MBM Commercial Assists in £4.2 Million Funding Transaction for Carcinotech’s US Expansion

MBM Commercial, a leading legal firm specialising in corporate transactions, is delighted to announce its role in facilitating a £4.2 million funding round for Carcinotech, a pioneering medical technology company based in Edinburgh. The funds raised will fuel Carcinotech's expansion into the US market.

Carcinotech, known for its cutting-edge 3D technology used in cancer drug testing, secured this significant investment from a consortium of investors, including EOS Advisory, Scottish Enterprise, Old College Capital, and Investing Women. The round also saw participation from existing backers TRICAPITAL, SIS Ventures, Gabriel Investment, Alba Equity and included investment from one US investor.

The British Business Bank (BBB) played a pivotal role in the transaction, providing a £750,000 equity package through its appointed fund manager, Maven Capital Partners.

MBM Commercial provided comprehensive legal counsel throughout the transaction including on US securities laws compliance, ensuring a smooth and successful funding round for Carcinotech.

Commenting on the investment, Carcinotech’s CEO and founder, Ishani Malhotra, expressed her gratitude, stating, “MBM Commercial played a crucial role in navigating the complexities of this transaction. Their legal expertise and dedication were instrumental in securing the funding we needed for our expansion into the US market.”

The lead lawyer on the deal for MBM, Alexander Lamely added, "It has been a privilege to work closely with Ishani and the Carcinotech team on this funding round, which marks a significant milestone for the company. Our US team is excited to help as the company expands in the US and we look forward to continuing our partnership with innovative companies driving positive change in the healthcare sector.”