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Primera Biosystems Raises $21 Million in Series B Private Round
Date:1/8/2008

MANSFIELD, Massachusetts, January 8 /PRNewswire/ -- Primera Biosystems, Inc., an emerging molecular diagnostics company with assay programs in infectious disease and oncology, announced today that it has closed on $21 million of Series B financing led by Abingworth and joined by Interwest Partners. Existing investors Malaysian Technology Development Corporation (MTDC), MPM Capital, Burrill & Company and the Invus Group also participated in the round.

"Primera plans to use this financing to complete development of our instrument system, reagent kits for disease-specific clinical research, future diagnostic tests as well as support ongoing research and development efforts," said Martin L. Verhoef, President and Chief Executive Officer of Primera Biosystems, Inc. "With help from our new and existing investors, we will stay ahead of the field by developing molecular diagnostics that have significant impact on patient management and deliver real benefits for doctors, patients and payers."

Primera is developing a proprietary nucleic acid analysis system, "STAR" (Scalable Target Amplification Routine), that combines in a single bench-top system the best features of quantitative real-time PCR with - true multiplexing of 60 or more targets. By increasing throughput and lowering costs -- while maintaining accuracy and quantification -- the STAR system has the potential to become the premier next generation real-time PCR platform for use in clinical development and diagnostics. The technology was invented by Vladimir Slepnev Ph.D., Primera's Chief Scientific Officer and co-founder. The technology can be applied for gene expression, DNA/RNA analysis, micro RNA analysis, mutation analysis and methylated DNA analysis. The Company's first test leveraging STAR is ViraQuant(TM), a market-ready assay for the simultaneous quantitative measurement of multiple viral agents that cause infections in immune compromised patients. A multiplex fungal test will follow. The
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SOURCE Primera Biosystems, Inc.
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