In 1994, the Company invested in its first small-tech company, Nanophase Technologies Corporation, a spinoff from Argonne National Laboratory, which subsequently completed an initial public offering in 1997. The Company sold its interest in Nanophase in 2001 and invested part of the proceeds of the sale in August, 2001, in privately held Nantero, Inc., a Harvard University spinoff developing advanced memory devices using carbon nanotubes. In February, 2002, the Company invested in privately held Nanopharma Corp., a research-based Massachusetts General Hospital spinoff founded to develop advanced drug delivery systems. On March 13, 2002, the Company also noted its investment in NEO Photonics Corporation, a privately held producer of novel materials compositions to enable a unique optical integration platform. In March, 2002, the Company also elected two new directors to its board, Dr. Kelly S. Kirkpatrick and Lori D. Pressman, whose professional backgrounds are particularly well suited to the Company's small-tech focus.
Harris & Harris Group is a Business Development Company with 8,864,231 common shares outstanding.
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