NESS ZIONA, Israel, Jan. 18, 2022 /PRNewswire/
Mileutis, an Israeli-based biopharmaceutical company revolutionizing how farmers and veterinarians treat a range of diseases, today announced the appointment of two new executives to its Board of Directors. Mr. Bret Kossman and Mr. Ori Inbar join Mileutis as the company is on the cusp of introducing its Imilac™ product, for use in the management, treatment, and prevention of bovine mastitis at dry-off, to the mass market.
The appointment of two seasoned veterans with strong financial, product development, sales, marketing, and agritech experience puts Mileutis in a strong position to tap into the multi-billion-dollar global mastitis market.
“To have such leaders join the Mileutis Board of Directors is significant and illustrates the ambitious goals of the organization to invest in people and technology that will have a significant impact in the sector. Both Bret and Ori bring a wealth of experience to Mileutis and will further strengthen the pioneering work we have been doing for the development of safe and residual-free therapies for animal health,” says David Javier Iscovich, CEO and Co-Founder, Mileutis.
Bret Kossman is a 25-year veteran in global financial markets and investment banking with extensive experience in complex corporate turnarounds and financial restructurings, debt and equity capital raising, and assisting companies and management teams with strategic decisions. Much of Kossman’s work incorporates valuing and investing in businesses undergoing rapid transformation and dealing with uncertain market conditions.
Currently, Kossman is the Managing Director and Head of Research and Analysis for Bank of America Merrill Lynch’s Global Credit and Special Situations Group. Previously, Kossman was the Head of Japan Corporate Principal Investments and Head of Asia Distressed Trading for Merrill Lynch where he led investments in private and public equity, mezzanine, and distressed debt. Prior to joining Merrill Lynch in 2002, he was an investment banker at Salomon Smith Barney/Citigroup in New York and Tokyo where he worked on various capital raising and M&A transactions.
Ori Inbar has over 30 years of experience in the dairy industry and is currently an independent entrepreneur, investor, and consultant in agricultural technologies. For over 18 years Inbar has served as senior executive in SCR Dairy (currently owned by Merck & Co.). Here he played a crucial role in steering the strategy of SCR to make it a world leader in technologies for animal monitoring, transforming the way dairy farmers monitor their cows.
During his 18 years at SCR, Inbar served as a senior executive and Vice-President for Marketing, Sales, and Product Management. During that time, SCR revenues have grown by 4000%. Inbar was further involved in several M&As, delivering substantial value to its shareholders.
In October 2020, Mileutis announced it raised $20 million from NovaQuest Capital Management, a first-time investment in the animal health sector by the North Carolina-based private equity firm. Mileutis’ first product Imilac™ is aimed at dairy cows, providing a residue-free non-antibiotic therapy for prevention and treatment of mastitis at dry-off. It is the first in a series of patented products targeting the growing concern of antibiotic resistance and overuse of antibiotics in the global dairy industry.