Chromagen Inc. announces equity investment by Japan Associated Finance Co.SAN DIEGO--(BUSINESS WIRE)--Oct. 28, 1996--Chromagen Inc. of San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. Monday announced that it has accepted an equity investment of an undisclosed amount from Japan Associated Finance Co. Ltd. (JAFCO), a worldwide venture capital and investment advisory firm with $2.6 billion under management. This investment completes Chromagen's Series A Preferred offering. The company plans to initiate a second preferred second preferred A class of preferred stock that has a subordinate claim to dividends and assets relative to another class of preferred stock of the same issuer. Compare prior preferred. offering before the end of the year. Chromagen is an emerging in-vitro diagnostics company with novel, patented signal detection and delivery technologies which represent major advances over existing nucleic acid nucleic acid, any of a group of organic substances found in the chromosomes of living cells and viruses that play a central role in the storage and replication of hereditary information and in the expression of this information through protein synthesis. and immunoassay Immunoassay An assay that quantifies antigen or antibody by immunochemical means. The antigen can be a relatively simple substance such as a drug, or a complex one such as a protein or a virus. systems. Chromagen's IMPACT technologies, which incorporate proprietary fluorescent compounds, novel solid phase extraction Solid-phase extraction (SPE) is a separation process that is used to extract compounds (called analytes) from a mixture of impurities. Analytical laboratories use solid phase extraction to concentrate and purify samples for analysis. chemistries, and ultrasensitive instrumentation offer, for the first time, the capability for simultaneous detection of multiple analytes in a single sample. In addition, the IMPACT technologies provide previously unattainable high sensitivity and specificity together with the capability to make the next generation of nucleic acid and immunoassay based diagnostic tests much faster, less expensive and more convenient. CONTACT: Chromagen Inc. Chris Hedrick, 619/558-1456 |
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