TNG Pharmaceuticals, Inc. (TNG), an animal pharmaceutical company developing vaccine for cattle to aid in control of the horn fly, announced that it completed a $4.6 million Series A Preferred Stock financing on December 31, 2013.
The company's FlyVax product is a patented vaccine designed to significantly reduce the damage caused by horn flies, thus improving the health and wellbeing of cattle. The veterinary vaccine, first developed by research scientists at Auburn University and licensed by TNG, has been shown to be effective in initial laboratory testing.
According to Serge Martinod (DVM, PhD), CEO of TNG, "This important round of funding will allow us to complete all phases of product development necessary to commercialize the vaccine in a timely fashion."
Phoebe Wood, Executive Chairman, added, "We are pleased that TNG was able to attract a group of outstanding investors led by the Yearling Fund. Other investors include Angel Investor Investment Management Group, Bluegrass Angels, Commonwealth Seed Capital, Goose Society of Texas, the Ogle Foundation, Texas Halo Fund, the University of Louisville Foundation and several individual and institutional investors. We believe the company is well positioned for future growth and its revolutionary product will lead to tremendous monetary savings for the cattle industry."
TNG Pharmaceuticals is a animal pharmaceutical company focused on the development of its patented vaccine for cattle, FlyVax, to aid in control of the horn fly.
((Comments on this story may be sent to firstname.lastname@example.org))