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World Leader in Bench-Top Flow Chemistry Instruments ThalesNano, Inc. Closes Funding Round
Date:9/8/2008

BUDAPEST, Hungary and LONDON and PRINCETON, New Jersey and SAN DIEGO, California, September 8 /PRNewswire/ --

- Investment to be Used to Accelerate R&D for Continuous Process Chemistry Technologies and for Further Global Expansion

ThalesNano Inc. announced today the closing of an investment of $3.3M by a group of private and financial investors. The new private investors are Dominic Gallello, CEO of Graphisoft and Dave Tapolczay, CEO of Medical Research Council Technology and former VP of GlaxoSmithKline, the second largest pharmaceutical company worldwide. The proceeds will be used to expand R&D to further strengthen ThalesNano's leadership position in the development and implementation of continuous process technologies from research to process development and full scale production. In addition, the company will expand commercial operations and services globally with particular emphasis on the US and Asia and increase production capacity based on the high demand for its technologies and instruments.

The benefits of continuous flow technologies over conventional batch chemistry include the rapid synthesis of organic compounds, in particular under until now unrealizable hazardous reaction conditions. Further benefits include Green Chemistry by minimizing waste, energy consumption and raw material use, lab automation, and rapid scale-up from mg to kg quantities, which reduces CAPEX and OPEX while speeding time to market.

Dr. Laszlo Urge, CEO of ThalesNano said; "We are glad that our new investors clearly see the value creation of our business. We have shown significant growth over the last year in the core business. In addition, strategic partnerships were created with major pharmaceutical companies including Sanofi-Aventis SA to implement continuous process technologies on a wider scale. As a result of our intensified R&D, we expect our customers to realize additional benefits in terms of reducing development time, increasing cost
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SOURCE ThalesNano Inc.
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