Metabolon announces $72 million financing to boost drug development

Metabolon, has announced the close on $72 million in combined debt and equity financing. This round of financing included Perceptive Advisors as a new participant. EW Healthcare Partners and other existing investors also participated in the financing.

“We are thrilled by this strong show of support from Perceptive Advisors and our current investors,” said Rohan Hastie, President and CEO, Metabolon. “I am also extremely excited that some of the company’s earliest investors participated in this round of investment as well. The incremental funding will help accelerate our growth and expand our client base, in addition to helping further our R&D programs in machine learning to enable novel biomarker discovery and expand our precision medicine platform.”

Metabolomics, the large-scale study of all small molecules in a biological system, is an ‘omics technology that provides a current-state functional readout of a biological system. By leveraging the world’s largest proprietary metabolite database, Metabolon can decipher thousands of discrete chemical signals from genetic and non-genetic factors to reveal biological pathways. Metabolon’s technology makes connections where other ‘omics cannot and provides the definitive representation of the phenotype.

The company has also appointed Robert Cascella, Chief Business Leader, Precision Diagnostics, and Executive Vice President of Phillips, as one of three independent members of the Metabolon Board of Directors.

“Rob’s 30-year career in the healthcare industry comprises an impressive track record of value creation and delivering integrated solutions,” said Hastie, “We are honoured to have his expertise on the board to help lead Metabolon to our next stage of growth.”



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