Cadmus: An immunotherapy treating the cause of gum disease in pets, not just the damage

The story of Cadmus

Cadmus spun out of Denteric, a human health company formed on University of Melbourne research into the bacteria behind gum disease in humans, and more than twenty years of work establishing how these bacteria drive tissue and bone destruction. Similar processes drive periodontitis in dogs and cats, and Cadmus was formed to bring that science to companion animals.

The problem is familiar to any vet. Today's options are brushing and chewables at home, which owners struggle to keep up, or scaling under general anaesthesia once the disease has set in, and extraction when it has gone too far. None addresses the cause, so it returns.

The solution
Cadmus is developing an immunotherapeutic that targets the bacteria behind the disease. Rather than clearing plaque, it prompts the animal's immune system to neutralise the factors the bacteria rely on to survive, so progression slows or stops and a healthy oral microbiome can re-establish. It is intended as a treatment a vet can give in a routine visit, without anaesthetic.

The investment case
Three things drew us to Cadmus. The first is the gap: a condition most dogs will develop, an existing pathway that only intervenes once damage is done, and no comparable immunotherapy on the market. If Cadmus demonstrates efficacy, it would be in a category of its own.

The second is the people around it. Cadmus was built by the team at Brandon Capital, one of Australasia's largest life sciences investors, who continues to back it alongside a strong co-investor pool with Digitalis Ventures, whose animal health funds are run with Mars Petcare, and Arrow Ventures, whose team is drawn from Pfizer, Zoetis, Boehringer Ingelheim, Dechra and Bayer, investing alongside Movac.

The third is the depth of the science. More than twenty years of research sits behind Cadmus, Denteric's human programme continues alongside it, and the approach can extend from dogs to cats and other markets. The development pathway is relatively clear, and the company is laser-focused on achieving its key milestones.