BioTrove, Inc. Completed a $13.7 Million Round of Financing With the Closing of a Second Traunch of $2.8 Million - Financing will accelerate commercialization of BioTrove's micro- and nano-

scale technology platforms -



    WOBURN, Mass., April 15 /PRNewswire/ -- BioTrove, Inc. today announced
 that the Company has successfully completed a $13.7 million round of
 financing, closing a second traunch of an oversubscribed round for
 $2.8 million.  The first traunch closed at $10.9 million.  Catalyst Health and
 Technology Partners led the round, supported by new investors Echelon Ventures
 and Fletcher Spaght.  Original investors from the first traunch include CB
 Health Ventures, Zero Stage Capital and BioFrontier Partners.  The funds will
 be used to accelerate commercialization of BioTrove's micro- and nano-scale
 products and services, the Living Chip(TM) and Momentum(TM) Assay Development
 and Screening, respectively.  The Company will also use the funds to support
 construction of a 10,000 sq. ft. manufacturing facility.
     "BioTrove is well poised to truly accelerate commercialization," noted
 Joshua Phillips, Managing Director at Catalyst Health and Technology Partners
 and a member of BioTrove's Board of Directors.  "With the recent announcement
 of the Living Chip's SNP genotyping application coupled with Momentum's
 initial pharmaceutical contract, BioTrove is moving into the next phase of
 commercialization."
     BioTrove's first commercial application based on the Living Chip platform
 is the SNP genotyping chip, which enables the analysis of 10s to 1,000s of
 SNPs at 25nl reaction volumes, providing researchers with flexibility
 regarding the numbers of SNPs and samples to analyze.
     "The Company has put into place a very sound commercial strategy that will
 result in a number of product applications scheduled to roll out within the
 next year," commented Dr. Enrico Petrillo, General Partner of CB Health
 Ventures, LLC.  "Our seasoned management team, validated product platforms and
 funding have all played key roles in BioTrove's success."
 
     About the Living Chip(TM)
     The Living Chip is a broadly applicable nano-liter fluidics technology
 platform for massively parallel and low-volume analysis of genetic, genomic,
 proteomic, biochemical and cellular samples.  The platform uniquely combines
 the parallelism of microarrays with the data quality of PCR to perform genetic
 and genomic assays, including genotyping and RNA expression analysis.
 
     About Momentum(TM) Assay Development and Screening
     Momentum Assay Development and Screening is a patent-protected, ultra
 high-throughput mass spectrometry service that enables microliter-scale
 functional assay development and screening of challenging targets with
 promising biology that are generally not pursued.  In the interest of
 accelerating discovery, companies often choose to forego many highly promising
 targets, because of the complexity in developing screening assays around such
 targets.  Momentum dissolves this bottleneck, transforming the drug discovery
 process by providing assay development and screening for these targets.
 
     About BioTrove, Inc.
     BioTrove, Inc. is a biotechnology company focused on advancing life
 science and drug discovery research by leveraging revolutionary micro- and
 nano-scale technologies. BioTrove has two core platforms: the Living Chip(TM),
 a broadly applicable nano-liter fluidics technology platform for massively
 parallel and low-volume analysis of genetic, genomic, proteomic, biochemical
 and cellular samples and Momentum(TM) Assay Development and Screening, an
 assay development and high throughput screening service that unlocks the value
 of intractable drug targets.  For more information on BioTrove, please visit
 the company's Web site at www.biotrove.com.
 
      For information contact:
      Patrick T. Carroll
      BioTrove, Inc.
      781-721-3632
      Pcarroll@biotrove.com
 
      Barbara Askjaer
      Feinstein Kean Healthcare
      617-761-6759
      Barbara.Askjaer@fkhealth.com
 
 

SOURCE BioTrove, Inc.

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