Metabolon names two new investors in its $15M Series E

In its new, $15 million round of late-stage financing, metabolomics-focused Metabolon has added Camden Partners and Sumitomo to its list of investors.

Camden led the round for the maker of metabolomics-based diagnostic tests. Dr. Christopher Kersey, Camden Partners' managing member, joins Metabolon's board of directors with the investment. In a statement, he noted Metabolon's work in cancer and diabetes diagnostics.

Based in Research Triangle Park, NC, Metabolon develops biochemical profiling tests based on metabolomics--the study of small-cell telltales left by metabolic processes.

The company will use the funds to support a recently launched product and two products under development, CEO John Ryals said in a statement. Metabolon recently launched Prostarix with partner Bostwick Laboratories. The urine-based test helps measure the likelihood a patient with slightly elevated PSA scores has prostate cancer. Quantose, a surrogate test for oral glucose tolerance, is in development, along with a test for bladder cancer recurrence.

Heading into its Series E, Metabolon's existing investors included Aurora Funds, Fletcher Spaght, Fulcrum Financial Partners, Harris & Harris Group and Syngenta Ventures. All five returned to participate in the new round, according to Metabolon's press release.

In addition to Bostwick, Metabolon recently announced a second tie-up with Richmond, VA-based Global Genomics Group (G3), focused on biomarkers and drug targets for cardiovascular diseases.

- read the press release

Suggested Articles

Qiagen launched a one-stop shop compiling publicly available genomic data, scientific literature and phenotypic information on potential superbugs.

Adaptive Biotechnologies is planning a $200 million IPO to help power its sequencing tests aimed at the body’s immune system and related therapies.

Abbott’s new diabetes test provides A1c results in three minutes, allowing clinicians to develop care plans within a single office visit.