"Our ambitions are great. We are working on changing the clinical practice in the largest established screening market in oncology with our diagnostic products. Wellington believed in our plan and management team and they are very supportive." Bob Silverman, CEO, mtm laboratories
Wellington contact:
Rainer Strohmenger
mtm laboratories
Taking cervical cancer innovations
to global markets
mtm laboratories is a certified developer and manufacturer of In-Vitro Diagnostics for the screening and diagnosis of cervical cancer. The company operates on a global basis with headquarters in Heidelberg, Germany, and subsidiaries in the US, France, Italy and Spain.
mtm laboratories is a certified developer and manufacturer of In-Vitro Diagnostics for the early diagnosis of cancer. The Company operates on a global basis with headquarters in Heidelberg, Germany and subsidiaries in the US, France, Italy and Spain. Founded in 1999 as a spin-off of the German Centre for Cancer Research the company focuses on the early detection of cervical cancer, the second most frequent cancer disease in women.
Cervical cancer screening represents the largest screening market in oncology with approximately 140 million Pap tests being performed every year in the developed countries. Nevertheless the disease causes more than 200,000 deaths every year worldwide.
mtm owns the rights on p16, a protein which is broadly accepted as the most promising single biomarker in cervical cancer detection. Based on this technology the company has developed diagnostic products for use in pathology, cytology, and by gynecologists and has already launched them for research use in Europe, the US, and Asia. Several large trials are under way to clinically validate the early diagnosis of cervical cancer on the basis of detection of p16 with mtm's products.
Wellington became the chosen investment partner for mtm during the second round. Selected initially for their speed of response and market knowledge, Wellington were also instrumental in helping to close the third financing round with a volume of EUR 22 million in 2006.