Liposcience Inc. Closes $13 Million In Series F Financing

RALEIGH, N.C., Aug. 15 /PRNewswire/ -- LipoScience, Inc. today announced the closing of its $13 million, Series F financing. Investors in the Series F round include Camden Partners, LLC; GE Capital Equity Investments; INVESCO Private Capital; Pappas Ventures; Sightline Partners; Three Arch Partners; and Varian, Inc.

"This represents a significant vote of confidence in the current and future value of LipoScience and its products. The fact that $7 million of the funding came from existing investors demonstrates a strong commitment to this company's vision and its prospects for the future," stated Charles A. Sanders, MD who serves as Chairman of the Board for LipoScience. "In addition, we are pleased to welcome Richard M. Johnston of Camden Partners, LLC as a new member to the Board of Directors. Dick's considerable experience in emerging healthcare companies makes him a strong addition to the team already in place."

"This is a tremendous achievement for LipoScience and we are pleased that leading investors continue to recognize the significant advances we have made over the past three years and our potential for the future," said Richard O. Brajer, president and chief executive officer of the Raleigh-based medical technology company. "This funding will allow us to confidently invest in the deployment of our in-vitro diagnostic system and to continue to drive growth and awareness for the NMR LipoProfile(R) test."

The NMR LipoProfile test is the only test that measures the number of LDL particles to accurately determine risk for heart disease, the number one killer in the United States. LDL is a particle that carries cholesterol. LDL particles cause atherosclerosis and the higher the number of particles, the greater the risk for coronary heart disease (CHD). Cholesterol alone is not a reliable predictor of the number of LDL particles and the risk for CHD. This was demonstrated in the landmark Framingham Heart Study which showed that 50% of people who had a heart attack had normal cholesterol levels.

Since LDL cholesterol is carried inside LDL particles it is helpful to think of cholesterol as a passenger and the particle as a vehicle. It is not the number of passengers that causes a traffic jam, but the number of vehicles. Similarly, it is not the amount of cholesterol that causes heart disease -- it is the number of LDL particles.

There is a growing body of evidence supporting the clinical utility of the NMR LipoProfile test. A recent book by National Cholesterol Education Panel (NCEP) members Patrick E. McBride, MD and James H. Stein, MD, Contemporary Diagnosis and Management in Preventive Cardiology, states that "it is the number of low density lipoprotein (LDL) particles that drives [CHD], not the cholesterol within them. The rationale for this test is based on data that lipoproteins are more directly related with atherosclerosis and more predictive of CHD events than standard lipid panels."

About LipoScience, Inc. Headquartered in Raleigh, N.C., LipoScience Inc. (www.liposcience.com) develops and markets new clinical applications of NMR spectroscopy in the areas of cardiovascular disease and metabolic disorders. The NMR LipoProfile test uses NMR spectroscopy to analyze blood plasma samples and provide detailed information concerning the number and size of the lipoprotein particles that carry cholesterol in the bloodstream. This information helps physicians identify and manage a patient's risk of cardiovascular disease that is often missed by a standard lipid panel. (www.lipoprofile.com) Founded in 1994, LipoScience markets and sells the NMR LipoProfile test to clinicians, commercial diagnostic laboratories and clinical research clients. For more information, please contact Michelle Turenne at 919-256-1306 or at mturenne@liposcience.com

LipoScience, Inc.

CONTACT: Michelle Turenne of LipoScience, Inc., +1-919-256-1306, ormturenne@liposcience.com

>>> Discuss This Story

Back to news