Maxion Therapeutics raises $72M to accelerate the development of its antibody-based KnotBody drugs

Maxion Therapeutics has secured $72 million in an oversubscribed Series A financing to accelerate the development of its antibody-based KnotBody drugs. The funding round was led by General Catalyst, with participation from British Patient Capital, Solasta Ventures, Eli Lilly and Company, and existing investors LifeArc Ventures, Monograph Capital, and BGF. This investment underscores the potential of Maxion's innovative approach to treating ion channel- and GPCR-driven diseases.

CEO Arndt Schottelius highlighted the significance of this financing, calling it "one of the largest European private biotech financings since the beginning of 2024." He emphasized the promise of KnotBodies as a new biologic drug modality that offers greater potency, selectivity, and durability. Schottelius expressed confidence that KnotBodies will provide transformative treatment options for diseases with significant unmet medical needs. He also welcomed new investors and acknowledged the continued support from existing stakeholders.

Maxion’s lead program, MAX001, is currently in preclinical development for inflammatory diseases like atopic dermatitis and inflammatory bowel disease. Additional early-stage programs aim to address pain and cardiovascular diseases. The company's proprietary KnotBody technology merges the benefits of knottins—cysteine-rich mini-proteins known for their natural ability to modulate ion channels—with the therapeutic advantages of antibodies.

Traditional small-molecule drugs for ion channels and GPCR-driven diseases often suffer from poor selectivity and unintended side effects. In contrast, engineered antibodies provide superior specificity and have been successfully used in various therapies. However, developing antibodies against ion channels has historically been challenging, with no such antibodies currently in clinical development. Maxion’s technology aims to overcome these challenges, offering a promising new approach.

Maxion Therapeutics was co-founded by Dr. John McCafferty and Dr. Aneesh Karatt-Vellatt, who developed the KnotBody platform. This breakthrough technology is designed to create safer, more effective, and longer-lasting ion channel modulators. Their work has drawn significant attention from investors and industry leaders, reflecting confidence in Maxion’s potential to reshape the biotech landscape.

As part of the financing deal, Elena Viboch, Managing Director at General Catalyst, and Emma Johnson, Senior Investment Manager at British Patient Capital, will join Maxion’s board. Viboch expressed excitement about Maxion’s ability to redefine biologics discovery, addressing some of the most difficult drug targets. She believes Maxion’s differentiated platform and strong leadership team position it to develop impactful new therapies.

The investment will enable Maxion to advance its drug pipeline and refine its KnotBody technology for clinical applications. With its headquarters in Cambridge, Maxion continues to push the boundaries of biotech innovation, striving to bring novel treatments to patients suffering from conditions with limited existing options.

By securing this substantial Series A funding, Maxion Therapeutics is well-positioned to move forward in its mission to develop first-in-class and best-in-class therapies. The company’s pioneering work in the antibody space has the potential to revolutionize treatments for ion channel- and GPCR-driven diseases, marking a significant step forward in biotechnology and pharmaceutical development.

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