Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > BioNanomatrix Secures $23.3 Million in Series B Financing: Domain Associates leads round for genomics company; Battelle Ventures, Gund Investment Corp., Innovation Valley Partners and KT Venture Group participate

Abstract:
BioNanomatrix, Inc., a developer of nanoscale, single-molecule imaging and analysis platforms designed to dramatically reduce the time and cost needed to analyze the genome, has closed a $23.3-million Series B round of equity financing.

BioNanomatrix Secures $23.3 Million in Series B Financing: Domain Associates leads round for genomics company; Battelle Ventures, Gund Investment Corp., Innovation Valley Partners and KT Venture Group participate

Philadelphia, PA | Posted on March 18th, 2011

Domain Associates, based in Princeton, N.J., and San Diego, Calif., led the round, with new investor Gund Investment Corporation and existing investors Battelle Ventures, Innovation Valley Partners and KT Venture Group joining the round.

"The Series B financing comes at a pivotal time for the company, as we advance toward commercialization of our unique nanoAnalyzer platform for whole genome analysis," said R. Erik Holmlin, newly elected president and chief executive officer of BioNanomatrix.

Holmlin noted that BioNanomatrix introduced the nanoAnalyzer 1000 System at the 2010 annual meeting of the American Society of Human Genetics last November and said that the company "has already placed a number of systems with early-access users."

"BioNanomatrix has made impressive progress in developing and refining its platform technology and testing the nanoAnalyzer in collaboration with leading researchers in the genomics field," said Domain Associates Partner Brian K. Halak, PhD., who joins the company's Board of Directors.

"This capital infusion enables BioNanomatrix to establish a strong West Coast presence that will provide additional business opportunities and the ability to recruit from a talent base that has established this industry," Dr. Halak continued.

"Looking ahead," he said, "we are confident that the affordability, speed and simplicity of the nanoAnalyzer technology will make the routine use of genetic information feasible in broad-ranging applications, including molecular diagnostics, personalized medicine and biomedical research."

####

About BioNanomatrix, Inc.
Named in 2010 as one of 50 companies to watch by Medical Device and Diagnostic Industry, BioNanomatrix is developing and commercializing technologies for analysis of large biological molecules, such as nucleic acids, which are vital to life science research, clinical diagnostic applications and development of new therapeutics. This technology is designed to dramatically reduce the time and complexity to analyze the genome and provide additional information, including structural variation data, which is not easily addressed with current methods. The company’s products will provide users with the means to perform single-molecule analyses on minute biological samples that are essentially unattainable, too impractical or too costly to achieve using current technology. The company’s current development efforts include a NIST-ATP-funded project to sequence the human genome at a cost of $100, as well as support from the National Institutes of Health.

Note: BioNanomatrix and nanoAnalyzer are trademarks of BioNanomatrix, Inc. Any other names of actual companies, organizations, entities, products or services may be the trademarks of their respective owners.

For more information, please click here

Contacts:
Rick Sacks
973-467-8728

Copyright © Business Wire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

Imaging

National Synchrotron Light Source II Achieves 'First Light' October 23rd, 2014

Special UO microscope captures defects in nanotubes: University of Oregon chemists provide a detailed view of traps that disrupt energy flow, possibly pointing toward improved charge-carrying devices October 21st, 2014

Super stable garnet ceramics may be ideal for high-energy lithium batteries October 21st, 2014

Detecting Cancer Earlier is Goal of Rutgers-Developed Medical Imaging Technology: Rare earth nanocrystals and infrared light can reveal small cancerous tumors and cardiovascular lesions October 21st, 2014

News and information

Novel Rocket Design Flight Tested: New Rocket Propellant and Motor Design Offers High Performance and Safety October 23rd, 2014

MEMS & Sensors Technology Showcase: Finalists Announced for MEMS Executive Congress US 2014 October 23rd, 2014

Nanoparticle technology triples the production of biogas October 23rd, 2014

SUNY Polytechnic Institute Invites the Public to Attend its Popular Statewide 'NANOvember' Series of Outreach and Educational Events October 23rd, 2014

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

TARA Biosystems and Harris & Harris Group Form Company to Improve Safety and Efficacy of New Therapies October 22nd, 2014

Investments/IPO's/Splits

TARA Biosystems and Harris & Harris Group Form Company to Improve Safety and Efficacy of New Therapies October 22nd, 2014

Arrowhead Issues Open Letter to Shareholders October 9th, 2014

PEN Inc. Announces New Trading Symbol: PENC: Stock Continues Trading on the OTCQB September 3rd, 2014

Aspen Aerogels, Inc. to Present at Barclays CEO Energy-Power Conference August 27th, 2014

Announcements

Nanoparticle technology triples the production of biogas October 23rd, 2014

SUNY Polytechnic Institute Invites the Public to Attend its Popular Statewide 'NANOvember' Series of Outreach and Educational Events October 23rd, 2014

Advancing thin film research with nanostructured AZO: Innovnano’s unique and cost-effective AZO sputtering targets for the production of transparent conducting oxides October 23rd, 2014

Strengthening thin-film bonds with ultrafast data collection October 23rd, 2014

NanoNews-Digest
The latest news from around the world, FREE





  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE