For the microarray industry, the first quarter of the financial year 2004 was one marked by an apparent easing of access to financial capital as companies such as Nanogen, Lynx, and Zyomyx took in some $49.5 million in new capital. Nanogen secured a private placement of $30 million (see BAN 3/10/2004), while Lynx completed two private placements of $4 million each. Meanwhile, on the private equity side, six-year-old protein-microarray developer Zyomyx closed on a $10 million sixth round of funding in February (see BAN 2/18/2004).

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