Navigation Links
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 is ideal for researchers seeking to confirm discoveries made with the growing use of next-generation sequencing.  In addition, the high throughput capabilities of the SmartChip System enable researchers to extend their research across large panels of genes, and hundreds of samples, at a very reasonable cost.

Combined with next-generation chemistry and optimized assays being developed by WaferGen under the guidance of David Gelfand, Ph.D., Chief Scientific Officer and one of the pioneers of PCR, the SmartChip System is designed to provide accurate, highly sensitive and high-throughput gene expression profiling capabilities to researchers, clinicians and pharmaceutical companies.

In addition, the company offers an innovative fee-based service for gene-expression profiling using the SmartChip System.  For additional information, please see http://www.wafergen.com.

Private Placement and Forward Looking Statements

The securities were issued to the investors under Regulation D of the Securities Act of 1933, as amended.  The securities offered in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from registration requirements.

This press release is not an offer to sell or the solicitation of an offer to buy the securities issued in the private placement or any other securities of the company.

This press release contains certain "forward-looking statements".  Such statements include statements relating to the financing, including the use of net proceeds from the transaction and the impact of the financing on the company's strategy, statements relating to the future effect of WaferGen's genomics instruments and consumables and expected throughput levels of the SmartChip Real-Time PCR System, and other statements relating to future events are not historical facts, including statements which may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words.

Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the company. Actual results may differ materially from the expectations contained in the forward-looking statements. Factors that may cause such differences include the risks that: (i) the company may be unsuccessful in commercially developing its products or in achieving market acceptance of new and relatively unproven technologies; (ii) the company may need to raise additional capital to meet its business requirements in the future and the company may not be able to do so on reasonable terms or at all; (iii) the company's proprietary intellectual property rights may not adequately protect its products and technologies; and (iv) the company expects intense competition in its target markets, including from companies that have much greater resources than the company, and there can be no assurance that the company will be able to compete effectively. More detailed information about the company and the risk factors that may affect the realization of forward-looking statements is set forth in the company's filings with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the year ended December 31, 2010 and the company's most recent Quarterly Report on Form 10-Q for the period ended March 31, 2011. Security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. The company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Contact:

WaferGen
510-651-4450

Don Huffman, CFO
don.huffman@wafergen.com

Media contact:
Joyce Strand
joyce.strand@wafergen.com

Investor contact:
Tim Ryan
tryan@shorehamgroupllc.com
212-242-7777


'/>"/>
SOURCE WaferGen Biosystems, Inc.
Copyright©2010 PR Newswire.
All rights reserved

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
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/24/2016)... Cirujanos holandeses han puesto en ... médicos a compartir sus mejores prácticas por el mundo ... médicos de Europa, África, Asia ... aplicación, que combina la transmisión en vivo con mensajería ... Educación   "Imagine un médico de Medicines ...
(Date:5/24/2016)... 24, 2016   , ... in overall bowel cleansing and superiority in ... leansing of the ascending ... , Norgine B.V. today announced new positive data from ... ascorbate bowel preparation) versus standard 2 litre PEG with ascorbate. The ...
(Date:5/24/2016)... -- ARANZ Medical  Ltd a specialist in ... been named the Coretex Hi-Tech Emerging Company of the Year ... Bruce Davey , CEO of ARANZ Medical says, "This ... to be recognised for the work we are doing to ... 35 countries around the world from Sub-Saharan Africa through to ...
Breaking Medicine Technology:
(Date:5/26/2016)... ... May 26, 2016 , ... Cabot Corporation, Pfizer, and ... according to court documents and SEC filings. A jury has returned a ... American Optical Corporation, Case No. BC588866, Los Angeles County, California. The jury awarded ...
(Date:5/26/2016)... (PRWEB) , ... May 26, 2016 , ... ... in intellectual property (IP) to its specialty academic programs. , Answering to the ... college’s existing certificate programs in health law, and environmental and land use law. ...
(Date:5/26/2016)... ... May 26, 2016 , ... On Memorial Day, Hope For Heroes ... in military battle for the country. The nonprofit Hope For Heroes partnered with ... that empower independence for disabled military veterans, as well as police, firemen, and EMS ...
(Date:5/26/2016)... ... 2016 , ... Cardiac arrhythmia is a common complication following ... survival, reports a team of UPMC researchers in the largest study of its ... Thoracic and Cardiovascular Surgery, provide critical information that will hopefully lead to better ...
(Date:5/26/2016)... , ... May 26, 2016 , ... MadgeTech will be ... engineered, and manufactured in Warner, New Hampshire at the MadgeTech headquarters. With products sold ... monitoring solutions trusted by government agencies, including NASA. , In 2012, NASA strategically ...
Breaking Medicine News(10 mins):