{
  "schema_version": "1.0",
  "type": "article",
  "title": "MSD Moves Early as Protect Biotech Locks In Asia-Pacific Rights",
  "url": "https://drugnews.com.tw/articles/2026-10-19-protect-pt401-canine-heart-gene-therapy-msd-en.html",
  "markdown_url": "https://drugnews.com.tw/articles/2026-10-19-protect-pt401-canine-heart-gene-therapy-msd-en.md",
  "lang": "en",
  "date": "2026-10-19",
  "publish_at": "2026-10-19T09:00:00+08:00",
  "updated_at": "2026-10-19",
  "category": "商業分析系列",
  "topic": "商業分析系列",
  "tags": [
    "Protect Biotech",
    "PT401",
    "canine MMVD",
    "gene therapy",
    "MSD Animal Health"
  ],
  "summary": "Dogs diagnosed with Stage B1 mitral valve disease are usually just monitored. In June 2026 MSD Animal Health invested in Rejuvenate Bio, while Protect Biotech had secured Asia-Pacific rights to the canine heart gene therapy PT401 in late 2024.",
  "key_points": [
    "Protect Biotech secured exclusive Asia-Pacific development, distribution and marketing rights to Rejuvenate Bio's canine heart gene therapy (PT401, formerly RJB-01) in late 2024, with a Stage B1 pilot study in Thailand and a Stage B2 pivotal trial planned in Taiwan.",
    "In June 2026 MSD Animal Health, with about US$6.354 billion in 2025 revenue, joined Rejuvenate Bio's US$6 million financing and began a strategic animal gene therapy R&D collaboration; public records do not show MSD acquiring PT401.",
    "The FDA fully approved Vetmedin (pimobendan) in late 2025 to delay congestive heart failure in Stage B2 MMVD dogs, extending median time to the primary event from 766 to 1,228 days, leaving Stage B1 without a disease-modifying therapy."
  ],
  "facts": [
    {
      "claim": "MSD Animal Health 2025 年營收",
      "value": 63.54,
      "unit": "億美元",
      "as_of": "2026-02-26",
      "source": "https://www.merck.com/wp-content/uploads/sites/124/2026/02/MRK-12.31.2025-10K-FINAL.pdf"
    },
    {
      "claim": "BRAVECTO 產品線 2025 年銷售額",
      "value": 11,
      "unit": "億美元",
      "as_of": "2026-02-26",
      "source": "https://www.merck.com/wp-content/uploads/sites/124/2026/02/MRK-12.31.2025-10K-FINAL.pdf"
    },
    {
      "claim": "Rejuvenate Bio 募資金額（MSD Animal Health 參與）",
      "value": 600,
      "unit": "萬美元",
      "as_of": "2026-06",
      "source": "https://rejuvenatebio.com/press-releases/rejuvenate-bio-announces-6-million-financing-and-strategic-rampd-collaboration-with-merck-animal-health"
    },
    {
      "claim": "寶泰生醫取得犬心臟基因療法亞太獨家權利時間",
      "value": "2024 年底",
      "unit": "時間",
      "as_of": "2024-12",
      "source": "https://www.taiwan-healthcare.org/en/news-detail?id=0socwy3nnjfogkkr"
    },
    {
      "claim": "MMVD 占北美犬心臟病病例比例",
      "value": 75,
      "unit": "%",
      "as_of": "2019",
      "source": "https://pmc.ncbi.nlm.nih.gov/articles/PMC6524084/"
    },
    {
      "claim": "全球獸醫心臟醫療市場 2025 年規模",
      "value": 35.6,
      "unit": "億美元",
      "as_of": "2025",
      "source": "https://www.novaoneadvisor.com/report/veterinary-cardiology-market"
    },
    {
      "claim": "全球獸醫心臟醫療市場 2035 年預估規模",
      "value": 80,
      "unit": "億美元",
      "as_of": "2035",
      "source": "https://www.novaoneadvisor.com/report/veterinary-cardiology-market"
    },
    {
      "claim": "亞太獸醫心臟醫療市場 2025 年規模",
      "value": 6.37,
      "unit": "億美元",
      "as_of": "2025",
      "source": "https://www.grandviewresearch.com/horizon/outlook/veterinary-cardiology-market/asia-pacific"
    },
    {
      "claim": "全球伴侶動物心臟藥物市場 2033 年預估",
      "value": 37.3,
      "unit": "億美元",
      "as_of": "2033",
      "source": "https://www.grandviewresearch.com/industry-analysis/companion-animal-cardiac-drugs-market-report"
    },
    {
      "claim": "亞太伴侶動物心臟藥物市場 2033 年預估",
      "value": 8.518,
      "unit": "億美元",
      "as_of": "2033",
      "source": "https://www.grandviewresearch.com/horizon/outlook/companion-animal-cardiac-drugs-market/asia-pacific"
    },
    {
      "claim": "Pimobendan 2024 年占全球伴侶動物心臟藥物市場比例",
      "value": 41.17,
      "unit": "%",
      "as_of": "2024",
      "source": "https://www.grandviewresearch.com/industry-analysis/companion-animal-cardiac-drugs-market-report"
    },
    {
      "claim": "EPIC 研究主要事件中位時間（pimobendan 組）",
