Maxion Therapeutics Raises $72M Series A Funding

Cambridge-based Maxion Therapeutics has successfully raised $72 million in a Series A funding round, aimed at developing its innovative KnotBody® drugs for treating diseases linked to ion channels and G protein-coupled receptors (GPCRs). The funding was led by General Catalyst, with participation from British Patient Capital, Solasta Ventures, Eli Lilly, and existing investors. Maxion's lead program, MAX001, is currently in preclinical development targeting inflammatory diseases like atopic dermatitis and inflammatory bowel disease. The company's approach highlights the potential advantages of KnotBodies over traditional small-molecule drugs, offering improved potency, selectivity, and durability. CEO Arndt Schottelius emphasized the significance of this fundraising, noting it as one of the largest European biotech financings in 2024. The investment will facilitate Maxion's transition into a clinical-stage biotech firm, advancing its pipeline towards clinical proof-of-concept.