Cambridge, UK-based biotechnology company advancing biologic medicines, Maxion Therapeutics, raised USD 16 million in Series A funding. The Series A round took place on February 15, 2023. LifeArc Ventures, the investment arm of LifeArc, led the financing for the firm. Meanwhile, Monograph Capital and BGF joined in the round as equal participants.
As part of the deal, Sohaib Mir, Senior Investment Principal at LifeArc Ventures; Tim Funnell, Partner at Monograph Capital; and Lucy Edwardes Jones, Investor at BGF, will serve on Maxion’s Board of Directors.
Purpose of financing for Maxion Therapeutics
Maxion Therapeutics seeks to support the development of novel biologics targeting ion channels and G-protein-coupled receptors (GPCRs). The company seeks to provide support via its proprietary, patent-protected KnotBody® platform.
What the company’s officials have to say
John McCafferty, CEO and co-founder of Maxion Therapeutics, said, “Until now, ion channels have been a blind spot for antibody therapeutics. Our KnotBody technology gives Maxion the opportunity to address this neglected target class and enable improved treatment of diseases driven by ion channels and GPCRs. We look forward to working with our investors to expand our promising pipeline.”
What the investors have to add
Sohaib Mir of LifeArc Ventures further said, “Maxion’s founders are seeking to build a category-defining business, and LifeArc Ventures is delighted to collaborate with them as they start to build a promising pre-clinical pipeline. Led by a highly experienced and scientifically world-renowned team, Maxion has the potential to create novel therapies for the significant proportion of patients who fail to respond to current treatments in a wide range of diseases.”
In addition, Lucy Edwardes Jones, an investor at BGF, said, “Maxion’s KnotBody technology has significant potential to unlock the discovery of new drugs for challenging disease targets. We look forward to working closely with Maxion’s highly experienced management team and our co-investors to build significant value in the company as a result of this partnership.”
Besides, Tim Funnell, Partner at Monograph Capital, said, “This funding will allow the Maxion team to demonstrate the broad potential of the KnotBody platform and advance a pipeline of programs for clinical application. This is a novel antibody format, and we are excited to support their development.”
About the company
Dr John McCafferty and Dr Aneesh Karatt Vellatt launched the company in 2020. Maxiom Therapeutics develops biologic medicines for ion channels and GPCRs, critical cell surface proteins involved in a wide range of previously untreatable or poorly-treated diseases, including autoimmune conditions and chronic pain.
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