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
|SOURCE WaferGen Biosystems, Inc.|
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