Nanomix Secures $16 Million Series C Financing

Supporting Commercialization of Sensation TM Detection Technology

Mar 07, 2005, 00:00 ET from Nanomix

    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.
     About Nanomix:
     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
     About Investors:
     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
     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
     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
     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
     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
     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

SOURCE Nanomix