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Firefly BioWorks, Inc. Announces the Closing of a $2 Million Financing for Expanded Commercial Development


10/24/2011 7:34:07 AM

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Firefly BioWorks, Inc., a developer of instrument-independent multiplexed assays, announced today the closing of a $2M private placement offering. Proceeds from this financing will be used to execute the company's commercial strategy, by launching an early access program with leading academic and industrial partners.

"We are very pleased that our offering was so well received and thrilled by the caliber of our investors, many of whom are industry veterans. We are now eager to see our first products in the hands of real users and will treasure their feedback," said Dr. Davide Marini, Firefly co-founder and CEO. "We are extremely happy with the progress we have made in developing assays that can be run on standard cytometers," said Dr. Daniel Pregibon, Firefly co-founder and inventor of Optical Liquid Stamping, the company's core technology. "We now look forward to field testing and refining our products." Firefly is currently inviting scientists to participate in an Early Access Program to help test its products and refine its target applications. Qualified participants will receive Firefly kits free of charge, in exchange for their feedback on robustness, performance and ease of use.

About Firefly BioWorks

Firefly BioWorks, Inc. (Cambridge, MA) is introducing an open platform allowing industrial, academic and clinical scientists to develop and use multiplexed biological assays on standard laboratory instrumentation. The company's core technology, Optical Liquid Stamping, was developed in the Chemical Engineering Department at MIT by Firefly co-founders. The method allows rapid and scalable synthesis of encoded, multi-functional particles for the quantification of biological function. The company's long-term vision is to provide research and clinical scientists with reliable and affordable solutions for the comprehensive monitoring of biological systems.

Contact:

Firefly BioWorks, Inc.Davide Marini, 617-500-6247



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