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Fluidigm Raises $34M in Private Financing Round

NEW YORK, Nov. 12 – Fluidigm of South San Francisco, Calif., said Monday it had raised $34 million in a round of private financing and has secured commitments for an additional $4 million.

The maker of microfluidics technologies for use on biochips said that it would use the money it raised in the series C financing round to further develop and market its microfluidic pump and valve technology.

Fluidigm has developed a flexible rubber chip with built-in microfluidics circuits. Pumps and valves move small quantities of fluid through channels that are smaller in diameter than a human hair.

Lehman Brothers led the round, while Euclid SR, US Bancorp Piper Jaffray, GE Equity, Versant Ventures, and InterWest Partners, also participated in the round. Versant and InterWest previously invested in the company.

Fluidigm, which has raised a total of $50 milllion in private funds to date, currently employs 70 people and has offices in California and Colorado.

Revenues from biochips are expected to total $1.2 billion in 2004, Fluidigm said citing a UBS Warburg report.

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