Battery Ventures carves out UK-based TTP Labtech
US VC Battery Ventures has acquired TTP Labtech, the biotech arm of TTP Group.
Following the investment, TTP Labtech will look to make strategic acquisitions and develop new products. It will continue to manufacture its products in the UK and look to expand its operations in Cambridge.
The VC closed Battery Ventures XII on $800m in February.
Company
Founded in 1997 and based in Cambridge, UK, TTP Labtech produces products that improve workflows within drug discovery, structural biology, molecular biology and genomics.
In the year to 31 March 2018, it generated turnover of £24.4m and made a small operating loss. Its biggest market is North America and it employs 130 staff.
People
Battery Ventures – Jesse Feldman (partner).
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