MORRISVILLE – Metabolon, a precision medicine company based in RTP, has raised roughly $21.8 million in equity.
The funds came from 11 investors, according to a recent SEC filing.
“This 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,” a company spokesperson says.
The funds also will be put towards the payment of salaries and other compensation and benefits, the filing noted.
The round is capped at $48 million, with $26.2 million remaining to be raised.
Other than payment of salaries and other compensation and benefits, no officer, director, manager or promoter will receive any payments from the proceeds of this offering, the filing noted.
Metabolon lands 5-year Army contract for soldier health project
Founded in 2000, the startup specializes in a technology called metabolomics, which is the large-scale study of small molecules, commonly known as metabolites, within cells, biofluids, tissues or organisms.
Metabolon’s proprietary Precision Metabolomics technology provides researchers with the ability to profile a subject’s or patient’s metabolome for applications in precision medicine and to advance understanding of the metabolic basis of disease, disease progression and treatment mechanisms.
The startup is currently teaming up with three Canadian research groups to discover humans’ frailty biomarkers, determine the severity of frailty and what can be done to help avoid the condition.
Together, they’re developing a $4 million longitudinal research program to perform large-scale metabolomic profiling and biomarker identification on samples from Canada’s largest and most comprehensive study on aging.
