Cambridge biotech Maxion Therapeutics has raised $72 million (£58m) in a Series A financing to further grow the business worldwide. The company is developing antibody-based KnotBody® drugs for ion channel and G protein coupled receptor (GPCR)-driven diseases.
This oversubscribed Series A funding round was led by General Catalyst with additional investment from new investors, British Business Bank: British Patient Capital, Solasta Ventures and Eli Lilly and Company and supported by existing investors LifeArc Ventures, Monograph Capital and BGF.
Maxion is developing a proprietary pipeline of KnotBody molecules with “first-in-class" and “best-in-class" potential. Maxion’s lead KnotBody programme, MAX001, is currently in preclinical development to target a broad spectrum of inflammatory diseases such as atopic dermatitis and inflammatory bowel disease. Co-founders Dr. John McCafferty and Dr. Aneesh Karatt Vellatt developed Maxion’s revolutionary KnotBody technology
Arndt Schottelius, MD PhD, Maxion’s CEO, said: “This landmark fundraising – one of the largest European private biotech financings since the beginning of 2024 – highlights the significant potential of our technology and development pipeline.
“KnotBodies represent a potential breakthrough biologic drug modality, delivering greater potency, selectivity, and durability. We believe that KnotBodies will provide transformational new therapeutic options for ion channel- and GPCR-driven diseases, across a wide range of therapeutic areas with a remaining high unmet medical need.”
“The calibre of our international investor syndicate validates our approach, and I would like to welcome our new investors to Maxion and thank our existing investors for their continued support.”
Following this fundraising, Elena Viboch, Managing Director at General Catalyst and Emma Johnson, Senior Investment Manager, Life Sciences at British Patient Capital will join the Maxion Board.
Elena Viboch said: “We believe Maxion is radically shifting the biologics discovery process to address the most challenging drug targets such as ion channels and GPCRs. With a strong team and differentiated platform, Maxion is well-positioned to discover and develop medicines that matter.”
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