Cellomics, Inc. announces completion of new financing and balance sheet restructuring
Pittsburgh, PA – January 9, 2004 – Cellomics, Inc., the world’s first and leading producer of tools for High Content Screening (HCS) announced today a $5.3 million round of financing. The list of investors includes Carl Zeiss MicroImaging, Inc., Oxford Bioscience Partners, Vector Fund Management, InterWest Partners, Alta California Partners, Burrill Biotechnology, Axiom Venture Partners, and CK Capital.
In 2003, Cellomics collaborated with Carl Zeiss to design, engineer and manufacture the ArrayScan® VTI which was launched in the fourth quarter. Carl Zeiss MicroImaging, Inc. is also a distributor and service partner of Cellomics for the North American academic and biotechnology markets. The new Board of Directors consists of Jim Sharp, President of Carl Zeiss MicroImaging; Dan Calvo, President and CEO of Cellomics; D. Lansing Taylor, Founder and former Chairman and CEO of Cellomics; Norbert Gorny, Member of the Board of Management, Carl Zeiss Germany; Uli Simon, Executive VP & General Manager, Microscopy Group, Carl Zeiss Jena, Germany; Jonathan Fleming, Managing Partner-Oxford Bioscience Partners; and Barclay Phillips, Managing Director, Vector Fund Management.
“We are delighted to have the continued support of our core investors”, stated Dan Calvo, President and CEO of Cellomics. “ This financing round includes a restructuring of our balance sheet, resulting in a very healthy debt-to-equity ratio and provides necessary working capital to continue our commercial expansion. This financing, coupled with the completion of the company’s restructuring efforts, which began in early 2002, plus continued revenue growth, makes Cellomics a financially sound, operationally-oriented company, positioning us for profitability in 2004. Our relationship with Zeiss continues to add value to our performance as evidenced by the successful, on-time launch of the ArrayScan® VTI and expanded placements of our KineticScan® HCS Reader into key academic institutions.”
“Carl Zeiss is pleased to continue its commitment to Cellomics”, said Jim Sharp, Carl Zeiss MicroImaging, Inc. President and newly elected Chairman of the Board for Cellomics. “With the explosion of systems biology initiatives, Cellomics’ tools and capabilities in high-throughput cellular analysis constitute the only complete solution for this new wave of research. Together with Zeiss’ leadership in microscopy and imaging, the ongoing product portfolio development by the two companies will continue to be strengthened”
Cellomics, Inc. is pioneering the field of cellular knowledge extraction. Its unique technology integrates fluorescence-based reagents, cell lines, multi-parametric assays, HCS instrumentation (both fixed end-point and kinetic systems), and informatics tools to achieve a flexible, broadly applicable platform for users in the life sciences. This automated platform, when applied to early drug discovery is proving to reduce the 'idea-to-discovery' cycle time in drug discovery, while increasing the probability of the therapeutic success of leads as well as reducing the cycle time in basic research. Cellomics’ proprietary platform, including the ArrayScan® and KineticScan® HCS Readers, along with its vHCS™Discovery Toolbox software and automated analysis applications, are in use at multiple sites within all of the top fifteen pharmaceutical companies in the world, as well as leading pharmaceutical and biotechnology companies and academic centers globally.
Carl Zeiss is a leading international group of companies operating worldwide in the optical and opto-electronic industry. The company is headquartered in Oberkochen, Germany. The Carl Zeiss Group offers products and services for the three strategic growth areas of biosciences and health care, consumer goods and systems solutions for industrial markets. The group is structured as six business units that operate with sole responsibility and are generally ranked first or second in their markets. The company is represented in more than 30 countries and operates production facilities in Europe, North America, Mexico and Asia. In fiscal year 2002/2003 the global workforce of approximately 14,150 employees generated revenue of $ 2.5 billion. Further information is available at www.zeiss.com.
For further information, contact:
Judy P. Masucci, PhD Director, Marketing Cellomics, Inc. 100 Technology Drive Pittsburgh, PA 15219 412.770.2353 412.770.2450 (fax)
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Cellomics, Inc. announces completion of new financing and balance sheet restructuring
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