Maxion Therapeutics, a Cambridge biotech firm developing treatments for inflammatory diseases, has closed a £58m Series A round.
The company is developing antibody-based drugs called KnotBodies, which are designed to overcome the challenges of targeting ion channels and G protein-coupled receptors (GPCRs).
Maxion’s drugs will target a broad range of inflammatory diseases including atopic dermatitis and inflammatory bowel disease. The firm is also running early-stage programmes to use its tech to treat pain and cardiovascular disease.
“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,” said Arndt Schottelius, CEO of Maxion Therapeutics.
“KnotBodies 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.”
The investment round was led by General Catalyst with additional funding from new backers British Patient Capital, Solasta Ventures and Eli Lilly and Company.
Emma Johnson, senior investment manager of life sciences at British Patient Capital, said the company’s tech “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”.
Existing investors LifeArc Ventures, Monograph Capital and BGF also supported the round.
Maxion raised £13m in its previous round in February 2023.
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