Nanotechnology Now - Press Release: Nanotechnology Company Closes Equity Financing, Solidifies Strategic Additions to Management Team

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Abstract:
This week Carbon Nanoprobes Inc. (CN Probes), a nanotechnology firm, announced that it had successfully closed an A-round of investment capital as well as solidified several strategic additions to its management team.

Nanotechnology Company Closes Equity Financing, Solidifies Strategic Additions to Management Team

Seattle, WA | Posted on January 8th, 2008

This week Carbon Nanoprobes Inc. (CN Probes), a company specializing in nanotechnology and biotechnology, announced that it had successfully closed an A-round of investment capital as well as solidified several strategic additions to its management team.

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The funding will be used to complete the development and launch of CN Probes' flagship product, a carbon nanotube probe tip for the atomic force microscope (AFM). The product is a revolutionary imaging platform that will allow scientists and engineers in multiple fields, from biotechnology to chip fabrication to "see more and know more." As explained by the Company's CEO, 24-year-old Brian Ruby, "We take pictures of tiny things. We're nanophotographers and our pictures have value to scientists in multiple fields."

Silicon pyramids are the standard used as probes for AFM today. Although their production is well known and relatively inexpensive, making them quite affordable to the end user, some of their inherent properties currently limit the applicability of AFM to a wider and more demanding range of applications, as have been created by recent developments especially in nanotechnology and biotechnology. Carbon Nanotubes (CNTs) have been known since 1991, when multi-walled tubes (MWNT) were first synthesized. Single-walled tubes (SWNT) were isolated in the lab for the first time in 1993. Since then research groups around the world have been demonstrating many of the postulated highly favorable mechanical, electronic, thermal and structural properties especially of the SWNTs.

Key challenges to be addressed in the mass-production of CNT probe tips include reliably controlling tube yield, length, alignment and diameter. CN Probes has a continually growing IP portfolio designed with these challenges in mind. Providing an improved and reliable AFM probe technology as described above would meet the needs of a number of new evolving markets. CN Probes expects a release of its signature products some time in 2008.

Concurrent with the closing of financing, CN Probes also enhanced its management team and board of directors. Among whom are Brian Morton, a 10-year startup veteran as Chief Marketing Officer and 3 new directors, all of whom have had previous management and/or directorate experience at public companies. Morton commented, "I am a senior management executive with 14 years of progressive experience in the Medical Device Industries…when deciding on my next career move, I wanted to choose an organization that had superior technology, a product that would excel in the market place, and talented executive leadership with a sold business model…after meeting with Brian, I quickly realized that CN Probes possesses all of those qualities and more."

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About Carbon Nanoprobes Inc.
CN Probes was founded in 2003 and is committed to the mass fabrication of nanostructured AFM consumables. The nanotechnology company is based on a technology platform invented by CN Probes' CEO and Founder, providing many innovations to the biotechnology field.

For more information, please click here

Contacts:
Brian Morton
Chief Marketing Officer
Carbon Nanoprobes
Phone: 619-778-0297

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