Cambridge-based biotech startup Maxion Therapeutics, which is developing KnotBody® drugs using antibodies for diseases involving ion channels and G protein-coupled receptors (GPCRs), has raised $72 million in a Series A funding round led by General Catalyst, with support from British Patient Capital and Solasta Ventures.
- Maxion Therapeutics was founded in 2020 by Dr. John McCafferty and Dr. Aneesh Karatt-Vellatt. The company develops antibody-based drugs for previously untreatable diseases driven by ion channels and G protein-coupled receptors (GPCRs), including autoimmune conditions, chronic pain, and cardiovascular disease.
- Maxion uses its KnotBody® technology, which combines small proteins called "knottins" with antibodies to create targeted and long-lasting treatments.
- The company’s lead drug, MAX001, is being developed for inflammatory diseases like eczema and Crohn’s disease. Maxion is also working on treatments for pain and heart disease.
Details of the deal
- The Series A investment, led by General Catalyst, a San Francisco-based venture capital firm, also included support from British Patient Capital, Boston-based VC Solasta Ventures, and pharmaceutical manufacturing firm Eli Lilly and Company.
“We believe Maxion is radically shifting the biologics discovery process to address the most challenging drug targets such as ion channels and GPCRs. With a strong team and differentiated platform, Maxion is well-positioned to discover and develop medicines that matter," explains Elena Viboch, Managing Director at General Catalyst.
- Additionally, existing investors LifeArc Ventures, Monograph Capital, a London-based venture capital firm that supports life sciences companies, and BGF contributed to the round.
- The fresh capital will be used to advance MAX001 into clinical trials and push other programs toward clinical testing, helping Maxion move closer to becoming a clinical-stage biotech company.
"This landmark fundraising – one of the largest European private biotech financings since the beginning of 2024. The calibre of our international investor syndicate validates our approach, and I would like to welcome our new investors to Maxion and thank our existing investors for their continued support," CEO of Maxion Therapeutics, Arndt Schottelius, commented.
