- Metrion will welcome o2h Ventures Therapeutics Fund as a new shareholder.
- Funding will support the expansion of ion channel screening capabilities and continual research into possible drugs for auto-immune illnesses.
The specialist ion channel contract research and drug discovery company Metrion Biosciences Ltd has made it to the headlines for completing an entirely subscribed funding round on 14 March.
As per trusted sources, the company will be using the funds to support the expansion of its ion channel screening capabilities, and continuous research into novel Kv1.3 inhibitors to counter auto-immune conditions.
According to sources familiar with the development, the recently launched o2h Ventures Therapeutics Fund led the new equity investment round, acting through Reyker Securities plc, and backed by existing shareholders. The o2h Ventures fund finances biotech therapeutics in the early stage and associated AI opportunities in the UK and particularly concentrates on evolving companies in the growing Cambridge biotech cluster.
Keith McCullagh, Chairman of Metrion said in a statement that the company is delighted to welcome o2h Ventures Therapeutics Fund as a new stakeholder and Sunil Shah, Managing Partner of the leading investment firm o2h Ventures Ltd as an observer on the Metrion board.
The press release by Metrion quoted Sunil Shah, Managing Partner at o2h Ventures saying that the firm identifies the ion channel biology space as a possibly valuable source of new drug targets, which is creating great interest among pharma companies. The Metrion team possesses deep expertise, and the Company is developing into a global leader in the field of ion channel drug discovery.
For the record, o2h Ventures Limited had launched the o2h Therapeutics and AI fund, which is the UK’s first S/EIS fund solely targeting early-stage biotech therapeutics and related AI opportunities. The team operates from an exclusive o2h SciTech Park where they focus on developing exceptional models for incubating small life science businesses.