Biomicro Systems Closed A Series B Financing With Vspring, Nanostart AG and Staley Capital Advisors
Salt Lake City, Utah – September 27, 2007 –BioMicro® Systems announces today that the company has closed a Series B financing with vSpring, Nanostart AG and Staley Capital Advisors. To date, BioMicro Systems has raised $10 million in equity funding since inception.
BioMicro Systems manufactures the market leading MAUI® hybridization product line that includes the patented MAUI System and MAUI Mixer hybridization chambers that enable researchers to achieve a 3-10 fold increase in sensitivity and consistent, reproducible results compared to traditional coverslip or static microarray hybridization methods.
“I am thrilled to have vSpring, Nanostart and Staley Capital’s investment in BioMicro to finance the growth and expansion of the acclaimed flagship MAUI hybridization line,” stated Michael Feldman, Ph.D., Chief Executive Officer of BioMicro Systems. “Already a premier microarray technology provider, we will be using these resources to broaden our product portfolio to include Kreatech reagents, Arrayjet microarrayers and soon-to-be announced new products.”
“BioMicro continues to demonstrate exceptional products and financial performance,” said investor Greg Warnock, vSpring Fund I Managing Director. “The strong growth in the microarray market is driving demand for simpler, more accurate results.”
About BioMicro Systems, Inc.
BioMicro Systems is a private company that serves the life sciences community by developing and marketing biological research products based on its proprietary microfluidic and microarray technologies. Since 2003 BioMicro Systems has sold over 500 MAUI Hybridization Systems, disposable MAUI Mixer microarray hybridization chambers combined with a cutting-edge microarray hybridization instrument, designed to alleviate the processing bottleneck encountered during the microarray hybridization process and to help researchers achieve greater sensitivity and more consistent/reproducible results. BioMicro Systems strives to become the company to provide the standard for achieving superb microarray hybridization results. More company information can be found at www.biomicro.com.
About vSpring
vSpring is a traditional early-stage venture capital firm with over $290 million of committed capital under management. vSpring, based in Salt Lake City, focuses its investments in seed and early-stage biotech and IT companies in the western United States. vSpring concentrates on firms with disciplined, experienced and driven management teams capable of developing credible business models likely to lead to profitable operations. Mentoring early-stage technology companies, vSpring aims to provide excellent returns to its investors and expand venture potential in the western United States.
About Nanostart AG
Nanostart AG is Europe’s leading nanotechnology investment company, with headquarters in Frankfurt, Germany. The company is organized into two divisions: the Portfolio Division, which manages its own investment holdings; and the Financial Services Division, which advises financial service providers on investing in the nanotechnology sector.
About Staley Capital Advisors, Inc.
Staley Capital Advisors, Inc. is a Pittsburgh-based private investment management firm providing for the active management of its partners' capital. Staley Capital also extends its services to high net worth individuals and institutional clients. The firm's activities include a private investment partnership (Forum Capital Partners), client-directed separate accounts and direct investments in private equities to include venture capital and established companies. The firm is also involved in corporate mergers and acquisition advisory activities, focusing on corporate purchase and sale transactions.
