MADISON,
WI - APRIL 15, 2003 - NimbleGen Systems Inc. announced today the
closing of its series D financing in the amount of $12.5 million.
The Company, which provides customized high-density microarray
products and services with unprecedented flexibility for functional
genomics experiments, has raised $32.5 million to date since its
inception in 2000.
"This
round of financing is indicative of our investors' strong faith
in NimbleGen's innovative technology, products and services. We
are particularly pleased with the support we are receiving from
our strategic investors. Our European partner, Schott Nexterion,
continues to invest both its capital and expertise to help fuel
our sales growth," said Robert Palay, CEO and Chairman of
NimbleGen's Board of Directors. "We are also happy to announce
a new strategic investor, ITX Corporation of Japan. ITX's participation
greatly enhances our ability to launch new products and services
in Asia-Pacific."
Schott Nexterion
(Mainz, Germany), the life science division of the Schott Group,
a $2 billion European technology-based manufacturing company,
led the financing. "The NimbleGen business model fits closely
with Schott's strategic plan for investing in innovative microarray
technology platforms. We are building on our well-established
uncoated and coated flat glass products for DNA microarrays and
investing in new products and unique microarray technologies,"
said Dr. Dirk van den Broek, Schott Nexterion CEO. Schott Nexterion
was founded in October 2002 to expand Schott Group's opportunities
in biotechnology. "Schott considers this a strategic investment
in our plan to become a reliable partner to the pharmaceutical
industry for its research into active ingredients. NimbleGen's
technology fits the Schott motto: quicker, better, more efficient."
All of the
company's existing venture capital and institutional investors
participated in the round, including Skyline Ventures, Venture
Investors LLC, Baird Venture Partners, Tactics II Investments
LLC, State of Wisconsin Investment Board, and The Wisconsin Alumni
Research Foundation (WARF).
About
NimbleGen Systems Inc.
NimbleGen Systems provides customized high-density microarray
products and services with unprecedented flexibility for functional
genomics experiments. NimbleGen's technology combines photo-deposition
chemistry with digital light projection to shorten array fabrication
from months to less than three hours, and NimbleGen scientists
are aggressively developing and deploying new microarray applications
to speed discovery research. Customers benefit from extreme flexibility,
optimized array design, highly reproducible array fabrication
and statistically robust results-all with low cost and quick turnaround.
About
Schott Nexterion AG
In 2002 Schott, a $2 billion German technology-driven manufacturing
group, spun out an existing activity to form a new company, Schott
Nexterion AG, with the intention of building a new business in
the emerging market of biochips. In creating Schott Nexterion,
Schott has fused together the spirit of a young startup enterprise
with the strengths of Schott's industrial excellence in advanced
materials technologies. Today, Schott Nexterion offers glass and
coated glass components for biochips, but will soon crystallize
into a company supporting scientists in academia and the pharmaceutical
industry with reliable microarray consumables and services for
the drug discovery and allied markets. The business vision will
be realized with high quality products developed both in-house
and with partners in the biotech scene who offer leading microarray
technologies.
www.schott.com/health/english/index.html
About
ITX Corporation
ITX Corporation is a publicly traded investment and general trading
firm on Nasdaq Japan with $1.6 billion under management. ITX focuses
investment on unique and highly profitable target business opportunities.
ITX has, from the start, maintained a well-balanced portfolio
of vested companies at various stages of development, from the
newly launched to growing enterprises to fully matured businesses.
ITX can aggressively develop, invest in and promote new businesses
as a result of the stable profitability of mature ITX Group and
affiliated companies. ITX's target investment areas include broadband,
mobile communications, networking, semiconductors/electronics
and life sciences. Being located in Tokyo, Silicon Valley and
London, ITX reaches the world's business opportunities, with talented
personnel demonstrating a strong record of achievements.
www.itx-corp.co.jp/index_e.html
