, a venture-backed startup focused on development of biomarker technology, has closed on $5.3 million in new financing.

However, Metabolon hopes to raise another $6 million over the next two to three months as part of a “C” round of funding. It raised $15 million in two earlier rounds of funding after launching in 2000.

The company will use the new funds to launch diagnostics businesses in prostate cancer and insulin resistance, according to Metabolon Chief Executive Officer John Ryals.

“Our technology has been proven for biomarker discovery through hundreds of studies with many industry-leading partners,” Ryals said in a statement. “As a result, our service business has been very successful and continues to grow.”

Metabolon focuses on metabolomics, which is an approach to identifying biomarkers. The firm believes its technology will "dramatically impact drug discovery and development processes."

Metabolomics is the study of small molecules, such as glucose and cholesterol , that cellular metabolism produces. The metabolome is the catalog of those molecules in a specific organism.

The technology can be used to identify safer compounds for drug development and thus shorten time to market. Metabolon also says biomarkers can indicate an early presence of a disease.

Metabolon holds three U.S. patents and has filed for many more in the U.S. and around the world.

Previous investors in Metabolon include Aurora Funds and Trelys Funds.