SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Fluidigm Corporation, the leader in integrated fluidic circuits (IFCs) for life science, has raised $37 million from the issuance of Series E Preferred Stock and Series E convertible notes and note commitments, which represents the bulk of its Series E Financing goals. This closing includes a major public funds manager, leading small cap firm Wasatch Advisors, Inc. and its private equity affiliate, Cross Creek Capital, as well as existing investors.
“I am excited about this deal,” said Gajus Worthington, CEO at Fluidigm. “These are exactly the high quality investors you want holding your shares. Rarely do large public funds invest in a privately held company, unless due diligence shows significant future value.”
“We ranked Fluidigm as a superior investment in its sector, because of the strength of its management team, its IP portfolio, and advanced stage of commercialization,” said Jeff Cardon, Portfolio Manager for the Wasatch Small-Cap Growth Fund and President of Wasatch Advisors.
Fluidigm recently launched the BioMark™ system for real-time qPCR, which consists of instrumentation and specialized IFCs called dynamic arrays and digital arrays. IFCs have the potential to replace microwell plates in many applications because of their greater efficiency. Bioassays are assembled within a microscopic network of channels and valves, eliminating much of the liquid handling that characterizes the current microwell plate-based paradigm.
Fluidigm will use the capital to boost sales and marketing of its BioMark system and TOPAZ® system for protein crystallization and to develop new products in the pipeline.
This press release is neither an offer to sell nor a solicitation of an offer to buy any of the securities described herein. The Series E Preferred Stock sold or to be sold in the Series E Financing, and the Common Stock issuable upon conversion thereof, have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act or applicable state securities laws.
About Wasatch Advisors, Inc. & Cross Creek Capital
Wasatch Advisors, Inc. is a 30-year old investment adviser that is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. As of December 31, 2006, Wasatch Advisors managed approximately $9 billion in assets for pension and profit sharing plans, unions, foundations, endowments, individuals, trusts and investment companies registered under the Investment Company Act of 1940. Wasatch Advisors pursues a disciplined approach to investing, focused on bottom-up, fundamental analysis designed to develop a deep understanding of the investment potential of individual companies.
Wasatch Advisors’ private equity affiliate, Cross Creek Capital, is a venture capital fund exempt from SEC registration. Cross Creek Capital makes select, late-stage private equity investments in companies that meet its criteria of the best-of-breed public companies of the future. Cross Creek Capital is managed by an investment committee that consists of senior portfolio managers of the Wasatch Advisors research team. The investment committee may utilize other members of the Wasatch Advisors research team to evaluate and analyze potential Cross Creek Capital investments.
About Fluidigm
Fluidigm Corporation develops and distributes systems based on the unique properties of integrated fluidic circuits (IFCs) to precisely control fluids on a nanovolume scale. The Company’s vision is to create and to lead a new industry in which IFCs bring unparalleled efficiencies to the life science and allied fields. Based in South San Francisco, California, the Company is privately held and backed by premier investors: Versant Ventures, Euclid SR Partners, InterWest Partners, Alloy Ventures, Lehman Brothers Healthcare Fund, Bio*One Capital, Bruce Burrows, Lilly BioVentures, the Invus Group, SightLine Partners, AllianceBernstein, Wasatch Advisors and its affiliate, Cross Creek Capital, and GE Equity. Contacts
Fluidigm Corporation Jaime Bartels, Public Relations Manager, 650-266-6014 jaime.bartels@fluidigm.com At A Glance Fluidigm Corporation Source: via Business Wire Updated 11/11/2004 by company
