BioNanomatrix secures $23.3 million in Series B financing - Small Times
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BioNanomatrix secures $23.3 million in Series B financing


March 23, 2011 - BUSINESS WIRE -- BioNanomatrix Inc., a developer of nanoscale, single-molecule imaging and analysis platforms designed to reduce the time and cost needed to analyze the genome, has closed a $23.3-million Series B round of equity financing.

Domain Associates, based in Princeton, NJ, and San Diego, CA, led the round, with new investor Gund Investment Corporation and existing investors Battelle Ventures, Innovation Valley Partners and KT Venture Group joining the round.

The company is moving toward commercialization of its nanoAnalyzer platform for whole genome analysis, said R. Erik Holmlin, newly elected president and chief executive officer of BioNanomatrix.

Holmlin noted that BioNanomatrix introduced the nanoAnalyzer 1000 System at the 2010 annual meeting of the American Society of Human Genetics last November and said that the company "has already placed a number of systems with early-access users." Learn more about nanotechnology for life sciences/biomedical applications here.

"BioNanomatrix has made impressive progress in developing and refining its platform technology and testing the nanoAnalyzer in collaboration with leading researchers in the genomics field," said Domain Associates Partner Brian K. Halak, PhD., who joins the company's Board of Directors.

"This capital infusion enables BioNanomatrix to establish a strong West Coast presence that will provide additional business opportunities and the ability to recruit from a talent base that has established this industry," Dr. Halak continued.

The nanoAnalyzer technology targets integration of genetic information in molecular diagnostics, personalized medicine and biomedical research.

BioNanomatrix is developing and commercializing technologies for analysis of large biological molecules, such as nucleic acids, which are vital to life science research, clinical diagnostic applications and development of new therapeutics. For more information, visit www.bionanomatrix.com.

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