Metabolon Closes $15 Million Series E Financing

  Metabolon Closes $15 Million Series E Financing

        New investors include Camden Partners and Sumitomo Corporation

Business Wire

RESEARCH TRIANGLE PARK, N.C. -- January 3, 2014

Metabolon, Inc., a world leader in metabolomics-based diagnostic tests and
research services, announced today that it has raised $15 million in a Series
E financing through the issuance of preferred stock.

New investor Camden Partners led the round, with participation from Sumitomo
Corporation along with existing investors Aurora Funds, Harris & Harris Group,
Syngenta Ventures, Fletcher Spaght and Fulcrum Financial Partners. In
connection with this financing, Camden Partners Managing Member Dr.
Christopher W. Kersey will join the Company’s board of directors.

Dr. Kersey said, “Metabolon is a leader in next-generation diagnostics in
important diseases such as diabetes and cancer. CEO John Ryals is one of the
nation's leading entrepreneurs and operators in the life sciences industry
over the last twenty years, and he has assembled an elite team of executives
and scientists that assists physicians and patients alike in earlier and more
accurate detection of diseases.”

Commenting on the fundraising, John Ryals, Ph.D., president and chief
executive officer of Metabolon, said, “We are gratified so many current
investors participated in the Series E round, and welcome Camden Partners and
Sumitomo to the list of high-quality backers of our company. Proceeds will
support, among other things, the recent launch by partner Bostwick
Laboratories of Prostarix™, a urine-based test that provides important
metabolic information on the likelihood that a patient with slightly elevated
PSA scores has prostate cancer, thus reinforcing the need to proceed to
biopsy. The funds will also be used for the continued development of Quantose™
IGT, our surrogate test for oral glucose tolerance, and for our test for the
recurrence of bladder cancer.”

About Metabolon

Metabolon, Inc. is a world leader in the field of metabolomics by pioneering
and patenting the industry’s leading biochemical biomarker discovery and
profiling platform. It has developed the technology to quickly identify and
measure the biochemicals in a biological sample through its proprietary global
processing method. Metabolon has a broad pipeline of laboratory developed
tests in obesity-related conditions and cancer. Quantose™ is the first
laboratory developed test developed by Metabolon using its technology.
Metabolon’s expertise is embraced by a wide range of pharmaceutical,
biotechnology, food and agricultural companies. Metabolytics, its biomarker
discovery and analysis business, has completed more than 3,000 client studies
on behalf of more than 600 customers. For more information visit
www.metabolon.com, email klawrence@metabolon.com or call 919-287-7401.

Cautionary Note about Forward-Looking Statements

The materials provided herein that are not historical facts are or might
constitute projections and other forward-looking statements regarding future
events that involve substantial risks, uncertainties, and assumptions. If any
of these risks or uncertainties materializes or if any of these assumptions
prove incorrect, the results of Metabolon could differ materially from the
results expressed or implied by any forward-looking statements. The risks,
uncertainties, and assumptions referred to above include, but are not limited
to: the uncertainties inherent in biochemical research and development;
decisions by regulatory authorities regarding whether and when to approve
diagnostic tests; our and our distributors’ ability to successfully
commercialize and market both new and existing products; governmental laws and
regulations affecting health care, including regarding access, pricing and
reimbursement of diagnostic tests; the strength of our intellectual property
portfolio; our history of losses; whether we are able to achieve or sustain
profitability; our highly competitive industry; our ability to compete
effectively; security and privacy risks; and our ability to continue to
innovate and provide products and services that are useful to our clients,
among other risks, uncertainties, and assumptions.

Contact:

Media:
Metabolon
Kathryn Lawrence
919-287-7401
klawrence@metabolon.com
 
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