BioNanomatrix to Commercialize NanoAnalyzer Platform with Series B Financing

Nanoscale technology developer for single-molecule analysis and imaging, BioNanomatrix announces that a $23.3 Million worth Series B equity financing round has been completed.

New and existing investors join the equity financing round, led by Domain Associates. Gund Investment is the new investor and existing investors of the company are KT Venture Group, Battelle Ventures, and Innovation Valley Partners.

R. Erik Holmlin, President and CEO of BioNanomatrix, states that the funding is secured at a critical time, as the company is progressing  towards commercializing the new genome analysis system, nanoAnalyzer. He also adds that the nanoAnalyzer 1000 System was  launched on November 2010 at the American Society of Human Genetics’ annual meeting.

The nanoAnalyzer platform is simple, affordable, and works efficiently. It reduces cost and time required for whole genome analysis. These benefits will make it feasible for wide range of applications such as research in biomedical, molecular diagnostics, and personalized medicine.

Dr. Brian K. Halak, who is joining BioNanomatrix’s Board of Directors, quotes that the company has made significant advance in developing and improving the nanoAnalyzer technology. The new financing supports the genomics company to establish its presence in West Coast, so that BioNanomatrix gains additional business opportunities.

Source: http://www.bionanomatrix.com/

Joel Scanlon

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Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

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