mtm laboratories Extends Series C Financing Round by €7M
Summary
This addition is a formal expansion of the company’s last Series C in March 2008 and increases the total for the round to €39m (approximately $57m) in equity.Arthur Franken from Gilde Healthcare Partners will join as a new member of the Supervisory Board.Commenting on the financing, Bob Silverman, Chief Executive Officer of mtm laboratories, said: “This additional tranche will put mtm in a more favourable position to further leverage the clinical and commercial development of additional product lines.We would also like to welcome Arthur Franken to our Supervisory Board – we feel that mtm will benefit extensively from his experience and commitment”.The Company operates on a global basis with headquarters in Heidelberg, Germany and subsidiaries in the United States, France, Italy and Spain.