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Caliper Completes $7.4 Million Equity Financing

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PALO ALTO, Calif.--Caliper Technologies, manufacturer of laboratory-on-a-chip technology, raised an additional $7.4 million in equity financing to accelerate development of the company's proprietary LabChip technology platform for ultrahigh-throughput chemical and biochemical research and analysis. The company has raised over $40 million to advance the experimental platform. Investors this round included Lombard Odier, Genesis Merchant Group, and Hewlett-Packard. The company said the financing would allow it to expand applicability of the LabChip platform rapidly in the areas of ultrahigh-throughput drug development, genomics, proteomics, and clinical diagnostics. The LabChip integrates microscopic versions of biochemical pumps, valves, test tubes, reactors, extractors, and separation systems to manage complex laboratory processes on a microchip.

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