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SI: StockTalk: Miscellaneous (Technology) : "NanoTechnology"
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To:James Reiher who started this subject
From: nigel bates Thursday, Apr 24, 2003 10:36 AM
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Nanosys Raises $30 Million in First Closing of Second Round
PALO ALTO, Calif., April 24 /PRNewswire/ -- Nanosys, Inc., the leader in nanotechnology-enabled systems, today announced the first closing of $30 Million in a second round of financing. All of the six top-tier venture investors that participated in the last financing round -- ARCH Venture Partners, CW Group, Polaris Venture Partners, Venrock Associates, Prospect Venture Partners and Alexandria Real Estate Equities -- participated in this first closing of Nanosys' second round. They are joined by equally high-caliber new investors including CDIB BioScience Ventures (CBV), Chiao Tung Bank, China Development Industrial Bank (CDIB), Harris & Harris, Lux Capital, Quanta Computer and SAIC Venture Capital Corporation.
Even in this challenging funding environment, Nanosys generated a high-level of interest among top-tier investors. "We will hold the round open for a second closing due to exceptionally strong interest from high quality investors," commented Nanosys President and CEO, Larry Bock. "The new investment will significantly enhance Nanosys' development and marketing efforts for its portfolio of pioneering nanotechnology-enabled products in chemical and biological sensing, photovoltaic and high-performance macroelectronics. We are extremely pleased by the quality and statue of our new investors. Having CDIB BioScience Ventures leads this closing and having top nanotechnology-focused funds like Harris & Harris and Lux Capital as well as corporate strategic investors is a validation of our leadership position in the nanotechnology space."
"It is clear to us that Nanosys is one of the most advanced true nanotechnology companies in the market today and we are very pleased to lead this closing," commented Dr. Tai-Sen Soong of CDIB Bioscience Ventures, a prominent bioscience fund with strong presence in both United States and Asia. "Nanosys has built a world-class IP portfolio of the most promising nanotechnologies, formed strong partnership with leading academic institutions and corporations, and built a management team that has successfully launched leading platform technologies in the past. These are all factors that will contribute to Nanosys' success in converting the promises of nanotechnology into reality, in the life science sector and beyond. By leveraging on our Asian network, we look forward to working with Nanosys in accelerating the commercialization of its platform technology."
Charles Harris, CEO of Harris & Harris Group, shares the enthusiasm: "Harris & Harris Group invests exclusively in 'tiny technologies'. We believe that there is enormous commercial potential in these enabling technologies and specifically, in exploring unique properties realized at the nanoscale. We identify Nanosys as a clear-cut leader in commercializing nanotechnologies based on the exclusivity and breadth of its IP, the excellence of its team, and the quality of its platform of nanotechnology-enabled systems."
Josh Wolfe, managing partner at Lux Capital, is equally upbeat: "We are extremely pleased to join other top-tier investors in this financing round. Nanosys has cornered the market for patents in inorganic nanomaterials and has built a tremendous framework to target a host of large and growing markets. Its multidisciplinary scientists, experienced management team and advisory boards have the track record to execute and are of the highest quality in the emerging nanotechnology sector."
Kevin Werner, president and managing director of SAIC Venture Corporation, commented on its first investment in nanotechnology field: " SAIC Venture Corporation makes investments in early-stage, high potential companies to promote leading edge technologies and to develop strategic alliances for SAIC, the largest research and engineering company in the US. Nanosys is one of the leading nanotechnology companies in the market today, its core technologies in the rational design and flexible assembly of inorganic semiconductor nanomodules have near-term high-value commercialization potential as well as impact on many fields of SAIC's long-term interest. This investment can strengthen the SAIC and Nanosys relationship and create win-win situations for both companies."
About Nanosys
Nanosys, Inc, is a rapidly growing advanced technology company, leading the burgeoning nanotechnology industry, through the development of nano-enabled systems. These systems incorporate novel and patent-protected nanostructures that integrate functional complexity directly into each individual nanoparticle, enabling the low-cost fabrication of revolutionary high-value, high-performance applications in a broad range of industries from life and physical sciences to information technology and communications to renewable energy and defense. These nanostructures include nanowires, nanorods, nanotetrapods and nanodots formed from all of the industrially important semiconductor materials (Group II-VI, III-V and IV) as their principal active elements. These systems exploit the fundamentally new and unique electronic, optical, magnetic, interface and integration properties associated with materials on the nanometer-scale. The initial applications include exquisitely sensitive chemical and biological sensors, high performance large area macroelectronics and lightweight high efficiency conformal photovoltaics.
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