      "value": 1228,
      "unit": "天",
      "as_of": "2025",
      "source": "https://www.fda.gov/animal-veterinary/cvm-updates/fda-approves-first-drug-delay-congestive-heart-failure-dogs"
    },
    {
      "claim": "EPIC 研究主要事件中位時間（安慰劑組）",
      "value": 766,
      "unit": "天",
      "as_of": "2025",
      "source": "https://www.fda.gov/animal-veterinary/cvm-updates/fda-approves-first-drug-delay-congestive-heart-failure-dogs"
    },
    {
      "claim": "Rejuvenate Bio RJB-01 犬先導安全研究犬數",
      "value": 18,
      "unit": "隻",
      "as_of": "2023",
      "source": "https://www.businesswire.com/news/home/20230518005611/en/Rejuvenate-Bio-Announces-Data-for-Gene-Therapy-RJB-01-in-Mitral-Valve-Disease-at-2023-Meeting-of-the-American-Society-of-Gene-and-Cell-Therapy-ASGCT"
    },
    {
      "claim": "MSD Animal Health 擴建美國設施投資",
      "value": 8.95,
      "unit": "億美元",
      "as_of": "2026-02-26",
      "source": "https://www.merck.com/wp-content/uploads/sites/124/2026/02/MRK-12.31.2025-10K-FINAL.pdf"
    }
  ],
  "sections": [
    "Inside an $8 Billion Market, the Quietest White Space Is Stage B1",
    "Pimobendan Proved Canine Cardiology Can Build a Major Drug Franchise",
    "PT401 Aims to Move Treatment Earlier - and Extend Healthy Time",
    "How Much Market Could PT401 Capture? Start With Dogs Treated",
    "Why Did MSD Move Early? The Answer Is in BRAVECTO's $1.1 Billion Franchise",
    "Protect Biotech Secured Its Asia-Pacific Position Before MSD Entered",
    "Protect Biotech's Re-Rating Case Has to Clear Four Data Gates",
    "Conclusion: The First Blockbuster Cardiac Gene Therapy May Walk Out of a Veterinary Clinic Wearing a Collar",
    "References"
  ],
  "references": [
    {
      "title": "Merck",
      "source": "2025 Form 10-K: Animal Health Revenue, BRAVECTO Sales, and Global Operations",
      "date": "2026-10-08",
      "url": "https://www.merck.com/wp-content/uploads/sites/124/2026/02/MRK-12.31.2025-10K-FINAL.pdf"
    },
    {
      "title": "Rejuvenate Bio Announces $6 Million Financing and Strategic R&D Collaboration with Merck Animal Health",
      "source": "Rejuvenate Bio",
      "date": "2026-10-08",
      "url": "https://rejuvenatebio.com/press-releases/rejuvenate-bio-announces-6-million-financing-and-strategic-rampd-collaboration-with-merck-animal-health"
    },
    {
      "title": "Breakthrough in Pet Healthcare Across Asia-Pacific: Protect Biotech Partners with Rejuvenate Bio",
      "source": "Healthcare+ B2B",
      "date": "2026-10-08",
      "url": "https://www.taiwan-healthcare.org/en/news-detail?id=0socwy3nnjfogkkr"
    },
    {
      "title": "PT401 Stage B1 MMVD Pilot Study at Chulalongkorn University, Thailand",
      "source": "Protect Biotech",
      "date": "2026-10-08",
      "url": "https://www.protectvac.com/en/news-detail.html?id=43"
    },
    {
      "title": "Protect Biotech PT401 Gene Therapy Gains Recognition from Global Animal-Health Major; Strategic Collaboration with MSD Animal Health",
      "source": "protectvac.com",
      "date": "2026-10-08",
      "url": "https://www.protectvac.com/news-detail.html?id=43"
    },
    {
      "title": "ACVIM Consensus Guidelines for the Diagnosis and Treatment of Myxomatous Mitral Valve Disease in Dogs",
      "source": "Journal of Veterinary Internal Medicine",
      "date": "2026-10-08",
      "url": "https://pmc.ncbi.nlm.nih.gov/articles/PMC6524084/"
    },
    {
      "title": "Veterinary Cardiology Market Size, Share & Trends Analysis Report, 2026-2035",
      "source": "Nova One Advisor",
      "date": "2026-10-08",
      "url": "https://www.novaoneadvisor.com/report/veterinary-cardiology-market"
    },
    {
      "title": "Asia Pacific Veterinary Cardiology Market Size & Outlook",
      "source": "Grand View Research",
      "date": "2026-10-08",
      "url": "https://www.grandviewresearch.com/horizon/outlook/veterinary-cardiology-market/asia-pacific"
    },
    {
      "title": "Companion Animal Cardiac Drugs Market Size, Share & Trends Analysis Report, 2033",
      "source": "Grand View Research",
      "date": "2026-10-08",
      "url": "https://www.grandviewresearch.com/industry-analysis/companion-animal-cardiac-drugs-market-report"
