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Durham diagnostics company raises $15M

Awardee Story Durham diagnostics company raises $15M
Date: Dec 30, 2013
Author: Jason deBruyn
Source: bizjournal

by: Jason deBruyn

Durham-based diagnostics company Metabolon announced on Monday it has raised $15 million from investors.

The filing did not include information about how the company would use the funds, and company officials including CEO John Ryals and CFO Todd Lynch did not immediately return calls for comment.

Metabalon most recently announced a collaboration with Richmond, Va.-based Global Genomics Group (G3) to investigate biological networks and pathways in order to discover novel biomarkers and pharmaceutical targets for cardiovascular diseases.

In October, it announced a multi-year marketing agreement with Bostwick Laboratories in Uniondale, N.Y., a full-service laboratory specializing in uropathology, particularly the diagnosis of urological cancers including prostate cancer.

In August, it announced an agreement to align metabolomics research services with the David H. Murdock Research Institute (DHMRI) at the North Carolina Research Campus and Metabolon, Inc. And last year, it acquired Lipomics Technologies and was seeing dividends in the new technology.

The company has offices in Keystone Park off Davis Drive and has 22 patents, mostly in the United States.

Contact information

Innovation Development Institute, LLC

   45 Beach Bluff Avenue, Suite 300
     Swampscott,  MA 01907-1542

  Tel:  (781) 595-2920