NEW YORK (GenomeWeb) – Metabolon said today that it has raised an additional $15 million in funding from healthcare equity firm Essex Woodlands.
Essex Woodlands invested an initial $15 million in Metabolon in August. At the time, the company said it planned to use the money to develop and commercialize its pipeline of metabolomics technology-based precision medicine products. Metabolon also noted that Essex had the option to increase its investment by an additional $10 million, which would be used to repurchase shares from existing investors.
Indeed, Metabolon said that the funds from Essex’s follow-on investment have already been used to repurchase and retire certain shares held by existing investors.
Including this latest investment, Metabolon has raised approximately $95 million in funding since it was founded in 2000.