Metabolon, Inc., a Durham, NC-based provider of metabolomics-based diagnostic tests and research services, raised $15m in Series E financing.
The round was led by new investor Camden Partners with participation from Sumitomo Corporation and existing investors Aurora Funds, Harris & Harris Group, Syngenta Ventures, Fletcher Spaght and Fulcrum Financial Partners. In connection with this financing, Camden Partners Managing Member Dr. Christopher W. Kersey will join Metabolon’s board of directors.
The company intends to use the funds to support the recent launch by partner Bostwick Laboratories of Prostarix™ and for the continued development of Quantose™ IGT.
Led by John Ryals, Ph.D., president and chief executive officer, Metabolon has developed technology for a wide range of pharmaceutical, biotechnology, food and agricultural companies to quickly identify and measure the biochemicals in a biological sample. It provides Prostarix™, a urine-based test that provides metabolic information on the likelihood that a patient with slightly elevated PSA scores has prostate cancer, thus reinforcing the need to proceed to biopsy, and is developing Quantose™ IGT, a surrogate test for oral glucose tolerance.
Metabolytics, the company’s biomarker discovery and analysis business, has completed more than 3,000 client studies on behalf of more than 600 customers.