NimbleGen Raises $12.5 Million in Series D Led by Schott

Date: 18 April 2003
Source: Genomeweb.com

Date: 18 April 2003

NimbleGen Systems of Madison, Wis., has raised an additional $12.5 million in a series D round of financing led by European technology giant Schott, the microarray company said today.

This brings the total amount that the company has raised to $32.5 million.Schott Nexterion of Mainz, Germany, which is Schott's new life sciences division, led the financing.ITX of Japan also participated, as did the company's existing venture capital and institutional investors: Skyline Ventures, Venture Investors, Baird Venture Partners, Tactics II Investments LLC, State of Wisconsin Investment Board, and The Wisconsin Alumni Research Foundation.

Schott, a $2 billion company that has expertise in manufacture of glass and fiber optics, has been a frequent if low-key exhibitor at recent microarray conferences, and company representatives have expressed an interest in collaborations with companies in the sector.

NimbleGen, founded in 2000, has developed technology that uses light-directed chemical synthesis to rapidly build oligo probes on high-density arrays: It boasts of being able to produce an array in a little as three hours.

"The NimbleGen business model fits closely with Schott's strategic plan for investing in innovative microarray technology platforms, said Dirk van den Broek, Schott Nexterion CEO, in a statement. "We are building on our well-established uncoated and coated flat glass products for DNA microarrays and investing in new products and unique microarray technologies."
600450 NimbleGen Raises $12.5 Million in Series D Led by Schott glassonweb.com

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