Metabolon has raised $15 million in financing thanks to investor Essex Woodlands. The funding will be used to develop and commercialize the company’s precision medicine products which use Metabolon’s proprietary metabolomics tech.
Scott Barry, managing director at Essex Woodlands, will join the board of directors as part of the deal.
“Metabolomics has emerged as a powerful technology for precision medicine by dissecting underlying disease processes, which has set the stage for new ways to diagnose, monitor and provide treatment guidance,” said John Ryals, president and CEO at Metabolon, in the announcement.
Metabolomics brings together the influences of genes, diet, lifestyle, environment and xenobiotics in an effort to explain gene function in terms of the origins of disease. It also helps to identify biomarkers which could help with health assessment and to customize drug therapy.
“This financing gives us a number of opportunities to grow and promote the clinical products we are developing for those uses and strengthens our revenue growth,” Ryals continued. Ryals also noted that Essex Woodlands brings along its own “healthcare expertise” that will help to advance Metabolon.
Barry noted that Metabolon’s tech has quite a bit of unrealized potential still. “We believe the potential applications for metabolomics are just beginning to be appreciated, and we are therefore excited to support the continued growth of the leading metabolomics technology platform developed by Metabolon,” Barry said in the announcement.
Altogether, Metabolon has raised around $80 million in funding since its founding in 2000.
- here's the press release