UK - UPF seals first deal
MTI Partners' recently launched fund UMIP Premier Fund (UPF), targeting University of Manchester spin-outs, has invested ТЃ1m into Myconostica, a medical diagnostics company, as part of a ТЃ5.4m funding round.
The company specialises in rapid and highly specific tests for life-threatening fungal infections. MTI joined existing investors Nexus Medical Partners, Innoven Partenaires, Medicis Ventures and Amphion Innovations, which all invested previously in a first-round of funding.
UPF was launched in April 2008 and has raised around £32m to date.
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