TTP Labtech Ltd, an international leader in the design and development of automated instrumentation and consumables for life science research is pleased to announce that investment from Battery Ventures has underpinned their aggressive growth plans.
Over the last 18 years TTP Labtech has successfully grown an impressive portfolio of automation, instrumentation and consumables products serving the pharmaceutical, biotechnology and academic research markets. The decision to divest TTP Labtech from TTP Group was undertaken to allow for growth and expansion plans.
In partnership with Battery, TTP Labtech will expand their premises on the Melbourn Science Park near Cambridge and will continue its proud tradition of high-quality manufacturing in the United Kingdom. Batterys additional resources will support increased investment in technology and complementary acquisitions.
Batterys investment team has been following TTP Labtech for a number of years and we are excited to have the opportunity to work closely with the TTP Labtech team to continue to build a global player in the large and growing sample preparation and sample management market, said Jesse Feldman, Battery Ventures general partner. The combination of TTP Labtechs product portfolio and the quality of the existing management team is an excellent foundation to continue to build upon.
This underpins our ambitious growth plans and enables us to further strengthen our position in the life science market and expand into new application areas. Its a very exciting time for us as we continue to work with our customers to improve workflows in drug discovery, structural biology, sample management, biobanking and genomics applications, commented David Newble, Managing Director, TTP Labtech.
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This is great news for TTP Labtechs customers and employees. We look forward to supporting Battery as they continue TTP Labtechs tradition of excellence in the sample preparation and sample management technology space. TTP Labtech now have a partner to support their growth vision and extend their industry reach through investment in R&D and acquisitions, said Peter Taylor, Chairman of the TTP Group.
Terms of the transaction were not disclosed.
About TTP Labtech www.ttplabtech.com
TTP Labtech offer a portfolio of products which minimise assay volumes, improve workflows and minimise costs within drug discovery, structural biology, molecular biology and genomics. We enable life scientists through collaboration, deep application knowledge and leading engineering to accelerate research and make a difference together. Our essential tools harness the power from innovative technologies such as positive displacement, laser scanning imaging cytometry and pneumatic tube transport. Many of our innovations have been born out of the desire to create solutions to existing customer problems; and its this ethos that drives TTP Labtechs R&D efforts. The substantial breadth of expertise within our company enables us to be involved in the full life cycle of our products from the initial design concept, mechanical and software engineering and prototyping, to final manufacture and sale. Our strengths come from the trust our customers have with us to develop truly unique, automated technologies to meet their needs.
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, London, Israel and New York. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery’s portfolio companies here.