Maxion Therapeutics raises $72 million

Cambridge, UK-based biotech start-up Maxion Therapeutics, which is developing antibody-based KnotBody drugs for ion channel- and G protein coupled receptor (GPCR)-driven diseases, has raised $72 million (£58 million) in a Series A financing.

This adds to its $16 million pre-Series A financing in February 2023. The financing reaffirms the potential of Maxion’s proprietary KnotBody technology and development pipeline and its opportunity to address large global markets, the company noted.

This oversubscribed Series A funding round was led by General Catalyst with additional investment from new investors, British Patient Capital, a commercial subsidiary of the British Business Bank, Solasta Ventures and Eli Lilly (NYSE: LLY) and supported by existing investors LifeArc Ventures, Monograph Capital and BGF.