The corporate team at Penningtons Manches Cooper has advised leading contract research organisation (CRO) Metrion Biosciences on securing its £3.7 million funding round led by Maven Capital Partners, alongside Gresham House Ventures.
Cambridge-based Metrion specialises in providing high quality preclinical ion channel drug discovery services to worldwide pharmaceutical and biotechnology companies. It is recognised as a leading provider of in vitro preclinical discovery services from high throughput primary screening to long-term medicinal chemistry screening support, cardiac safety profiling (including GLP hERG), cardiac translational assays, neuronal translational assays, and cell biology services.
This funding round has raised capital for the continued growth of Metrion’s UK laboratories, the acquisition of additional automated electrophysiology equipment, investment in new assay services, and the strengthening of international marketing activities.
The team advising Metrion Biosciences was led by corporate partner James Went and senior associate Dominique Sabatini, and included corporate associate Jenny Wright, employment senior associate Charissa Upton, and life sciences partner Rachel Bradley.
Andy Southan, CEO at Metrion Biosciences, said: “This investment enables Metrion’s further development as a leading specialist pharmaceutical CRO and I’d like to thank the Penningtons Manches Cooper team for its continued support – having James and Dominique on our side was invaluable.”
James Went commented: “We’re delighted to have supported Metrion Biosciences again to deliver this successful funding round, as it continues its growth as an important specialist in the UK’s life sciences sector.”