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