Metrion Biosciences raises £3.5m growth capital

20 Dec, 2023
Tony Quested
Metrion Biosciences in Cambridge, a specialist ion channel CRO and drug discovery company, has secured £3.5 million expansion capital in the form of new equity financing.
Metrion chairman Dr Keith McCullagh

This includes £2.5m from lead investor Maven Capital Partners and £1m from existing backer Gresham House Ventures. 

The funding will be used to further expand Metrion’s laboratories at Granta Park, invest in specialist equipment and enhance the company’s global marketing activities.

Metrion also announced a series of board changes. Dr David Milroy has joined as Maven’s investor director and Steve Carle has replaced Maya Ward as Gresham’s board representative. Dr Marc Rogers, Dr Barry Kenny and Mark Keogh have retired as non-executive directors.

Chairman Dr Keith McCullagh said: “I am pleased to welcome Maven as a new investor. Our CEO Andy Southan and I are delighted that David Milroy, an experienced scientist and business investor, will join the board as Maven’s investor director.

“We also welcome Steve Carle to the board and thank Maya Ward for her support of the round on behalf of Gresham.  Finally, we would like to thank Barry Kenny, Mark Keogh and Marc Rogers as they step down from the board, for their experienced advice and unwavering commitment to the company over many years.”