MADISON, WI - September 11, 2001-NimbleGen Systems, Inc., a closely held genomics technology company, announced today that it raised $9 million in a private round of equity financing. This round brings the total amount NimbleGen has raised to in excess of $12.5 million. The new investors include Venture Investors Management LLC, Baird Venture Partners and State of Wisconsin Investment Board. Existing investors participating in this round include Skyline Ventures, Tactics II Investments LLC and The Wisconsin Alumni Research Foundation ("WARF"). The Company has also previously received a $500,000 Technology Development Loan from the Wisconsin Departwment of Commerce.

NimbleGen produces Custom High Density DNA Arrays and is developing DNA Array Systems that are based upon its proprietary Maskless Array Synthesizer (MAS) technology. The MAS technology permits the Company to develop and manufacture custom DNA arrays in less than four hours which have the consistency of traditionally manufactured arrays, allowing researches to do massive parallel analysis of gene expression in many different genomes. The MAS technology, which is based upon the use of digital mirrors like those used in "PowerPoint" projectors, will enable users to create High Density Custom DNA Arrays in their own laboratories, thereby, greatly accelerating genomic discovery. NimbleGen has the exclusive worldwide license to the MAS technology from WARF. The inventors of the technology from the University of Wisconsin include Dr. Fredrick Blattner, Dr. Michael Sussman, Dr. Franco Cerrina and Dr. Roland Green.

Mike Treble, NimbleGen's CEO said: "We are pleased that we have received such a positive response to our plans from the investment community. Our business model is unique, insofar, as we can provide the same type of efficiencies and flexibility to the genomics researcher that has been accomplished with the evolution of laser printers in the computer industry. Our ability to produce high density, custom DNA arrays with the quality of manufactured arrays makes us unique in this high growth sector of the genomics industry."

"The technology of using digital mirrors to create maskless, high-density arrays is moving forward at a very rapid pace. We completed our first 'pre-manufacturing run' of high density, DNA arrays and have achieved great results," said Roland Green, Ph.D., the Company's Vice President of Molecular Research. "Based upon this initial run, we are starting to gear up to provide these arrays to collaborators over the summer."

According to John Neis of Venture Investors, "The NimbleGen story was very compelling to us. They have removed the technical risks and demonstrated the capabilities of the Maskless Array Synthesizer, the cost and speed advantages offer clear economic benefits to the researcher, and they have assembled an experienced management team that we have had the good fortune to work with in a previous deal."

"NimbleGen fits the characteristics of the early-stage companies in which BVP makes investments -- innovative technology, strong management, a well-defined business strategy and plenty of upside commercial potential," said Paul J. Carbone, Managing Partner, Baird Venture Partners. "We are particularly pleased to be involved in that NimbleGen is a Wisconsin company leveraging technology developed at the University of Wisconsin."

NimbleGen is developing and commercializing systems to acquire, analyze and manage complex genetic information using its Maskless Array Systems to empower users. The Company's system consists of high density, custom DNA arrays containing gene sequences on a chip, reagents for use with the DNA arrays and instruments to process custom DNA arrays and software to analyze and manage genetic information.

Venture Investors Early Stage Fund III, Limited Partnership is a private venture capital fund focused on early stage companies in Wisconsin and contiguous states. The fund is an affiliate of Venture Investors of Wisconsin, Inc.

Note:

Baird Venture Partners (BVP) makes private equity investments in early-stage growth companies primarily in the areas of Technology Services, Communications and Life Sciences. BVP is the venture capital affiliate of Robert W. Baird & Co. Incorporated, an international wealth management, investment banking, asset management and private equity firm with operations in 16 states and five countries.

Skyline Ventures, formed in 1997, is a nationally-known firm that specializes in hands-on investing in early stage healthcare companies. Skyline focuses on drug discovery tools, biotechnology, medical devices and healthcare information technology. The firm has raised two funds and has $100 million under management.

Tactics II Investments LLC is a privately held Midwestern based merchant banking firm. The firm's venture capital arm focuses on investments in public and private early stage life science companies with a preference for genomic, functional genomic, proteomic, bioinformatic and developmental biology firms.

The State of Wisconsin Investment Board is a state agency that invests the assets of the Wisconsin Retirement System, the State Investment Fund, and several smaller trust funds established by the state. As of December 31, 2000, assets under management totaled $67.0 billion.