Trinity Capital led the closing on a new $60 million credit facility with Metabolon, provider of metabolomics solutions advancing a wide variety of life science research, diagnostic, therapeutic development, and precision medicine applications.
Trinity’s financing 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.
This initial $42.5 million that 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.
“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” Rohan (Ro) Hastie, CEO at Metabolon, said. “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,” Gerry Haines, CFO at Metabolon, said.
“We are excited to partner with Metabolon, a company that has demonstrated innovation and excellence in the life sciences sector,” Rob Lake, senior managing director, Life Sciences at Trinity, said. “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.”
