The corporate team at Penningtons Manches Cooper has advised Metrion Biosciences, one of partner Helen Drayton’s long-standing Cambridge based clients, on securing £2.7 million in new equity financing, including £2.25 million from lead investor Gresham House Ventures.
Metrion is a CRO focused on delivering a range of high quality ion channel drug discovery services to pharma and biotech. It is regarded as a leading provider of cardiac safety profiling, cardiac translational assays and neuronal translational assays. The investment will enable Metrion to expand its laboratories space in Cambridge, invest in specialist equipment, further develop its cell line library and also add GLP cardiac safety services.
Partner James Went and senior associate Dominique Sabatini acted for Metrion. The deal is the firm’s latest success in the life sciences sector, in which it has built a strong reputation based on a multi-disciplinary approach and deep understanding of clients’ needs.