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| Metabolon's Durham, NC, headquarters--Courtesy of Metabolon |
Metabolon raked in $5 million in an extended Series E financing round, marking a win for the company as it forges ahead with its metabolomics-based diagnostics for cancer, diabetes and obesity-related diseases.
The Durham, NC-based company's recent financing adds to a Series E round completed last January that brought in $15 million, bringing the total amount raised in the round to $20 million, GenomeWeb reports. Metabolon is not spelling out many details, but four investors participated in the latest financing, according to the company's regulatory filing. Investors such as Camden Partners, Aurora Funds, Syngenta Ventures and Sumitomo contributed to the January 2014 round.
A fresh infusion of cash helps Metabolon as it rides the tailwinds of last year's success. In March 2014, the company announced that it would provide biochemical test for Human Longevity, a new venture from genomics pioneer J. Craig Venter which collects human genetic data to help uncover new treatments. Metabolon last year also filed confidentially filed for an IPO, bringing in funds to support development of its urine-based test for prostate cancer, surrogate test for diabetes and lab test for obesity-related chronic illnesses.
Meanwhile, the company is making headway on other fronts with its metabolomics profiling services, inking a deal with a pharma heavyweight to expand its technology's reach. In May 2014, GlaxoSmithKline ($GSK) signed up to use Metabolon's bioinformatics and visualization tools to aid in drug development.
And Metabolon is far from the only company hoping to cash in on a growing metabolomics field. BASF's Metanomics Health subsidiary in September signed an early-phase deal with German CRO Cenix BioScience to develop new biomarkers for undisclosed diseases. Eventually, the companies' work could shed light on disease progression and help target future therapies.
- here's Metabolon's filing
- read the GenomeWeb story (reg. req.)