NimbleGen Systems has announced the closing of its series D financing in the amount of $12.5 million; it has now raised $32.5 million altogether
NimbleGen Systems has announced the closing of its series D financing in the amount of $12.5 million.
The company, which provides customised 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, 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 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, Baird Venture Partners, Tactics II Investments, State of Wisconsin Investment Board, and The Wisconsin Alumni Research Foundation (WARF).
