BOTHELL, Wash.--(BW HealthWire)--July 17, 2001--Prolinx®, Inc. announced today the closing of a $16.8 million preferred stock offering.
Prolinx will utilize the funds primarily for new product releases, including a protein microarray product line and a series of molecular interaction analysis systems for label-free detection in bioresearch and drug discovery. New investors participating in the financing included Stephens Group and Wheatley Partners. Existing investors Tullis-Dickerson, BA Venture Partners, Axiom Venture Partners, Technology Funding, Javelin Capital, MDS Ventures Pacific and Sofinnova Ventures also participated.
``Prolinx has historically focused on technology development and consequently has a significant technology portfolio,'' said Jim Mahoney, president and CEO of Prolinx. ``With the evolution of bioresearch and drug discovery towards the analysis of proteins and other complex systems, the demand for Prolinx technologies and products is increasing. This funding will allow us to accelerate the release of new products and to invest in the infrastructure required to market, sell and support these new products.''
Prolinx, founded in 1995, is a privately held biotechnology company located north of Seattle, Washington, USA. The company develops, manufactures, and markets tools, applications, and systems that advance developments in bioresearch and biotechnology. The company is commercializing a number of proprietary technologies including Versalinx(TM) Chemical Affinity Tools, a synthetic surface chemistry targeted at proteomics and genomics markets. The company is also developing instruments for label-free molecular interaction analysis based upon advances in surface plasmon resonance technology. The first instrument, the Octave(TM) Molecular Interaction Analysis System will be released in early 2002. Contact Prolinx at 425/487-3401 or at prolinxinc.com for further information. |
