Metabolon has raised $7.3 million toward a planned $8.3 million equity financing, according to a regulatory filing.
The latest financing represents a fraction of the nearly $98 million raised by Metabolon since 2009. Nearly one-third of that total came in 2016, when the company raised a total $30 million in two $15 million rounds by Essex Woodlands (now EW Healthcare Partners), which has more than $3 billion under management.
Headquartered in Morrisville, NC, Metabolon offers metabolomics solutions for precision medicine as well as for life sciences research. The company has 200 employees, including nearly 40 Ph.D.’s with backgrounds in data science, molecular biology and biochemistry; as well as an experienced staff of statistics, bioinformatics, healthcare, chemistry, and software development experts.
According to Metabolon, its Precision Metabolomics technology offers the largest reference library of authenticated, biologically relevant chemical standards, as well as access to the company’s institutional knowledge and proprietary map of metabolism; a patented bioinformatics and quality-control software; advanced mass spectrometry hardware; a proprietary LIMS system; and quality controls.
In April, the company announced it will perform large-scale metabolomic profiling on biological samples from U.S. veterans as part of the Million Veteran Program (MVP) through the company’s partnership with genomics services provider AKESOgen.
And in June, Rohan F. Hastie, Ph.D., was promoted from chief business officer to succeed John Ryals, Ph.D., as Metabolon’s president and CEO. Dr. Ryals had held those positions since he co-founded the company in April 2002. Since then, he has also served on the company’s board of directors, a position he still holds.