Metabolon raises $15M in series E

Metabolon Inc. (Durham, N.C.) raised a $15 million series E round. Metabolon said the round's sole investor, Essex Woodlands, may invest an additional $10 million, which Metabolon would use to buy back shares from existing investors.

Metabolon develops and markets clinical diagnostics, including its Quantose IR test to predict risk of progression to Type II diabetes. Spokesperson Robin Fastenau told BioCentury the company intends to launch a product next month that would test for 65 rare metabolic diseases. By early next year, Metabolon plans to launch its accuGFR test, a diagnostic for chronic kidney disease, Fastenau said. ...