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WaferGen Closes $30 Million Financing with Three Leading Life Science Institutional Investors
Date:5/31/2011

FREMONT, Calif., May 31, 2011 /PRNewswire/ -- WaferGen Biosystems, Inc. (OTCBB: WGBS), a leading developer of state-of-the-art genomic analysis systems, today announced it has closed its previously announced private placement financing of equity and debt with three leading institutional life science investors, Great Point Partners, LLC, Deerfield Management and Merlin Nexus, and certain members of the Board and management.  The final transaction size was $30.6 million.

Net proceeds from this financing will be used for expanding the commercialization capabilities of the company to market the SmartChip Real-Time PCR system and related products, and for working capital and general corporate purposes.

"This financing will enable us to implement our current and long term strategy of expanding the company by building our customer base, launching new product offerings to meet customer needs, and adding distribution channels to penetrate our high-growth segment of the $10 billion genomics market. We believe that our game-changing, high-throughput, nano-scale genomics instruments and consumables will revolutionize disease research, improve drug development efficiency, enable personalized medicine, and impact health care economics," said Alnoor Shivji, chairman and CEO.  

Oppenheimer & Co. Inc. acted as lead placement agent for the financing with Madison Williams and Company and Summer Street Research Partners as co-placement agents.

About WaferGen and the SmartChip Real-Time PCR System

WaferGen Biosystems, Inc. is a leader in the development, manufacture and sale of state-of-the-art systems for genomic analysis for the life science and pharmaceutical industries. The company currently offers the breakthrough SmartChip Real-Time PCR System, the next-generation Real-Time PCR system for discovery and validation of biomarkers, or gene expression patterns, on a single platform. WaferGen believes that the SmartChip System i
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SOURCE WaferGen Biosystems, Inc.
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Related medicine technology :

1. WaferGen Announces Data Presentations From Newly Launched High-Throughput SmartChip Human microRNA Panel V2 at Scientific Conferences, Including AACR
2. WaferGen Launches High-Throughput SmartChip Human MicroRNA Panel V2
3. WaferGen Reports Fourth Quarter and Full Year 2010 Financial Results
4. WaferGen Appoints Industry Leader Dr. Timothy J. Triche to Board of Directors
5. WaferGen to Present at 13th Annual BIO CEO and Investor Conference
6. WaferGen Appoints World-Renowned Clinical Genomics Cancer Researcher Dr. Arul M. Chinnaiyan to Scientific Advisory Board
7. WaferGen to Present at OneMedForum San Francisco 2011
8. WaferGen and Integrated BioBank of Luxembourg (IBBL) Sign Strategic Agreement for Molecular Diagnostic Research Collaboration and Purchase of SmartChip System
9. WaferGen Announces $7 Million Capital Raise -- $5 Million Equity Private Placement Agreement Signed, and $2 Million Credit Facility Closed
10. WaferGen Reports Second Quarter 2010 Financial Results
11. WaferGen to Introduce New Service for Gene-Expression Profiling Using the SmartChip(TM) Real-Time PCR System
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