Logo

mtm laboratories Raises Additional $15.3M in Series C Financing

Apr 17, 2008
NEW YORK (GenomeWeb News) – Heidelberg, Germany-based mtm laboratories said today that it has raised an additional €9.6 million ($15.3 million) in its Series C round of private financing.
 
The investment marks the third tranche in the Series C round, which has brought in a total of €31.6 million.
 
mtm said it will use the funds to expand clinical and commercial development for its p16INK4a biomarker-based tests CINtec and Cervatec. CINtec is being developed to detect overexpression of the biomarker in biopsies and cervical cytology specimens. Its recently launched Cervatec assay uses ELISA technology for detection of pINK4a over-expression.
 
HBM BioVentures and HBM BioCapital led the Series C round, with additional investments from Wellington Partners, Mannheim Holdings, Heidelberg Innovation, Nexus Medical Partners, and new investor National Technology Enterprises Company of Kuwait, which contributed €2.25 million to the most recent tranche.

Breaking News
The Scan

Wolf Howl Responses Offer Look at Vocal Behavior-Related Selection in Dogs

In dozens of domestic dogs listening to wolf vocalizations, researchers in Communication Biology see responses varying with age, sex, reproductive status, and a breed's evolutionary distance from wolves.

Facial Imaging-Based Genetic Diagnoses Appears to Get Boost With Three-Dimensional Approach

With data for more than 1,900 individuals affected by a range of genetic conditions, researchers compared facial phenotype-based diagnoses informed by 2D or 3D images in the European Journal of Human Genetics.

Survey Suggests Multigene Cancer Panel VUS Reporting May Vary Across Genetic Counselors

Investigators surveyed dozens of genetic counselors working in clinical or laboratory settings, uncovering attitudes around VUS reporting after multigene cancer panel testing in the Journal of Genetic Counseling.

Study Points to Tuberculosis Protection by Gaucher Disease Mutation

A mutation linked to Gaucher disease in the Ashkenazi Jewish population appears to boost Mycobacterium tuberculosis resistance in a zebrafish model of the lysosomal storage condition, a new PNAS study finds.