Metabolon, a US-based metabolomics technology developer backed by agribusiness Syngenta and conglomerate Sumitomo, has closed $15m in financing from healthcare-focused growth equity firm Essex Woodlands.
Founded in 2000, Metabolon is developing health assessment platforms and systems that use metabolomics for precision medicine and biomarker research and new kinds of diagnostic tests.
The funding will go to advancing the precision medicine products the company is developing. Essex Woodlands has the option to invest a further $10m in Metabolon which would be used to buy back shares from existing investors.
Metabolon has now raised about $80m altogether. Sumitomo and Syngenta’s corporate venturing unit, Syngenta Ventures, took part in a $15m series E round in early 2014 that also featured Camden Partners, Aurora Funds, Harris & Harris Group, Fletcher Spaght and Fulcrum Financial Partners.
Syngenta Ventures had previously invested in a $12.3m series C round backed by Fletcher Spaght, Sevin Rosen Funds, Aurora Funds, Harris and Harris, Fulcrum Financial and Alexandria Equities that closed in 2009, and a $13.1m round two years later that also included Keating Capital.