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Fluidigm Raises $21 Million From Top International Investors
01/06/2004
South San Francisco, CA - Fluidigm Corporation today announced a $21 million
financing led by EDB Investments Pte Ltd (EDBI), the wholly-owned investment arm
of the Singapore Economic Development Board, and New-York-based Invus, LP. The
round also received strong insider support. The funds will be used primarily to
expand international sales, marketing and support to meet growing demand for
Fluidigm's Topaz product line.
"This deal lays the foundation for another outstanding year," said Fluidigm
CEO and Co-founder, Gajus Worthington. "We are delighted by the demand we have
experienced, both from customers and investors, and are energized by an
up-valuation in this particularly discriminating market."
Fluidigm's integrated fluidic circuit (IFC) technology is an integral
component of the Topaz Crystallizer, which is used in drug discovery research.
Top pharmaceutical, biotechnology, and academic institutions around the world
are adopting the system to take advantage of greater efficiencies in determining
protein structures. "With the mounting success of its first system, Fluidigm has
demonstrated its ability to parlay proprietary technology into product
leadership," according to Sacha Lainovic, Executive Vice President at the Invus
Group, LLC.
"We believe Fluidigm is a top tier company," according to Ms. Chu Swee Yeok,
Executive Director of the BioMedical Sciences Investment Fund managed under
EDBI. "We are excited that new funding will allow them to expand their
operations overseas and compete in the global marketplace."
About EDBI (www.edbi.com)
The BioMedical Sciences Investment Fund (BMSIF) is managed by EDB Investments
Pte Ltd (EDBI), the wholly-owned investment arm of the Singapore Economic
Development Board (EDB), the lead government agency addressing the strategic
development of Singapore's human, intellectual, and industrial capital for
biomedical sciences. The BMSIF aims to enhance the level of Biomedical Sciences
economic activities in Singapore, as well as to generate long-term capital gains
for the funds. EDBI manages funds in excess of US$3 billion and is among the
pioneers of Singapore's Venture Capital investors, with 15 years VC investment
experience. EDBI and its subsidiary venture capital and specialty funds have
invested in about 200 projects covering wide range of businesses inside and
outside Singapore.
About The Invus Group, LLC
The Invus Group, LLC is a New York-based, 18-year old private investment firm
with over $3 billion under management. Since 1985, as Artal Luxembourg S.A.'s
exclusive investment advisor, Invus has financed more than 60 companies. Invus
originates, structures and acts as a lead equity investor in a variety of
private equity transactions, including leveraged buy-outs, expansion financing
and venture capital.
About Fluidigm
Fluidigm Corporation develops and manufactures complete systems, enabled by
the integrated fluidic circuit, that revolutionize life-science research.
Fluidigm's initial customer base is in the drug discovery and life sciences
arena; initial products address the challenges of protein structure
determination. Based in South San Francisco, California, Fluidigm is privately
held and backed by premier investors, including Versant Ventures, Euclid SR
Partners, InterWest Partners, Lehman Brothers Healthcare Fund, Bruce Burrows,
the Singapore EDB, Lilly BioVentures, the Invus Group, GE Equity, and Piper
Jaffray Ventures. |