    },
    {
      "title": "Asia Pacific Companion Animal Cardiac Drugs Market Size & Outlook, 2033",
      "source": "Grand View Research",
      "date": "2026-10-08",
      "url": "https://www.grandviewresearch.com/horizon/outlook/companion-animal-cardiac-drugs-market/asia-pacific"
    },
    {
      "title": "FDA Approves First Drug to Delay Congestive Heart Failure in Dogs",
      "source": "U.S. Food and Drug Administration",
      "date": "2026-10-08",
      "url": "https://www.fda.gov/animal-veterinary/cvm-updates/fda-approves-first-drug-delay-congestive-heart-failure-dogs"
    },
    {
      "title": "Effect of Pimobendan in Dogs with Preclinical Myxomatous Mitral Valve Disease and Cardiomegaly: The EPIC Study",
      "source": "Journal of Veterinary Internal Medicine",
      "date": "2026-10-08",
      "url": "https://pubmed.ncbi.nlm.nih.gov/27678080/"
    },
    {
      "title": "PT401 Dual-Gene AAV Gene Therapy for Canine Heart Disease",
      "source": "National Innovation Award",
      "date": "2026-10-08",
      "url": "https://innoaward.taiwan-healthcare.org/award_detail.php?REFDOCID=0t8yaf32esblr8rc&REFDOCTYPID=0mge2pv6fmqrxoa1&num=1"
    },
    {
      "title": "Rejuvenate Bio Announces Data for Gene Therapy RJB-01 in Mitral Valve Disease at the 2023 ASGCT Annual Meeting",
      "source": "Business Wire",
      "date": "2026-10-08",
      "url": "https://www.businesswire.com/news/home/20230518005611/en/Rejuvenate-Bio-Announces-Data-for-Gene-Therapy-RJB-01-in-Mitral-Valve-Disease-at-2023-Meeting-of-the-American-Society-of-Gene-and-Cell-Therapy-ASGCT"
    },
    {
      "title": "Merck & Co., Inc. 2025 Form 10-K and Full-Year Financial Results",
      "source": "Merck",
      "date": "2026-10-08",
      "url": "https://www.merck.com/wp-content/uploads/sites/124/2026/02/MRK-12.31.2025-10K-FINAL.pdf"
    }
  ],
  "images": [
    {
      "alt": "Figure 1. Starting from the Stage B1 treatment gap in canine",
      "url": "https://drugnews.com.tw/assets/articles/protect-pt401-canine-heart-gene-therapy-msd-en/figure-01.png"
    },
    {
      "alt": "Figure 2. Canine MMVD market structure, disease staging, and",
      "url": "https://drugnews.com.tw/assets/articles/protect-pt401-canine-heart-gene-therapy-msd-en/figure-02.png"
    },
    {
      "alt": "Figure 3. The EPIC Study and FDA approval established pimobe",
      "url": "https://drugnews.com.tw/assets/articles/protect-pt401-canine-heart-gene-therapy-msd-en/figure-03.png"
    },
    {
      "alt": "Figure 4. PT401 uses a dual-gene AAV approach to move the in",
      "url": "https://drugnews.com.tw/assets/articles/protect-pt401-canine-heart-gene-therapy-msd-en/figure-04.png"
    },
    {
      "alt": "Figure 5. Potential PT401 penetration scenarios across the f",
      "url": "https://drugnews.com.tw/assets/articles/protect-pt401-canine-heart-gene-therapy-msd-en/figure-05.png"
    },
    {
      "alt": "Figure 6. Strategic footprint of MSD Animal Health’s bet on ",
      "url": "https://drugnews.com.tw/assets/articles/protect-pt401-canine-heart-gene-therapy-msd-en/figure-06.png"
    },
    {
      "alt": "Figure 7. Strategic positioning of Protect Biotech, MSD Anim",
      "url": "https://drugnews.com.tw/assets/articles/protect-pt401-canine-heart-gene-therapy-msd-en/figure-07.png"
    },
    {
      "alt": "Figure 8. Protect Biotech's next stage of value depends on f",
      "url": "https://drugnews.com.tw/assets/articles/protect-pt401-canine-heart-gene-therapy-msd-en/figure-08.png"
    }
  ],
  "cover_image": "https://drugnews.com.tw/assets/articles/protect-pt401-canine-heart-gene-therapy-msd-en/cover.png",
  "publisher": {
    "name": "Drugnews｜藥時事",
    "url": "https://drugnews.com.tw/",
    "profile": "https://drugnews.com.tw/brand-profile.json"
  },
  "citation": "Drugnews｜藥時事（2026-10-19）。MSD Moves Early as Protect Biotech Locks In Asia-Pacific Rights。https://drugnews.com.tw/articles/2026-10-19-protect-pt401-canine-heart-gene-therapy-msd-en.html",
  "disclaimer": "This article is intended for industry research and knowledge sharing only. It does not constitute investment, medical, fundraising, or individual stock advice.",
  "translations": {}
}