HistoRx Raises $6.0 Million in Series B Funding to Advance Diagnostic Product Development

    NEW HAVEN, Conn., Oct. 24 /PRNewswire/ -- HistoRx, Inc., announced
 today that it has secured $6.0 million in a Series B private equity
 financing round. Current investor Brook Venture Partners led the round.
     In addition to Brook Venture Partners, participants in the financing
 included another Series A investor, Navigator Technology Ventures, as well
 as three new investors: The Roche Venture Fund, Commons Capital, and Maven
 Capital.
     HistoRx will use the funds to advance development and commercialization
 of its portfolio of proprietary tissue-based diagnostic products developed
 from the company's patented AQUA(R) biomarker analysis platform.
     "These funds provide the resources necessary to move our product
 portfolio of diagnostic tests through later-stage development, FDA
 approval, and commercialization," said Rana K. Gupta, CEO of HistoRx. "We
 are gratified by the interest in HistoRx from these highly regarded new
 investors, along with the support shown by our existing shareholders."
     Fred Morris, General Partner of Brook Venture Partners, commented, "We
 are excited about the tremendous traction HistoRx' AQUA(R) technology has
 generated in the field of tissue biomarker analysis, with strong market
 uptake by pharmaceutical partners who are using AQUA(R) to better
 understand the biology of their oncology compounds in development; and with
 investigators in pathology and oncology at leading academic and research
 institutions worldwide adopting the AQUA(R) technology and highlighting its
 potential diagnostic utility. We are pleased to lead this financing and to
 partner with this high-caliber investor syndicate and management team in
 guiding the company through its next phase of growth."
     "The Roche Venture Fund is pleased to be part of the future of HistoRx
 and the AQUA(R) technology, which is helping to advance a more personalized
 form of health care," stated Simon Meier, Investment Manager of the Roche
 Venture Fund. "The AQUA(R) technology will provide physicians with more
 precise information that will enable them to target therapies more
 accurately to individuals and thereby improve patients' lives."
     About HistoRx
     HistoRx, Inc. is a leader in the emerging field of tissue-based
 diagnostic products for targeted patient treatment. The company's products
 and services are based on proprietary AQUA(R) technology, the first
 platform capable of measuring biomarker concentration with subcellular
 resolution in tissue sections in a fully standardized and automated manner.
 HistoRx partners with pharmaceutical and biotechnology companies to
 generate precise and cost-effective answers about the safety and
 effectiveness of targeted therapeutics in development for cancer and other
 diseases. These partnerships provide the foundation for HistoRx to develop
 companion diagnostic tests that will be co-marketed with partners' targeted
 therapeutics. HistoRx also pursues internal programs to develop proprietary
 standard-of-care diagnostics that will enable improved treatment decisions
 in cancer care.
     Brook Venture Partners is a top quartile venture investment firm which
 provides expansion stage capital to information technology and medical
 technology companies located in the northeastern United States. The firm
 focuses on initial investments of $2-5 million. Brook is headquartered
 outside Boston in Wakefield, MA. For information call 781-295-4000 or visit
 http://www.brookventure.com.
     Roche Venture Fund makes investments in early stage biotech and
 diagnostics companies to support innovative technologies and medicines.
 Based in Basel, Switzerland, the Roche Venture Fund manages a portfolio of
 over 25 companies in 10 countries.
     Maven BioCapital, LLC, a Maven Capital LLC fund, is an investment fund
 that invests primarily in early stage growth capital opportunities. The
 fund, leveraging the background of its management, invests broadly but
 specializes in businesses with intellectual property and focuses on
 healthcare, medical devices, life sciences and physical sciences. Maven
 Capital, LLC invests in opportunities in information technology and real
 estate as well.
     Commons Capital LP is a venture capital fund seeking strong financial
 returns as well as significant social and environmental impact. We invest
 in "double bottom-line" early-stage companies whose products, services, or
 corporate cultures promote a sustainable economy by delivering market
 solutions to major social and environmental challenges.
     Navigator Technology Ventures located in Cambridge, MA and led by Alain
 Hanover is an early-stage, technology venture capital firm that seeks to
 fund technology-rich start-ups. With the assistance of Draper Laboratory,
 NTV invests in unique, highly proprietary technologies.
     CONTACT:
     Mary Moynihan
     M2Friend Biocommunications
     (802) 951-9600
     mary@m2friend.com
 
 

SOURCE HistoRx, Inc.