BioNanomatrix Increases Seed Funding and Receives NCI Grant to Develop New Cancer Detection Technology -21Ventures and Ben Franklin Technology Partners Provide New Seed Funding-

    PHILADELPHIA, May 17 /PRNewswire/ -- BioNanomatrix LLC, an emerging
 company developing a breakthrough nanoscale whole genome imaging and
 analytic platform, today announced receipt of a two-year grant from the
 National Cancer Institute and new seed financing from two venture investors
 -- New York-based 21 Ventures LLC and Ben Franklin Technology Partners of
 Southeastern Pennsylvania. Ben Franklin Technology Partners has made a seed
 investment in BioNanomatrix and 21Ventures is providing a bridge financing
 to help support the company until its expected Series A financing closes
 later this year.
     BioNanomatrix is developing state-of-the-art integrated systems that
 enable nanoscale single molecule identification and analysis of the entire
 genome in a highly multiplexed format. The company's patented
 NANOANALYZER(TM) platform based on this breakthrough technology provides
 more rapid, high resolution, comprehensive and cost effective analysis of
 DNA, RNA and other proteins than is possible with currently available
 approaches. BioNanomatrix is initially focusing on applications in cancer
 diagnostics, but its technology platform and biochip systems also have
 broad application in systems biology, pathogen detection, drug development
 and clinical research.
     "This is an exciting time for our company as these funds will help us
 accelerate our programs to develop new clinical diagnostics systems based
 on our nanoscale discoveries with unprecedented capabilities," said Dr.
 Michael Boyce-Jacino, president and CEO of BioNanomatrix. "NCI's award of a
 Small Business Investment Research (SBIR) grant further recognizes the
 potential of our NANOANALYZER platform in the development of innovative
 cancer detection devices and methodologies."
     By solving the problem of how to assess individual DNA or RNA molecules
 in a single file, linear manner, BioNanomatrix' whole genome nanoscale
 platform makes possible key analyses that were not formerly feasible on a
 routine basis. These include analysis of many of the contextual factors
 affecting genomic expression, including haplotype structures and epigenomic
 features, in an automated, standardized way that facilitates clinical
 interpretation and use.
     "Medical researchers predict that the market for genomics research,
 specifically biochips and their use in systems biology, clinical cancer
 research and drug discovery, will increase exponentially over the next
 several years," said David Anthony, managing partner of 21Ventures. "We
 have been impressed by the combination of BioNanomatrix' breakthrough
 technology and the exceptional talent, dedication and discipline of its
 staff, and we look forward to their progress towards commercialization."
     Dr. Boyce-Jacino concluded, "We also want to acknowledge Ben Franklin
 Technology Partners for reaching out to support a regional neighbor, as
 well as Innovation Philadelphia, which supported our NCI grant application
 with a "Research Dollars" microgrant. Our technology was invented at
 Princeton University and we maintain a portion of our lab activities there,
 but we also intend to locate our new headquarters in greater Philadelphia,
 where we will be able to benefit from the region's nanotechnology resources
 and its many programs designed to support innovative life sciences
     About BioNanomatrix
     BioNanomatrix is an emerging company applying its breakthrough
 nanoscale whole genome imaging and analytic platform to cancer diagnostics,
 clinical genetics and other applications. It designs and manufactures
 nanochips, nanodevices and nanosystems for biomedical applications, using
 its patented NANOANALYZER(TM) technology platform. This platform provides
 fast, comprehensive, and low-cost analysis of genomic, epigenomic and
 proteomic information with sensitivity at the single cell/single molecule
 level. BioNanomatrix' patented technologies are exclusively licensed from
 Princeton University. Founded in October 2003, the company is headquartered
 in Philadelphia, PA, with its research and design laboratories co-located
 at Princeton University. For more information, visit: .
     About 21Ventures LLC
     Founded in 2003, 21Ventures invests in seed and bridge financing for
 both private and public technology ventures in Israel and non-core
 technology regions across the U.S.; its goal is to bridge the widening gap
 between "friends and family" funding and initial professional capital.
 21Ventures focuses on portfolio companies in the Energy, Financial
 Services, Information Technology, Life Science, Media, Semiconductor and
 Telecommunication markets. In addition to its VC activities, 21Ventures
 designs and delivers entrepreneurial training programs for scientists,
 engineers and technology developers worldwide. The company is headquartered
 in New York City and has made eleven investments to date. Visit: .
     About Ben Franklin Technology Partners of Southeastern Pennsylvania
     Since 1982, Ben Franklin Technology Partners of Southeastern
 Pennsylvania (BFTP/SEP) has served as a catalyst for stimulating
 entrepreneurial potential with the integration of scientific discovery and
 technology development and through initiatives that accelerate
 commercialization. Part of a statewide network in Pennsylvania, BFTP/SEP
 provides entrepreneurs and established businesses the capital, talent, and
 expertise they need to compete in the global marketplace. BFTP/SEP has
 provided more than $110 million to over 1,400 regional enterprises through
 various funding means. BFTP/SEP is a founding partner of the Nanotechnology
 Institute(TM) (NTI) and the Mid-Atlantic Nanotechnology Alliance (MANA(R))
 and is funded by Pennsylvania's Department of Community and Economic
 Development. For additional information, visit .
      BioNanomatrix           BioNanomatrix Media       21Ventures
      Michael Boyce-Jacino    GendeLLindheim BioCom     Steven M. Plavny
      609 818-0054             Partners                 Mobile: 770-235-5918
                              Barbara Lindheim
                              212 918-4650

SOURCE BioNanomatrix LLC

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