A consortium of investors has led a series-C financing of mtm laboratories. The round will enable the company to fund the clinical development and commercialisation of its proprietary diagnostic and screening devices in the field of cervical cancer. mtm is based in Heidelberg and has developed a number of bio-markers for cervical cancer. It also has operations in Westborough, near Boston.
Deal will be the second add-on acquisition for Danoffice since Agilitas's buyout of the company in November 2017
Bowmark will provide additional funding of £100m to fund the company's add-ons acquisitions
Exit represents an 18x return on Octopus's initial investment and a 9x return on its total investment
Deal follows M&A litigation initiated after coronavirus uncertainty and financing difficulties