MADISON,
WI - October 17, 2001-NimbleGen
Systems, Inc., a closely held genomics technology company, announced
today a second closing in its series B financing, bringing the
total raised to $10.5 million. The additional $1.5 million was
added closing round B, bringing the total funds raised to date
to $14 million.
On September
11, 2001, NimbleGen announced that it raised $9 million in the
first closing. Investors included: Venture Investors Management
LLC, Baird Venture Partners, State of Wisconsin Investment Board,
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 Department of Commerce.
Mike Treble,
NimbleGen's CEO said: "We're pleased to have secured this
additional financing in the series B round. These additional funds
will help accelerate NimbleGen's development and commercialization
of its custom high density DNA arrays and DNA array systems, and
will allow the company to move forward with its programs using
its proprietary MAS
technology."
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.
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.
