Maxion Therapeutics secures £58m Series A funding led by General Catalyst
General Catalyst led the financing alongside a syndicate of new and existing investors to support the developer of antibody-based therapeutics.
Share allotment filed at Companies House
Maxion Therapeutics develops antibody-based biologic drugs using its proprietary KnotBody platform to target ion channels and G-protein-coupled receptors. The company operates from Cambridge and builds therapies for conditions such as chronic pain and autoimmune disorders.
Maxion Therapeutics has secured £58m in an oversubscribed Series A funding round to advance its proprietary KnotBody technology and clinical programmes. General Catalyst led the financing, with participation from new backers British Patient Capital, Solasta Ventures, and Eli Lilly and Company, alongside ongoing support from LifeArc Ventures, Monograph Capital, and BGF. The biotechnology firm also received a £2m grant from Innovate UK.
The capital will support the company as it brings its lead candidate through clinical proof of concept and expands the reach of its discovery platform. Maxion focuses on addressing challenging drug targets that have historically resisted conventional antibody approaches, particularly ion channels and G-protein-coupled receptors linked to severe medical conditions.
From the founder
"KnotBodies represent a potential breakthrough biologic drug modality, delivering greater potency, selectivity, and durability. We believe 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 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."
Arndt Schottelius
Chief Executive Officer at Maxion Therapeutics
Investor perspective
"We’re excited to support Maxion at a pivotal stage in their development and realise the potential of the KnotBody platform. This 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."
Emma Johnson
Senior Investment Manager – Life Sciences, Direct & Co-Investments, British Patient Capital
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Elena Viboch
General Catalyst
Emma Johnson
British Patient Capital
Solasta Ventures
Eli Lilly and Company
LifeArc
Monograph Capital
BGF
Eli Lilly
Categories
About the company
Maxion Therapeutics
Maxion Therapeutics develops antibody-based biologic drugs for ion channel and GPCR-driven diseases.