” said Ramin Karimpour, Founder and CEO. by Targan. “We are delighted that our great progress has resulted in NovaQuest joining our existing investors in this series.”

“With this round, we will launch our technologies for targeted and individual vaccination and sex sorting for poultry,” he continued. “Accurate bird vaccination allows poultry producers to protect every bird against harmful diseases and greatly reduces reliance on chemicals, therapeutics and antibiotics. In addition, automatic sex identification will allow breeding by sex separated that reduces feed cost and waste while optimizing bird nutrition.”

Merck Animal Health has supported TARGAN’s journey from the start, said Stephen Murray, Head of Merck Animal Health Ventures.

“It is gratifying to watch the team continue to grow and develop their breakthrough technology for poultry customers around the world,” he said. “We are excited to continue supporting the journey and the ongoing partnership.”

Mountain Group Partners Director Rob Readnour said his company was also pleased to continue supporting TARGAN.

“The pandemic has only further underscored the need to create technologies that reduce labor and improve bird health,” he said. “TARGAN does this through highly innovative technology. Additionally, we are very pleased to include NovaQuest in the Investor Syndicate. Their vast experience in biotechnology investing will be very helpful as TARGAN progresses towards commercialization complete.”

“We are delighted to co-lead the Series C round with an outstanding syndicate of investors. TARGAN’s impressive technology and team are well positioned to bring significant innovation to the hatchery, where poultry production begins,” said said Brian Axe, managing director of NovaQuest Capital Management.

Irene B. Bowles