Symmorphix Secures $13 Million in Venture Lease Financing

Developer of Amplification Components to Use Funds for Manufacturing Equipment

And Facilities Expansion



Apr 24, 2001, 01:00 ET from Symmorphix Inc

    SUNNYVALE, Calif., and SANTA ROSA, Calif., April 24 /PRNewswire
 Interactive News Release/ -- Symmorphix Inc., a developer of Amplifying Planar
 Integrated Components (APICs), today announced that it has secured
 approximately $13 million in venture equipment leasing. The new funds will be
 used to purchase manufacturing equipment and expand facilities for the
 company's revolutionary new family of distributed amplification components,
 which will improve optical network equipment performance and scalability.
     A syndicate of leading venture capital firms, led by Dominion Capital
 Management and including GATX Ventures and Third Coast Capital, will supply
 the new funds. "We're very pleased to be involved with Symmorphix," said
 Renee Baker, Dominion Ventures' Managing Director. "Very few new ventures
 combine such a highly-experienced management team with the key technical
 personnel required to address the requirements of this challenging and rapidly
 expanding market for innovative optical components."
     With this new source of funds Symmorphix will purchase manufacturing
 equipment and develop facilities. These funds will allow Symmorphix to devote
 its original equity to activities such as product development and marketing.
     "This funding will serve as a crucial complement to our venture capital,"
 noted Bob Conner, president and CEO of Symmorphix. "By enabling us to develop
 the facilities and obtain the equipment that we need, it will allow us to move
 rapidly accelerate significantly our product development and production
 plans."  Symmorphix initially received approximately $25 million from Battery
 Ventures and Crescendo Partners in its first round of venture capital
 financing last November.
     Based on a proprietary thin-film process, Symmorphix' new APICs will help
 carriers move quickly to all-optical networks as they strive to deliver a wide
 variety of broadband services to end-users. These low-cost, compact components
 will play a pivotal role in this transition by reducing signal loss while
 providing optical signal amplification in the many new types of optical
 equipment that will replace electronic systems. Used throughout the optical
 infrastructure, APICs will decrease the cost, size and improve the scalability
 of optical amplifiers.
 
     About the Investors
     Dominion Capital Management and its affiliate, Dominion Ventures, have
 invested more than $500 million in over 200 companies since 1985. The venture
 capital firm provides a variety of value-added resources to private companies
 in the information technology, communications, life sciences, healthcare and
 service industries.
     GATX Capital, a diversified financial services company located in
 San Francisco, provides funding to a range of businesses involved in
 information technology services, telecommunications, commercial aircraft, and
 railroad transportation. GATX Capital is a wholly-owned subsidiary of
 Chicago-based GATX Corp. (NYSE:   GMT). Based in Chicago, Third Coast Capital is
 a five-year-old venture-lending firm, which supplies asset-based financing to
 emerging growth companies.
 
     About Symmorphix
     Symmorphix was founded in October 1998 by a management team formerly with
 AKT, a wholly owned subsidiary of Applied Materials. The company's innovative
 process technology is the foundation of a new class of optical components
 -- Amplifying Planar Integrated Components (APICs) -- that can provide
 amplification wherever it is needed in an optical network. Symmorphix recently
 secured $25 million dollars in venture funding from Battery Ventures and
 Crescendo Partners, two leading investors in telecommunications infrastructure
 companies. The company has facilities in Sunnyvale and Santa Rosa, California.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X03898801
 
 

SOURCE Symmorphix Inc
    SUNNYVALE, Calif., and SANTA ROSA, Calif., April 24 /PRNewswire
 Interactive News Release/ -- Symmorphix Inc., a developer of Amplifying Planar
 Integrated Components (APICs), today announced that it has secured
 approximately $13 million in venture equipment leasing. The new funds will be
 used to purchase manufacturing equipment and expand facilities for the
 company's revolutionary new family of distributed amplification components,
 which will improve optical network equipment performance and scalability.
     A syndicate of leading venture capital firms, led by Dominion Capital
 Management and including GATX Ventures and Third Coast Capital, will supply
 the new funds. "We're very pleased to be involved with Symmorphix," said
 Renee Baker, Dominion Ventures' Managing Director. "Very few new ventures
 combine such a highly-experienced management team with the key technical
 personnel required to address the requirements of this challenging and rapidly
 expanding market for innovative optical components."
     With this new source of funds Symmorphix will purchase manufacturing
 equipment and develop facilities. These funds will allow Symmorphix to devote
 its original equity to activities such as product development and marketing.
     "This funding will serve as a crucial complement to our venture capital,"
 noted Bob Conner, president and CEO of Symmorphix. "By enabling us to develop
 the facilities and obtain the equipment that we need, it will allow us to move
 rapidly accelerate significantly our product development and production
 plans."  Symmorphix initially received approximately $25 million from Battery
 Ventures and Crescendo Partners in its first round of venture capital
 financing last November.
     Based on a proprietary thin-film process, Symmorphix' new APICs will help
 carriers move quickly to all-optical networks as they strive to deliver a wide
 variety of broadband services to end-users. These low-cost, compact components
 will play a pivotal role in this transition by reducing signal loss while
 providing optical signal amplification in the many new types of optical
 equipment that will replace electronic systems. Used throughout the optical
 infrastructure, APICs will decrease the cost, size and improve the scalability
 of optical amplifiers.
 
     About the Investors
     Dominion Capital Management and its affiliate, Dominion Ventures, have
 invested more than $500 million in over 200 companies since 1985. The venture
 capital firm provides a variety of value-added resources to private companies
 in the information technology, communications, life sciences, healthcare and
 service industries.
     GATX Capital, a diversified financial services company located in
 San Francisco, provides funding to a range of businesses involved in
 information technology services, telecommunications, commercial aircraft, and
 railroad transportation. GATX Capital is a wholly-owned subsidiary of
 Chicago-based GATX Corp. (NYSE:   GMT). Based in Chicago, Third Coast Capital is
 a five-year-old venture-lending firm, which supplies asset-based financing to
 emerging growth companies.
 
     About Symmorphix
     Symmorphix was founded in October 1998 by a management team formerly with
 AKT, a wholly owned subsidiary of Applied Materials. The company's innovative
 process technology is the foundation of a new class of optical components
 -- Amplifying Planar Integrated Components (APICs) -- that can provide
 amplification wherever it is needed in an optical network. Symmorphix recently
 secured $25 million dollars in venture funding from Battery Ventures and
 Crescendo Partners, two leading investors in telecommunications infrastructure
 companies. The company has facilities in Sunnyvale and Santa Rosa, California.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X03898801
 
 SOURCE  Symmorphix Inc