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Metabolon Closes $72M in Debt and Equity Funding

NEW YORK – Metabolon announced on Wednesday that it had closed on $72 million in combined debt and equity financing.

In a statement, company President and CEO Rohan Hastie said that it planned to use the funding to grow its client base and further its R&D programs using machine learning for biomarker discovery and precision medicine.

The round included new investor Perceptive Advisors as well as existing investors including EW Healthcare Partners.

Morrisville, North Carolina-based Metabolon also announced that it had appointed Robert Cascella, chief business leader, precision diagnostics and executive vice president at Phillips, to its board of directors.

Last month, Metabolon said it had entered into a multiyear drug development alliance with Germany's Merck KGaA.