(Correcting to say that Molten Ventures' portfolio firm is Endomagnetics, not Hologic).

(Alliance News) - Molten Ventures PLC on Tuesday said its portfolio company Endomagnetics Ltd will be acquired by Hologic Inc for around USD310 million.

The venture capital firm has been investing in Endomagnetics since 2018. The deal would value its stake in Endomagnetics modestly above its group holding value of GBP35 million, it said.

Endomagnetics is a Cambridge, England-based medical technology company with a focus on improving the global standard of care in breast cancer.

Hologic is a Massachusetts, US-based medical technology company.

Chief Executive Officer Martin Davis said: "This transaction, alongside Perkbox, demonstrates our ability to support innovative businesses as they scale and create value for our shareholders through the cycle.

"The news follows our recent announcement in relation to Perkbox, and reflects the additional momentum being seen in the realisations market. With multiple realisation processes either underway or planned across the portfolio we expect to deliver in the region of [GBP]100 million of capital back to the balance sheet this financial year."

Shares in Molten were up 8.0% to 282.50 pence each in London on Tuesday afternoon.

By Sabrina Penty, Alliance News reporter

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