Metrion Biosciences is a specialist ion channel contract research organisation focused on ion channel biology and drug discovery. The company offers specialist electrophysiology capabilities and drug discovery support to biopharma customers. It announced plans to use newly raised equity to expand its laboratories in Cambridge, invest in specialist equipment and enhance global marketing activities. Metrion secured £3.5m in new equity financing to fund these initiatives, with £2.5m from Maven and £1.0m from existing investor Gresham House. The company also disclosed a series of board changes tied to the round, including the appointment of Dr David Milroy as Maven’s investor director and Steve Carle as Gresham House’s board representative, while three non-executive directors retired. Leadership and investors framed the raise as a step to help Metrion capitalise on growing interest in therapeutics targeting ion channels. Metrion Biosciences is a contract research organization focused on ion channel drug discovery and safety testing. Its services include an industry‑leading panel of in vitro cardiac ion channel safety assays, translational native cell and phenotypic assays for neurological and cardiotoxicity testing, and cell line development and optimisation. The company provides tailored assay formats, data analysis and reporting, project management and quality‑assured data packages. Metrion plans to expand its laboratories in Cambridge, UK, invest in specialist equipment, develop its cell line library and add GLP cardiac safety services. The financing announced will also support expansion of the company’s business development activities, including more extensive US business development. The company added Maya Ward of Gresham House Ventures to its board of directors as part of the transaction. Metrion Biosciences is a specialist ion channel contract research and drug discovery company based in Cambridge, England. The company focuses on ion channel screening capabilities and drug discovery efforts targeting ion channel biology. It completed a fully subscribed funding round on 14 March and will use the proceeds to broaden its ion channel screening capabilities and to continue research into novel Kv1.3 inhibitors for the treatment of autoimmune conditions. The new equity investment was led by the o2h Ventures Therapeutics Fund, acting via Reyker Securities plc, and was supported by existing shareholders. o2h Ventures focuses on early-stage UK biotech therapeutics and related AI, with particular attention to companies in the Cambridge biotech cluster. Sunil Shah, Managing Partner of o2h Ventures, will serve as an observer on Metrion’s board. Metrion Biosciences is a specialist ion-channel contract research organisation and drug discovery business that provides fee-for-service and collaboration access to a range of ion channel assays, translational native cell and phenotypic assays, and cardiac safety screening. The company also offers cell line development, data analysis and tailored reporting solutions. Metrion acquired a portfolio of more than 2,000 small-molecule inhibitors of a voltage-gated potassium channel and has filed a new patent application covering a series of active drug leads. It will use a £637k Innovate UK Biomedical Catalyst Primer Award to support further optimisation and characterisation of orally available potassium channel inhibitors for the treatment of psoriasis, with the project commencing in September 2018. Metrion has already confirmed potent in vitro activity for selected compounds and aims to select one or more novel oral drug candidates suitable for development as therapeutics for psoriasis and other autoimmune disorders. If successful, the company plans to seek industry partners to fund further development and commercialisation, and is also conducting related research in other autoimmune conditions.

Total raised

$8M

Funding rounds

4

Latest round

Equity

Latest activity

Dec 2023