Metrion Biosciences closes £3.7m equity financing
Cambridge-based Metrion Biosciences Ltd has secured £3.5m in new equity financing - led by Maven Capital Partners and a £1m contribution from existing investor, Gresham House Ventures.
The company announced that the funding will be used to expand Metrions new (2021) laboratories in Cambridge, UK, invest in specialist equipment and enhance the companys global marketing activities.
Metrion Biosciences is a specialist ion-channel contract research organisation(CRO) and drug discovery business. The company provides customers with access to a range of high quality ion channel assays on a fee-for-service or collaboration basis. Metrion Biosciences ion channel expertise includes an industry leading panel of in vitro cardiac ion channel safety assays, translational native cell and phenotypic assays for neurological and cardiotoxicity testing, and a range of other ion channel screening services such as cell line development and optimisation. Metrion Biosciences is able to provide tailored assay formats, data analysis and reporting solutions, effective project management and quality assured data packages.
Metrion Biosciences also announced a series of board changes. Dr David Milroy has joined the board as Mavens investor director and Steve Carle has replaced Maya Ward as Greshams board representative. At the same time, Dr Marc Rogers, Dr Barry Kenny and Mark Keogh have retired as non-executive directors of the Company.
