Sevin Rosen Funds joins The Aurora Funds, The Trelys Funds and other investors for an additional $5 million investment in the final close of the company’s $9 million Series A round.
RESEARCH TRIANGLE PARK, NC (October 13, 2004) – Metabolon, Inc., a leader in the application of metabolomics for the pharmaceutical industry, today announced the final close of a $9 million Series A round. Metabolon closed on an initial $4 million in July 2003, led by The Aurora Funds (Durham, NC), with participation from The Trelys Funds (Columbia, SC), Alexandria Real Estate Equities and other investors.
“This financing is a significant achievement for the team at Metabolon, and we are delighted to have Sevin Rosen join our existing investors,” said John Ryals, president and CEO of Metabolon. “With this additional funding, we expect to strategically invest in further technological advancements, as well as enhance our business development efforts. Demand for this technology is high, and we are having a lot of success in developing partnerships with various pharmaceutical companies.”
The final close was led by Sevin Rosen Funds (Palo Alto, CA), with participation by the existing investors. Sevin Rosen Funds is a top-tier venture capital firm with a track record of funding successful companies since 1981. In connection with the financing, John Oxaal, general partner at Sevin Rosen Funds, will join the Board of Directors at Metabolon.
“We are excited about working with Metabolon to further the field of metabolomics,” said Oxaal. “With Metabolon’s deep understanding of metabolic pathways and its ability to detect the early onset of disease, the company is striving to set new standards for drug therapies. I am delighted to join Metabolon’s Board to help make this vision a reality.”
“The initial investment was used to put together the team and validate the metabolomics platform,” said Jeff Clark, managing general partner at The Aurora Funds. “Metabolon has generated significant interest from the pharmaceutical industry and will look to execute its partnering strategy.”
Metabolon is an industry leader in the application of metabolomics, a powerful and new scientific approach for the discovery and development of drugs and the early diagnosis of disease states. Seasoned and successful entrepreneurs, as well as scientific pioneers, make up Metabolon's executive management team and boards.
Metabolon's patent-pending technology is poised to dramatically impact drug discovery and development processes by accurately measuring the spectrum of biochemical changes and mapping these changes to metabolic pathways. Metabolon's technology can identify safer compounds for development, shorten the time for drugs to get to market and identify diagnostic markers for earlier disease detection. For additional information, visit www.metabolon.com.
About The Aurora Funds
Founded in 1994, The Aurora Funds is a venture capital firm that provides capital and strategic help to entrepreneurs with early stage life sciences and information technology companies in the Southeastern and mid-Atlantic United States. The firm has more than $155 million of total capital under management and is currently investing out of its fourth fund of $85 million. The firm has the capacity to invest between $4 million and $7 million throughout the life cycle of an investment. More information is available at www.aurorafunds.com.
About Sevin Rosen Funds
Sevin Rosen Funds is a top-tier venture capital firm with a track record of funding successful companies since 1981. The partnership has consistently made early-stage investments in pioneering technologies and companies with the potential to create new markets. The partners' broad range of venture and operating experiences in successful technology companies translates into a sustained commitment and contribution to the development of the ventures funded. Compaq, Lotus, Cypress, Electronic Arts, SGI, Citrix and CIENA are representative of some of the firm's successful IPOs. The firm has offices in Dallas, Palo Alto, Austin, and San Diego. For more information, please visit www.srfunds.com.
About The Trelys Funds
The Trelys Funds is an early-to-middle stage focused venture capital firm headquartered in Columbia, South Carolina. Formed in 2002, Trelys invests primarily in technology-based companies with rapid growth potential. Initial investment amounts range from $500,000 to $1,500,000. For more information, please visit www.trelys.com
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