NEW YORK (GenomeWeb News) – Metabolomics firm Metabolon today announced it has completed a Series D financing round that raised $13.1 million.
New investor Keating Capital participated in the round, which also included existing investors Sevin Rosen Funds, Aurora Funds, Harris & Harris Group; Syngenta Ventures, Fletcher Spaght, and Fulcrum Financial Partners.
The Research Triangle Park, NC-based firm raised $12.3 million in a Series C round two years ago.
John Ryals, president and CEO of Metabolon, said in a statement that the funds will be used to support growth of its Metabolytics division, which provides biochemical profiling services, as well as ongoing development of Metabolon's diagnostics products portfolio.
The company, which had been primarily a service business, moved into the diagnostics space earlier this year. Its first diagnostic test, called Quantose, targets insulin-resistance and is in final CLIA validation, Todd Lynch, Metabolon's CFO said in an e-mail to GenomeWeb Daily News. He added that the test is anticipated to launch by the end of the year.