Round closed
mtm laboratories AG raised €22 million in a third round funding from a consortium of existing and new investors, enabling it to fund the clinical development and commercialisation of products using proprietary biomarkers for diagnosing cervical cancer.
The round was led by HBM BioVentures and HBM BioCapital, with a consortium that includes Heidelberg Innovation and Wellington Partners, together with the new investors Nexus Medical Partners, Boston and SwissFirst Bank, Zurich.
“We are pleased to have closed this round with both existing and new investors, demonstrating a strong commitment to our future success,” said Peter Pack, Chief Executive Officer of mtm laboratories of Heidelberg, Germany. “The clinical development and commercialisation of our in vitro diagnostic products is now securely funded going forward.”
The money will be used to develop mtm’s p16INK4a based CINtec and Cervatec products. p16INK4a is a proprietary biomarker that is strongly over-expressed in pre-cancerous and cancerous cells of the cervix. CINtec diagnostics will be used to detect over expression of p16INK4a in biopsies and cervical cytology specimens. In parallel, the company is developing Cervatec an ELISA test that does not rely on the integrity of cells.
Contact: Peter Pack, mtm Laboratories AG, [email protected]
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