mtm adds €7m to series C
This article was originally published in Clinica
Executive Summary
German cervical cancer diagnostics specialist mtm laboratories has raised a further €7m ($10.3m) in series C financing, bringing the total raised in the round to €39m. This latest tranche was led by new investor, Gilde Healthcare Partners (Utrecht, the Netherlands). As part of the financing, Arthur Franken, a partner at Gilde, will join mtm's supervisory board. Heidelberg-based mtm said the new capital will allow the company to advance clinical development and commercialisation of its p16INK4a-based CINtec and Cervatec tests. The products are designed to detect over-expression of p16INK4a, a biomarker for pre-cancerous and cancerous cells of the cervix.