British Patient Capital Invests £10 Million in Maxion Therapeutics, Part of Series A Financing Round

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British Patient Capital, a commercial subsidiary of the British Business Bank, announced a £10 million (US$13 million) investment in Maxion Therapeutics (Maxion), a UK-based biotechnology company developing antibody-based therapeutics based on its proprietary KnotBody technology, as part of a £58 million (US$75 million) Series A financing round. According to a March 17, 2025 company press release, Maxion focuses on Knotbody-based drugs that target ion channel and G protein coupled receptor (GPCR)-driven diseases (1).

The financing round was led by General Catalyst. Additional investments came from new investors, including British Patient Capital, Solasta Ventures, and Eli Lilly and Company. Existing investors LifeArc Ventures, Monograph Capital, and BGF also supported the financing round. Maxion will use the funds to develop its KnotBody technology, taking programs to clinical proof-of-concept studies and to advance opportunities to address large global markets.

The company’s lead KnotBody program, MAX001, is currently in preclinical development, targeting a broad spectrum of inflammatory diseases such as atopic dermatitis and inflammatory bowel disease. The company’s other early-stage programs include KnotBody molecules targeting the treatment of pain and cardiovascular diseases.

“This landmark fundraising—one of the largest European private biotech financings since the beginning of 2024—highlights the significant potential of our technology and development pipeline,” said Arndt Schottelius, MD, PhD, chief executive officer, Maxion Therapeutics, in the press release. “KnotBodies represent a potential breakthrough biologic drug modality, delivering greater potency, selectivity, and durability. We believe that they 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 caliber of our international investor syndicate validates our approach, and I would like to welcome our new investors to Maxion and thank our existing investors for their continued support.”

Ion channel and GPCR dysfunctions are implicated in a range of debilitating diseases (2). Current treatments based on small-molecule drugs are often challenged by poor efficacy and side effects, which can be attributed to a lack of selectivity and exposure. Compared to small molecules, engineered antibodies offer better selectivity and have been proven to be therapeutically effective. However, despite the advantages, antibody discovery against ion channels and GPCRs has been particularly challenging. There are currently no antibodies in clinical development against ion channels, according to the company press release (1).

“We're excited to support Maxion at a pivotal stage in their development and realize the potential of the KnotBody platform. This advances the field of antibody therapeutics, opening up new target classes to ultimately benefit patients, and builds on the successes of the [United Kingdom’s] contributions to the global biologics market,” said Emma Johnson, senior investment manager—Life Sciences, Direct & Co-Investments, British Patient Capital, in the release.

Following the financing round, Elena Viboch, managing director at General Catalyst, and Johnson will join Maxion’s board.

“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,” said Viboch in the release.

References

1. British Patient Capital. British Patient Capital Announces £10m Investment in Maxion Therapeutics as Part of £58m Series A Financing Round. Press Release. March 17, 2025.
2. Davies, A.; Tomas, A. Appreciating the Potential for GPCR Crosstalk with Ion Channels. Prog. Mol. Biol. Transl. Sci. 2023, 195, 101–120. DOI: 10.1016/bs.pmbts.2022.06.013