Cambridge-based Maxion Therapeutics has secured $72 million (£58 million) in an oversubscribed Series A financing round, marking one of the largest European private biotech fundraises since early 2024. The investment will fuel the development of the company's innovative KnotBody® technology platform targeting previously untreatable ion channel and G protein-coupled receptor (GPCR) diseases.
The financing round was led by General Catalyst with participation from new investors British Patient Capital, Solasta Ventures, and Eli Lilly and Company. Existing investors LifeArc Ventures, Monograph Capital, and BGF also contributed to the round.
Breakthrough KnotBody Technology
Maxion's proprietary KnotBody technology represents a potential paradigm shift in treating conditions driven by ion channel and GPCR dysfunction. The platform combines knottins—naturally occurring cysteine-rich mini-proteins that modulate ion channels—with antibodies to create therapeutics with enhanced potency, selectivity, and durability.
"KnotBodies represent a potential breakthrough biologic drug modality," said Arndt Schottelius, MD PhD, Maxion's Chief Executive Officer. "We believe that KnotBodies will provide transformational new therapeutic options for ion channel- and GPCR-driven diseases across a wide range of therapeutic areas with a remaining high unmet medical need."
The technology addresses a significant gap in current treatment approaches. While ion channel and GPCR dysfunction underlies numerous debilitating conditions, existing small molecule treatments often lack selectivity, resulting in poor efficacy and unwanted side effects. Antibodies typically offer superior selectivity but have historically been challenging to develop against ion channels, with no antibodies against ion channels currently in clinical development.
Pipeline Development
Maxion is developing a proprietary pipeline of KnotBody molecules with first-in-class and best-in-class potential. The company's lead program, MAX001, is currently in preclinical development targeting inflammatory diseases such as atopic dermatitis and inflammatory bowel disease. Additional early-stage programs focus on pain management and cardiovascular disease.
The Series A proceeds will transform Maxion into a clinical-stage biotech company, supporting the advancement of MAX001 to clinical proof-of-concept and progressing additional pipeline candidates toward the clinic.
Elena Viboch, Managing Director at General Catalyst, expressed confidence in the company's approach: "We believe Maxion is radically shifting the biologics discovery process to address the most challenging drug targets such as ion channels and GPCRs. With a strong team and differentiated platform, Maxion is well-positioned to discover and develop medicines that matter."
Scientific Foundation
Maxion was founded in 2020 by Dr. John McCafferty and Dr. Aneesh Karatt-Vellatt, who serve as CTO and CSO, respectively. Dr. McCafferty brings significant scientific credibility to the company as a co-inventor of antibody phage display, the technology for which his co-inventor Sir Gregory Winter received the 2018 Nobel Prize in Chemistry.
The company's revolutionary approach combines this antibody expertise with knottin technology to overcome the historical challenges of targeting ion channels with biologics. By creating these hybrid molecules, Maxion aims to develop safe, efficacious, and long-acting ion channel modulators.
Strategic Board Additions
Following the financing, Elena Viboch from General Catalyst and Emma Johnson, Senior Investment Manager for Life Sciences at British Patient Capital, will join Maxion's Board of Directors, bringing additional industry expertise to guide the company's growth.
The substantial investment and caliber of the international investor syndicate validate Maxion's scientific approach and commercial potential. The company is now positioned to advance its pipeline toward clinical development, potentially delivering new therapeutic options for patients with limited treatment alternatives.
Maxion's focus on ion channels and GPCRs targets a vast therapeutic landscape, as these cellular components are implicated in numerous conditions ranging from autoimmune disorders to chronic pain and cardiovascular disease. If successful, the KnotBody platform could unlock new treatment paradigms for conditions that have proven difficult to address with conventional approaches.
