Maxion Therapeutics, a Cambridge-based biotech firm, has secured £58M in an oversubscribed Series A round led by General Catalyst, with participation from new investors British Patient Capital, Solasta Ventures, and Eli Lilly and Company, alongside existing backers LifeArc Ventures, Monograph Capital, and BGF.
The funding, supplemented by a £2M Innovate UK grant, will advance Maxion’s proprietary KnotBody® technology, which combines antibodies with cysteine-rich mini-proteins (knottins) to create potent and selective treatments for ion channel- and GPCR-driven diseases.
The company aims to develop breakthrough therapies for inflammatory diseases such as atopic dermatitis and inflammatory bowel disease, with additional early-stage programs targeting pain management and cardiovascular disease.
Founded in 2020 by Dr. John McCafferty and Dr. Aneesh Karatt-Vellatt, Maxion aims to address the long-standing challenge of developing antibody-based drugs for ion channels and GPCRs, key protein targets in autoimmune and chronic conditions that have been historically resistant to antibody therapies.
Its KnotBody platform offers enhanced potency, selectivity, and durability compared to traditional approaches, positioning Maxion as a leader in this emerging field. The company’s lead program, MAX001, is advancing through preclinical development, while its broader pipeline has the potential to disrupt global markets.
Investors have praised Maxion’s innovative platform, with General Catalyst’s Elena Viboch stating that the firm is “radically shifting the biologics discovery process” to tackle some of the most challenging drug targets.
Let’s break it down, chat about why it matters, and peek into the science and stakes behind this story.
First off, £58 million is a hefty sum, about $75 million USD at current rates, and it’s coming from some heavy hitters. General Catalyst, a U.S.-based venture capital firm, led the charge, joined by newcomers like British Patient Capital, Solasta Ventures, and even pharma giant Eli Lilly and Company.
Old friends like LifeArc Ventures, Monograph Capital, and BGF chipped in too, building on the £13 million Maxion raised back in February 2023. Oh, and there’s a bonus: a £2 million grant from Innovate UK to juice up their work on autoimmune diseases.
That’s a lot of faith, and cash, poured into a company that’s barely five years old.
Why the big bucks? Maxion’s cooking up something called KnotBodies, fancy antibody-based drugs designed to hit targets that have stumped scientists for years: ion channels and G protein-coupled receptors (GPCRs).
These are proteins in our cells that play starring roles in diseases like inflammation, chronic pain, and heart issues, but they’re notoriously hard to drug.
Maxion’s CEO, Arndt Schottelius, didn’t hold back his excitement: “This landmark fundraising highlights the significant potential of our technology and development pipeline. KnotBodies represent a potential breakthrough… delivering greater potency, selectivity, and durability.”
In plain English? They’re betting these drugs could be game-changers, stronger, more precise, and longer-lasting than what’s out there now.
KnotBodies: The cool science behind It
So, what’s a KnotBody? Picture this: it’s a mash-up of two things our bodies already know how to use, antibodies (those immune system heroes that lock onto bad guys) and knottins (tiny, tough proteins with a knotted shape, found in nature, like in spider venom or plants).
Maxion’s trick is sticking knottins into antibodies to create a super-drug that can tackle ion channels and GPCRs. These proteins are like gatekeepers in our cells, controlling signals that can go haywire in diseases.
Trouble is, regular antibodies can’t grab them well, and small molecule drugs (think pills) often miss the mark, causing side effects.
Maxion’s lead project, MAX001, is already in preclinical testing, think lab dishes and mice, for stuff like atopic dermatitis (a nasty skin condition) and inflammatory bowel disease (which messes with your gut).
Inflammatory diseases aren’t rare annoyances, they’re huge. The global market for anti-inflammatory drugs was worth $93.88 billion in 2019 and could hit $299.95 billion by 2032, according to Fortune Business Insights.
In the U.S. alone, treating inflammatory bowel disease (think Crohn’s or colitis) was a $11.4 billion market in 2023, growing steadily, says Grandview Research.
Atopic dermatitis? That’s millions of people itching and scratching worldwide, with no perfect fix. Then there’s chronic pain and heart disease, big, costly problems where current drugs often fall short.
Ion channels and GPCRs are behind a lot of these woes, but we’ve got no approved antibody drugs for ion channels yet. Small molecules, like painkillers or heart meds, can work but often hit too many targets, causing side effects.
Antibodies, on the other hand, are like snipers, super precise, but they’ve struggled with these slippery proteins.
With this £58 million, Maxion’s got plans: push MAX001 toward clinical trials (testing in humans), build out their pipeline, and prove KnotBodies can live up to the hype. But it’s not all smooth sailing. Drug development’s a slog, expensive, risky, and full of hurdles.
A 2021 study in Antibodies noted that while antibody therapies for ion channels and GPCRs are promising, they’re still early days, with technical challenges like making sure the drugs stick to their targets and don’t flop in trials.
Plus, regulators like the FDA or UK’s MHRA will want rock-solid proof these drugs are safe and work.
Competitors are in the game too, companies like Nxera Pharma and Daiichi Sankyo are chasing similar targets, though Maxion’s knottin-antibody combo might give it an edge.
Still, it’s a race, and only the winners get to market. If Maxion pulls it off, though, the payoff could be massive—new treatments for millions, and a shiny spot in the UK’s biotech crown.
So, keep an eye on Maxion. They’ve got the money, the brains, and a shot at something big.
Will they make it? That’s the million-dollar question, or rather, the £58 million one.
For now, they’re a Cambridge crew with a bold idea, and the world’s watching to see if they can turn science into relief for millions.
