One to watch out for -
Wednesday June 6 Cytomation Closes Private Placement
Fort Collins, Colorado - Global bioinstrumentation and software leader Cytomation Inc.
today announces the closing of a private placement bringing in more than US Dollars 14 million of new capital from a series of undisclosed US and international investors.
The only bioinstrumentation company to make the 2000 Inc.
500 list of fastest-growing private US companies, Cytomation has reported five years of consistent revenue growth, topping dlrs 20 million in 2000.
The new investors will hold a minority interest in the company, which has seen tremendous growth in recent years, doubling its sales and service staff in the past three quarters alone.
In addition to the US headquarters and manufacturing facility, Cytomation has sales and service offices in Germany and Australia, employing 132 people world-wide.
"The new investment capital will enable us to pursue a number of exciting strategic initiatives as we continue to expand our business of providing enabling technologies for life sciences research," said Cytomation President and Chief Executive Officer Nigel Ferrey.
Founded in 1988, Cytomation designs and manufactures high performance MoFlo(R) Cytometers and Ultra-High-Speed Cell Sorters, which use state-of-the- art laser optics, fluidics, electronics and robotics to analyse, separate and collect tens of thousands of cells per second.
Originally developed to sort chromosomes for the Human Genome Project, Cytomation's instruments are now in use at 200-plus sites in the United States, Canada, Europe, Japan, Australia and Argentina for drug discovery, cancer and HIV research, stem cell and gene therapy, livestock sex selection, and DNA diagnostics.
Cytomation's blue chip customers include research institutions such as Aaron Diamond AIDS Research Center, Basel Institute for Immunology, Dana- Farber Cancer Research Institute, Johns Hopkins University and Massachusetts Institute of Technology.
Cytomation's technology also continues to attract increasing attention from premier biopharma customers such as AstraZeneca (LSE: AZN.L - news) , Aventis, Bristol-Myers Squibb, Diversa, Eli Lilly, Immunex, Janssen Pharmaceutica, Maxygen, Novartis, Pfizer and Takara Shuzo, and the company has ongoing collaborations with companies including Cytopeia, Rigel Pharmaceuticals and Gene Check.
"Cytomation's platform technologies address several unmet market needs, targeting important applications in the life sciences," said Carl Byrnes, Principal and Equity Research Analyst with Dain Rauscher Wessels, which facilitated the transaction.
"I believe its prospects are uniquely compelling and that the company will emerge as a leading provider of innovative enabling technologies over the next five years." Web site: cytomation.com UNS Contact: Sonja Bisbee Wulff of Cytomation, Inc., +1-970-226-2200, sonjaw@cytomation.com |
