Cellomics announces completion of new financing round and balance sheet restructuring to provide working capital to continue commercial expansion
Cellomics has announced a $5.3 million round of financing.
The list of investors includes Carl Zeiss Microimaging, Oxford Bioscience Partners, Vector Fund Management, InterWest Partners, Alta California Partners, Burrill Biotechnology, Axiom Venture Partners, and CK Capital.
In 2003, Cellomics collaborated with Carl Zeiss to design, engineer and manufacture the ArrayScan VTI which was launched in the fourth quarter.
Carl Zeiss Microimaging is also a distributor and service partner of Cellomics for the North American academic and biotechnology markets.
The new board of directors consists of Jim Sharp, president of Carl Zeiss Microimaging; Dan Calvo, president and CEO of Cellomics; Lansing Taylor, founder and former chairman and CEO of Cellomics; Norbert Gorny, member of the board of management of Carl Zeiss Germany; Uli Simon, executive VP and general manager, microscopy group, Carl Zeiss Jena, Germany; Jonathan Fleming, managing partner, Oxford Bioscience Partners; and Barclay Phillips, managing director, Vector Fund Management.
"We are delighted to have the continued support of our core investors", stated Calvo. "This financing round includes a restructuring of our balance sheet, resulting in a very healthy debt-to-equity ratio and provides necessary working capital to continue our commercial expansion.
"This financing, coupled with the completion of the company's restructuring efforts, which began in early 2002, plus continued revenue growth, makes Cellomics a financially sound, operationally-oriented company, positioning us for profitability in 2004.
"Our relationship with Zeiss continues to add value to our performance as evidenced by the successful, on-time launch of the ArrayScan VTI and expanded placements of our KineticScan HCS reader into key academic institutions."
