Caliper Technologies Raises $7.4 Million in Financing to Accelerate Core Technology Development.PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--June 22, 1998--Caliper Technologies Corp. announced that it has raised an additional $7.4 million in equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. to accelerate development of the company's proprietary LabChip(TM) technology platform for ultra-high throughput chemical and biochemical research and analysis. Caliper's LabChip platform functions like a "liquid integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for ," miniaturizing and integrating complex laboratory processes on a microchip. Caliper caliper Instrument that consists of two adjustable legs or jaws for measuring the dimensions of material parts. Spring calipers have an adjusting screw and nut; firm-joint calipers use friction at the joint to hold the legs unmoving. has raised in excess of $40 million in equity financing to advance its proprietary LabChip experimental platform. The investors in this round included many of Caliper's current investors and partners including Lombard Odier, Genesis Merchant Group and Hewlett-Packard. "The strong support from our financial investors and corporate partners reflects Caliper's dramatic progress to date in advancing our LabChip technology platform" said Calvin Chow, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Caliper. "This financing allows us to rapidly expand applicability of the LabChip platform in the areas of ultra high throughput drug development, genomics and proteomics and clinical diagnostics." Chow added that this investment fortifies Caliper's position as the dominant laboratory-on-a-chip company with over 75 scientists developing LabChip platform technologies. Caliper's LabChip integrates microscopic versions of biochemical pumps, valves, test tubes, reactors, extractors and separation systems to manage complex laboratory processes on a microchip. Data derived from Caliper's chips is in digital form, which can be stored in a database, accessed via networks and shared by researchers. Caliper is commercializing its proprietary LabChip products through corporate partners. The company currently has strategic relationships with Dow Chemical, Hewlett-Packard and Hoffman-La Roche. The Company also works closely in developing new applications for its LabChip technologies with leading academic groups at Harvard University Harvard University, mainly at Cambridge, Mass., including Harvard College, the oldest American college. Harvard College Harvard College, originally for men, was founded in 1636 with a grant from the General Court of the Massachusetts Bay Colony. , University of Pennsylvania (body, education) University of Pennsylvania - The home of ENIAC and Machiavelli. http://upenn.edu/. Address: Philadelphia, PA, USA. , Northeastern University Northeastern University, at Boston, Mass.; coeducational; founded 1898 as a program within the Boston YMCA, inc. 1916, university status 1922, fully independent of the YMCA 1948. , Princeton University Princeton University, at Princeton, N.J.; coeducational; chartered 1746, opened 1747, rechartered 1748, called the College of New Jersey until 1896. Schools and Research Facilities and Oak Ridge National Laboratories. About Caliper Technologies Corp. Caliper Technologies Corp. is a bioinformation company applying its proprietary LabChip expertise to the development of leading edge products, services and information. With its laboratory-on-a-chip technology, Caliper's LabChips dramatically expand access to chemical and biochemical data. Caliper focuses on research and development in the core areas of microfluidics microfabrication, and microscale chemical, biochemical, and biological assays, enabling its LabChip platform to support a range of products and applications in drug discovery, bioanalytical research and medical diagnostics. It is commercializing these advances through value-added strategic relationships with corporate partners. Information about Caliper's products and services can be found on the World Wide Web at http://www.calipertech.com. -0- Note to Editors: LabChip is a registered trademark of Caliper Technologies Corp. of Palo Alto, Calif.
CONTACT: Caliper Technologies Corp.
Michael R. Knapp, Ph.D., 650/824-0700
http://www.calipertech.com
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