HTGF et al. make follow on investment in m2p-labs
High-Tech-Gründerfonds, KfW, the Seed Fund for the Region of Aachen and the ERP Start-UP Fund have backed biotechnology company m2p-labs with a third round of funding.
The investment value has not been disclosed but will be mainly used to further develop the sales and distribution activities of m2p-labs as the company has now reached the break-even point.
Company
m2p-labs was founded in 2005 by Frank Kensy and Carsten Müller as a spin-off of Rheinisch- Westfälischen Technischen Hochschule Aachen, the technical university in Aachen. The company developed BioLector, a sensor technology for the screening of microorganisms and cell cultures, which are used in biotechnology, pharma and chemical industries for the development of new drugs. The company will relocate from Aachen to nearby Baesweiler and is expected to increase its staff numbers to 11 by the end of 2011.
People
Marco Winzer, investment director, represented High-Tech Gründerfonds on the investment.
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