Metrion Biosciences Closes Funding Round
- Includes investment from o2h Ventures Therapeutics Fund
- Funding to support expansion of ion channel screening capabilities and continued research into potential drugs for auto-immune diseases
Cambridge, UK, 01 April 2019: Metrion Biosciences Ltd (“Metrion”), the specialist ion channel contract research and drug discovery company, announced today that it has completed a fully subscribed funding round on 14 March. Metrion will use the funds to support the broadening of its ion channel screening capabilities, and continued research into novel Kv1.3 inhibitors for the treatment of auto-immune conditions.
The new equity investment round was led by the recently launched o2h Ventures Therapeutics Fund, acting via Reyker Securities plc, and supported by existing shareholders. The o2h Ventures fund invests in early stage biotech therapeutic and related AI opportunities in the UK and focuses, in particular, on emerging companies in the growing Cambridge biotech cluster.
Keith McCullagh, Metrion’s chairman, said: “We are pleased to welcome both o2h Ventures Therapeutics Fund as a new shareholder and Sunil Shah, Managing Partner of o2h Ventures Ltd as an observer on the Metrion board.”
Sunil Shah, Managing Partner, o2h Ventures, commented: “We recognise the ion channel biology space as a potentially very valuable source of new drug targets, which is generating a great interest with pharma companies. The Metrion team has deep expertise, and the Company is emerging as a global leader in ion channel drug discovery.”
The full press release can be found here.