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news.mtm laboratories has signed a third tranche of E9.6 million to its series c funding. This addition increases the total for the round to E31.6 million or $50 million in equity.
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mtm plans to use the proceeds of this financing to expand the clinical and commercial development of its p16INK4a based CINtec and Cervatec IVD products.
Peter Pack, CEO of mtm, said: “This additional tranche added to favourable sales of our marketed products will help to fund the development and marketing of further product lines.”