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mtm laboratories AG, Heidelberg

mtm's IVD products are based on the detection of the clinically validated biomarker p16 for cervical cancer. Since p16 is over-expressed only in cells which have started abnormal proliferation these tests allow the identification of precancerous and cancerous cells with an unsurpassed specificity at a comparable sensitivity of the conventional HPV testing. This unique diagnostic value of p16 was discovered by Magnus von Knebel Doeberitz and provided the basis of a spin off out of academia which was supported by seed financing of Heidelberg Innovation which acted as leadinvestor of the first financing round as well as coinvestor of follow on rounds. Since then the company has developed from a research play into an ISO certified manufacturer and marketer of in vitro diagnostics. Thus, the company manufactures and commercializes diagnostic products for cell-based analysis of cervical biopsies (CINtec® Histology) and cytology specimens (CINtec® Cytology) and its ELISA based assay, Cervatec®. These products are meanwhile commercialized by the company´s own direct sales force in Europe and the US as well as through a network of distributors in ROW markets. CINtec® histology is fully approved with clinical claims in Europe whereas it is available as class I in vitro-diagnostic in the US so far and is on its way to develop into the gold standard of the histological diagnosis of cervical cancer. CINtec® cytology was launched with clinical claims into the European markets in 2008 and CINtec®PLUS in March 2010. The cytology tests are in clinical development in the US. The biochemical assay based on the detection of p16 of soluble cervical smear lysates was launched in Germany in 2008.

mtm was sold to Roche Diagnostics on July 19, 2011 for up to € 190m (€ 130m downpayment and approx. € 60m performance related milestones).

Investment Manager:
- Prof. Dr. Ulrich Abshagen