BioTech Maxion Therapeutics has raised a 拢58m Series A investment round to develop its technology and address large global markets.
The Cambridge-based firm is currently developing antibody-based KnotBody drugs for ion channel and G protein coupled receptor (GPCR) driven diseases.
Its lead KnotBody programme, MAX001, is currently in preclinical development to target inflammatory diseases such as bowel disease.聽
Other early-stage programmes include KnotBody molecules for the treatment of pain and cardiovascular disease.
The round was led by General Catalyst with additional investment from new investors, British Patient Capital, Solasta Ventures and Eli Lilly and Company and supported by existing investors LifeArc Ventures, Monograph Capital and BGF.
Following the 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.
鈥淭his landmark fundraising 鈥� one of the largest European private biotech financings since the beginning of 2024 鈥� highlights the significant potential of our technology and development pipeline,鈥� said Arndt Schottelius, MD PhD, CEO at Maxion Therapeutics.
鈥淜notBodies represent a potential breakthrough biologic drug modality, delivering greater potency, selectivity, and durability. We believe that they 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.聽
鈥淭he 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.鈥�
Johnson added: 鈥淲e’re excited to support Maxion at a pivotal stage in their development and realise the potential of the KnotBody platform.聽
鈥淭his advances the field of antibody therapeutics, opening up new target classes to ultimately benefit patients, and builds on the successes of the UK’s contributions to the global biologics market.鈥