STATE COLLEGE, Pa., Dec. 5 /PRNewswire/ -- NanoHorizons(TM), Inc.
announces the close of its final A round of funding, including significant
investments by both existing and new investors. This new round was initiated
in March 2005 as a Series A1 preferred round and closed on October 31, having
raised approximately $2.2 million of additional equity capital. This
significantly exceeds the level originally intended, driven by strongly
increased investor interest in the company's capabilities and accelerating
market demand for NanoHorizons's products.
"We are particularly proud to have our initial investors enthusiastically
increasing their investments in NanoHorizons," said Robert F. Burlinson,
president and CEO, NanoHorizons. "We attribute this level of interest in part
to the dramatic success of our line of SmartSilver(TM) additives, which are
already being used in fiber and fabric applications and have great potential
in other areas."
In addition to a new group of sophisticated private investors, returning
investors included members of Pulsar Ventures, which had provided the Company
with its initial funding at its inception in 2002 -- as well as Life Sciences
Greenhouse of Central Pennsylvania and Ben Franklin Technology Partners.
"NanoHorizons has been impressive in both its product development and its
business strategies," said Dr. Edward M. Frymoyer, Managing Director of Pulsar
Ventures. "The company has shown great market and product focus, while
investing aggressively in revenue-generating technology and activities. The
investments produced an impressive breadth and quality of market-driven
products. The effective management and execution of the excellent technical
and business team have exceeded our expectations. Since 2002 NanoHorizons has
moved nanotechnology to NOW technology."
"The completion of our new manufacturing facilities, and the accelerating
adoption of our products in the textile industry bear witness to our
capabilities in delivering innovative nanotechnology solutions to real-world
problems," said Dr. Stephen Fonash, Chairman and CTO, NanoHorizons. "The
future will see an expansion of our SmartSilver(TM) product line and
development of other custom specialty additives for materials improvement."
In addition to its most recent round of funding, NanoHorizons has also
secured low-cost capital loan commitments from the Department of Commerce and
Economic Development of the State of Pennsylvania and the Centre County (PA)
NanoHorizons, Inc. focuses on nanotechnology applications in the fiber and
textile, healthcare and microelectronics industries. The company's research
and development team addresses real-world problems with applied nanoscale
NanoHorizons's products and application introductions include:
SmartSilver(TM) and other commercially available nanoparticle-based additives;
E47(TM) antimicrobial fibers; QuickMass(TM), which addresses the need for more
cost-effective pharmaceutical research and increased drug discovery capacity;
the Postflex process for flexible displays, circuits and sensors on plastic;
and, nano-materials for sensors for environmental control and medical
applications and solar cell technology. To learn more about NanoHorizons,
please visit http://www.nanohorizons.com. For inquiries related to E47(TM)
antimicrobial fibers and fabrics based on nanoscale-engineered additives from
NanoHorizons, please contact ARC Outdoors at 877-974-4353 or
Nicolas A. Boillot
Dennis I. Schneider
SOURCE NanoHorizons, Inc.