MORRISVILLE, N.C., May 16, 2024
/PRNewswire/ -- Metabolon, Inc., the global leader in providing
metabolomics solutions advancing a wide variety of life science
research, diagnostic, therapeutic development, and precision
medicine applications, announced that it has closed on a new
$60 million credit facility. This
significant investment, of which an initial $42.5 million was funded at closing, will be
utilized to fuel the company's growth initiatives and expand its
research and development efforts to further enhance its
metabolomics platform. The investment will also support the
company's global expansion plans, including market penetration
initiatives and strategic partnerships.
The financing was led by Trinity Capital, Inc., and enabled
early retirement of the Company's previous $35 million debt facility. It follows a
$25 million equity financing that
closed in January of 2023.
"We are extremely pleased to announce this successful financing,
marking a significant milestone for Metabolon. This infusion of
additional capital and robust process leading up to it underscore
the strong investor confidence in Metabolon's vision, capabilities,
and market potential within the multiomics and metabolomics
industry" said Rohan (Ro) Hastie
Chief Executive Officer at Metabolon. "As the life sciences embrace
a sophisticated multiomics paradigm, Metabolon is emerging as an
industry benchmark and an essential catalyst toward achieving true
precision medicine. This investment will enable us to accelerate
growth, drive innovation, and further solidify our position as a
leader in the metabolomics space."
"Despite relatively challenging capital markets environment,
this investment of non-dilutive growth capital, combined with the
equity round before it, are proof that top-performing companies
like Metabolon continue to attract funding. We are thrilled to have
this top-tier investor backing us, enabling us to advance
scientific research, drive breakthrough discoveries, and further
develop our technology as we bring market-leading metabolomics and
bioinformatics solutions to the multiomics community," said
Gerry Haines, Chief Financial
Officer at Metabolon.
"We are excited to partner with Metabolon, a company that has
demonstrated innovation and excellence in the life sciences
sector," said Rob Lake, Senior
Managing Director, Life Sciences at Trinity. "By leveraging their
cutting-edge technology and extensive experience, the team has the
potential to accelerate research and we look forward to supporting
the company's ongoing growth and expansion in the industry."
To learn more about how Metabolon deciphers thousands of
discrete chemical signals from genetic and non-genetic factors to
discover biomarkers and reveal biological pathways, visit
https://www.metabolon.com/.
About Metabolon
Metabolon, Inc. is the global leader in metabolomics, with a
mission to deliver biochemical data and insights that expand and
accelerate the impact of life sciences research and complement
other 'omics' technologies. With more than 20 years, 10,000+
projects, 3,000+ publications, and ISO 9001:2015, CLIA, and CAP
certifications, Metabolon has developed industry-leading
scientific, technology, and bioinformatics techniques. Metabolon's
Global Discovery Panel is enabled by the world's largest
proprietary metabolomics reference library. Metabolon's
industry-leading data and translational science expertise help
customers and partners address some of the most challenging and
pressing questions in the life sciences, accelerating research and
enhancing development success. The company offers scalable,
customizable multiomics solutions, including metabolomics and
lipidomics supporting customer needs from discovery through
clinical trials and product life-cycle management. For more
information, please visit www.metabolon.com and follow us on
LinkedIn and Twitter.
About Trinity Capital Inc.
Trinity (Nasdaq: TRIN), an
internally managed business development company, is a leading
provider of diversified financial solutions to growth stage
companies with institutional equity investors. Trinity's investment
objective is to generate current income and, to a lesser extent,
capital appreciation through investments, including term loans,
equipment financings and equity-related investments. Trinity
believes it is one of only a select group of specialty lenders that
has the depth of knowledge, experience, and track record in lending
to growth stage companies. For more information, please visit the
Company's website at www.trinitycap.com.
About Metabolomics
Metabolomics, the large-scale study
of all small molecules in a biological system, is the only 'omics
technology that provides a complete current-state functional
readout of a biological system. Metabolomics helps researchers see
beyond the genetic variation of individuals, capturing the combined
impact of genetic as well as external factors such as the effect of
drugs, diet, lifestyle, and the microbiome on human health. By
measuring thousands of discrete chemical signals that form
biological pathways in the body, metabolomics can reveal important
biomarkers enabling a better understanding of a drug's mechanism of
action, pharmacodynamics, and safety profile, as well as individual
responses to therapy.
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SOURCE Metabolon, Inc.