EMERYVILLE, Calif., March 7 /PRNewswire/ -- Nanomix Inc., a leading
nanotechnology company commercializing a line of nanoelectronic detection
devices for industrial and biomedical applications, today announced the close
of an oversubscribed $16 million round of funding. The investment reflects the
strong support of new investors Harris & Harris Group, Inc. (Nasdaq: TINY) and
STAR Ventures, as well as existing investors Alta Partners, Apax Partners,
Sevin Rosen Funds and EnerTech Capital Partners.
Nanomix is focused on broad deployment of Sensation(TM) detection
technology, based on ultra-sensitive carbon nanotube networks. The sensors are
treated with proprietary chemistries resulting in a wide variety of products
that are applicable to large, fast growing markets such as: environmental
monitoring, respiratory diagnostics and bio molecule detection.
"The new round of funding will accelerate our commercialization of
Sensation(TM) detection technology," said David Macdonald, President and CEO
of Nanomix. "Our detection platform provides access to critical information
not currently available. With products launching this year, we believe that
Nanomix is one of the first companies to be launching devices that harness the
features of nanoelectronics. I believe this has contributed strongly to the
high-level of investor interest that has significantly exceeded our maximum
level established for this round of funding. We are encouraged to have our
progress and direction validated by such a prestigious group of investors."
"We are enthusiastic about leading this round of funding for Nanomix,"
said Dr. Daniel Leff, Executive Vice President & Managing Director at Harris &
Harris Group, Inc. The Nanomix Sensation(TM) detection platform has the
potential to enable greater access to valuable diagnostic information." As a
result of this financing, Dr. Leff will join the Nanomix Board of Directors.
"Nanomix has developed an exceptional detection platform that can be
applied to large market opportunities," said Guy Sella, Venture Partner with
STAR Ventures. "We are very impressed with the company's product pipeline,
experienced management team and market vision."
A team of O'Melveny & Myers attorneys led by partner Warren Lazarow
represented Nanomix in the financing.
Nanomix is a leading nanotechnology company launching a menu of devices
based on Sensation(TM) detection technology. These scaleable, nanoelectronic
devices use ultra-sensitive carbon nanotube sensing elements combined with
proprietary chemistries. These devices can be deployed across a broad range of
industrial and medical applications where the attributes of nanodetection
technology -- low power consumption, small form factor, and high sensitivity
offer significant performance advantages and enable unprecedented access to
critical information. Additional information is available at www.nano.com.
Harris & Harris Group, Inc. is a publicly-traded venture capital company
that now makes initial investments exclusively in tiny technology, including
nanotechnology, microsystems and microelectromechanical systems (MEMS). The
Company's last 22 initial private equity investments have been in tiny
technology-enabled companies. The Company has 17,248,845 common shares
outstanding. For more information please visit www.TinyTechVC.com.
STAR Ventures is an international venture capital firm that since its
inception in 1992 has been investing in private, emerging and later-stage
growth companies in the communications, software, semiconductor and life
science sectors. With offices in Munich, Germany, Herzliya, Israel and Dallas,
USA, and an experienced investment team, STAR has both the global reach and
the resources to enable successful growth of its portfolio companies. Star
manages close to US$ 1B, and has invested in over 170 portfolio companies. For
more information please visit www.star-ventures.com.
Alta Partners is a venture capital firm founded in 1996, currently
managing seven venture fund programs aggregating approximately $1.5 billion in
committed capital. Alta has funded over 130 life sciences and information
technology companies to date. The firm invests in both early and later stage
companies, through separate stage-specific funds. Alta Partners is a successor
to Burr, Egan, Deleage & Co., which was founded in 1979. For more information
please visit www.altapartners.com.
Apax Partners is one of the world's leading private equity investment
groups, operating across the United States, Europe and Israel. With more than
30 years of direct investing experience, Apax Partners' Funds provide
long-term equity financing to build and strengthen world-class companies. It
pursues a balanced equity portfolio strategy, investing in late venture,
growth capital and buyouts. Apax Partners' Funds invest in companies across
its 6 chosen global sectors of retail and consumer, IT, media,
telecommunications, healthcare and financial/business services. For more
information please visit www.apax.com.
Sevin Rosen Funds is a top-tier venture capital firm with a track record
of funding successful companies since 1981. The partnership has consistently
made early-stage investments in pioneering technologies and companies with the
potential to create new markets. The partners' broad range of venture and
operating experiences in successful technology companies translates into a
sustained commitment and contribution to the development of the ventures
funded. Compaq, Lotus, Cypress, Electronic Arts, SGI, Citrix and CIENA are
representative of some of the firm's successful IPOs. For more information
please visit www.sevinrosenfunds.com.
EnerTech Capital Partners is widely acknowledged as one of the leading
venture capital firms focused on energy technology, clean technology, and
other related technologies that have influenced the energy landscape. Since
EnerTech began investing in 1996, it has focused on companies offering
innovative solutions in areas such as alternative energy, distributed
generation, grid management, and emissions control. EnerTech has a deep
understanding of the energy value chain and helps create companies that
address the challenges of this complex industry. For more information please