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Caliper Technologies Raises $15 Million in Private Financing

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PALO ALTO, Calif.--Caliper Technologies here has announced that it has raised $15 million on the completion of its Series D private financing. This amount is in addition to the $5 million Caliper raised in February from a collaborative venture with Dow Chemical. It brings the company's total financing to $20 million.

Caliper calls itself a bioinformation technology company. The firm's proprietary LabChipx technology integrates microfabrication, electronics, software, biology, and chemistry. Among the applications of the company's microfluidic bioprocessor are ultra high-throughput experimentation for drug discovery and development, genomics, and biomedical research.

Participants in the financing included Caliper's current investors--Lombard Odier & Cie, State Farm Insurance, and Venrock Associates--joined by new investors Tredegar Investments and BB BioVentures, among others.

"I'm very pleased with the enthusiasm that Caliper has received from the investment community," commented David Lam, Caliper's president and CEO. "This financing places us in a strong position to continue our investments in technology and business development in order to take advantage of market opportunities in biomedical research, biopharmaceuticals and diagnostics."

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