NEW YORK, Jan 17 – X-ray systems provider Bruker AXS said Wednesday it had raised $22.5 million in a private round of financing.
Bruker AXS said it would allocate a portion of the money towards developing and selling its X-ray systems to structural proteomics companies as an alternative to current crystallography technologies.
" We are presently rolling out proprietary X-ray systems which leapfrog conventional biological crystallography systems in terms of speed and sensitivity,” Martin Haase, president and CEO of Bruker AXS, said in a statement.
“We intend to leverage these technological breakthroughs and first-class customer support with the goal to become the preferred supplier of X-ray solutions for biological crystallography,” he added.
Thomas Weisel Capital Partners led the investment round. Burrill & Company and Other Essex Investment Management also invested in the round.
Bruker AXS of Madison, Wisconsin develops life science and advanced materials research tools based on X-ray technology. The companies revenues exceeded $65 million in 2000.