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W W W. M A I N E B I Z . B I Z 17 S E P T E M B E R 1 8 , 2 0 2 3 H E A L T H C A R E / W E L L N E S S Its main product is First Defense, which provides immunity against E. coli and other viral infections in newborn dairy and beef calves, reducing the need for traditional antibiotics. Michael Brigham, president and CEO of ImmuCell, says he's "cau- tiously optimistic" it will get FDA approval this year. After completing significant invest- ments to boost capacity, the company was forced to scale back in the first half of 2023 due to contaminated milk supplied by farms. e stock has fallen around 37% in the past year. ImmuCell told investors last month that it is conducting product testing at all stages of the process as it gets back to full production. "e contamination is behind us, we just have to complete the backlog and get back to regular business," Brigham says. e 12-person sales team "is scratching and itching and ready to go, so we'll transition them from allocation to new customer acquisitions." ImmuCell is also in the late stages of developing Re-Tain, a treatment for a common disease in lactating cows that costs the dairy industry an esti- mated $2 billion a year. Brigham, who was a CPA and had a finance background, joined ImmuCell in 1989 after dropping his resume off at a recruiter's office while vacationing in Maine. His hope was to create or run a business instead of just auditing them. Initially hired as director of finance and administration, Brigham was promoted to vice president in 1988 and CFO in 1991 before taking the reins as president and CEO in 2000 while still wearing the treasurer and secretary hats. Today, Brigham leads a company with 75 employees — up from 65 nine months ago — and a market capitaliza- tion of around $36.3 million. Hiring remains a priority, with cur- rent openings for two manufacturing associates and a product quality associ- ate. Once the company gets the FDA green light for Re-Tain, Brigham says he expects to add even more hires. Covetrus and the cloud Covetrus, a private equity-backed pro- vider of animal-health technology and services, is also in growth mode. e company, founded as Vets First Choice in 2010, employs 5,700 people, including 277 in Maine. Two focus areas are online prescrip- tion management and Covetrus Pulse, the industry's first cloud-based vet- erinary operating system used by more than 3,000 practices in North America. Over the past year, Covetrus has con- tinued to advance the platform in areas vet practices need the most, including tackling staff management and workflow challenges and strengthening client com- munication, according to Matt Yordy, president of Covetrus North America. "Covetrus estimates veterinarians who use Pulse could schedule an addi- tional 200 to 250 appointments per vet- erinarian each year, increasing revenue for the practice," Yordy says. "In addi- tion, more than 40% of Pulse users are accessing the system on a mobile device, further streamlining operations for vet practices and pet parents alike." Maine Technology Institute was an early investor, providing a $12,500 grant in 2008 to a two-person entity at that time made up of Benjamin and David Shaw. "Follow-on debt and bond-funded infusions in the years that followed helped the firm grow exponentially," says MTI President Brian Whitney. "Just 14 years after conceiving its innova- tive idea and receiving its initial funding from MTI, the company truly emerged as a unicorn." Earlier this year, Covetrus opened a distribution center in Ocala, Fla., to furnish veterinarians in several south- ern states, as well as the Caribbean and U.S. military bases in Europe, with more than 5,000 product offerings to manage their practices as well as medicines made by Covetrus and others. e 62,500-square-foot-plus Ocala facility includes a drive-through option for mobile vets, as well as same-day and scheduled deliveries. "Given the extensive equine presence in the southeast, the company has seen increased demand for products in this category," Yordy says. "is expanded facility also allows for greater inventory depth and operational efficiencies, as well as future operational growth." Asked whether there's room for more animal health startups in Maine, he says, "Absolutely. e animal health industry is a vital and robust part of Maine. ere is always room for start- ups passionate about veterinarians and the animals they care for." Startup stars Among newer startups, ElleVet Sciences is a South Portland-based maker of over-the-counter cannabis products for cats and dogs, including chews, creams, soft gels and oils. e company sells through veterinarians and also directly to customers via its ecommerce site. e company was founded in 2017 by IDEXX alumnus Christian Kjaer and Amanda Howland, who has a background in science and public health. She started probing the use of cannabinoids for animals inspired by her uncle, a cancer research physician in Boston who studied the use of can- nabinoids in humans. Today, the firm employs 50 people. Over the next six months, it plans to hire 12 to 15 more after recently obtain- ing its first patent, for the use of hemp extracts to treat pain and other condi- tions in animals. "is is a huge win for ElleVet and embodies our dedication and belief in the scientific process," says Howland, the company's chief creative officer. "e issuance of this patent proves our long- held belief that hemp is not all the same, that the specific product is where success lies, and that ElleVet is truly the best product for pets." In coming years, the plan is to roll out innovative products for multiple species and enlarge the company's inter- national presence, Howland says: "Our goal is to reach as many people and pets as we can, so we can help any pet who needs safe and effective relief." Agnieszka Carpenter, executive director of the Maine Bioscience Association, lauds the patent news as a big win for both ElleVet and the state's emerging animal health cluster, a small but key part of Maine's $2.2 billion life sciences sector. "Every success story like this one fuels the strength of Maine's animal health hub, which makes it more attractive for investors and new talent," she says. Back at Rarebreed Veterinary Partners, Espinal and Miller have sought to create a positive employee culture at all the practices in their network, in an industry notorious for a high prevalence of stress and job dissatisfaction. Besides offering opportunities for career advancement, profit sharing, a quarterly bonus and continuing educa- tion, Rarebreed "celebrates the people in the practice as the heroes of the story," according to Espinal. Most of the prac- tices are locally owned, with Rarebreed typically taking a 60% to 75% stake. Espinal's longer-term goal: "We'd love to be national at some point, maybe even international." Renee Cordes, Mainebiz senior writer, can be reached at rcordes @ mainebiz.biz F O C U S P H O T O / C O U R T E S Y O F C OV E T R U S Matt Yordy, president of Covetrus North America Covetrus, a provider of animal health technology and services, has a new distribution center in Ocala, Fla. (top right). In Portland (bottom photos), it has a pharmaceutical conveyor belt and product sorter.

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