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QuantaLife, Inc. Closes $17.2M Series B Financing to Accelerate Application Development for Its Droplet Digital™ PCR Platform and Establish Commercial Operations by 2011
Date:12/10/2010

PLEASANTON, Calif., Dec. 10, 2010 /PRNewswire/ --

QuantaLife, Inc. announced today that it has closed a $17.2M Series B financing. The majority of the proceeds will be used to establish commercial operations for introduction of its first product, the Droplet Digital™ PCR platform, into the life sciences research market early next year and accelerate development of targeted diagnostic tests. Paladin Capital Group, together with other existing investors reiterated their strong support and was joined by Merieux Developpement and Vital Financial LLC, as new investors. According to Dr. Bill Colston, Founder and Chief Executive Officer of QuantaLife, "Droplet Digital PCR establishes a new standard for nucleic acid measurement, including the absolute quantification of DNA, RNA, and miRNA. It has a myriad of potential uses – in the research laboratory and in the clinic. With the completion of this financing, we have diversified our world-class investor base and are well positioned for a successful transition to commercialization.   We look forward to bringing a cost-effective and reliable product to the research community."

"QuantaLife's technology is very compelling and represents a unique opportunity to establish a new standard for the future of genomics research and nucleic acid testing, with a simple, reliable and cost-effective solution. We look forward to working with QuantaLife's management team and existing shareholders to help establish the company as a global leader in the emerging digital PCR market," said Francois Valencony, Managing Director of Merieux Developpement.

About QuantaLife, Inc.

QuantaLife has developed 3rd generation PCR technology that quantifies DNA molecules by Droplet Digital PCR. Droplet Digital PCR measures target nucleic acid target molecules with unrivaled absolut
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SOURCE QuantaLife, Inc.
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