Primera Biosystems Raises $11 Million in Series A Private Round

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Primera Biosystems, Inc., a developer of novel gene expression analysis systems and assays that can be used broadly from basic research through clinical diagnostics, announced that it closed an $11 million placement of Series A Preferred Stock to a group of investors including MPM Capital, Burrill and Company, and the Malaysian Technology Development Corporation (MTDC). The financing will enable Primera to develop both instrument systems and disease specific diagnostic reagent kits for commercialization.
"The Series A Financing reflects the excitement and commitment by our investors to further develop our platform. We believe the quality of the data produced by our technology, coupled with its cost-effectiveness, will provide numerous commercial opportunities that will have significant benefit for researchers, health care practitioners, and patients," said Kazumi Shiosaki, Ph.D., President and Chief Executive Officer of Primera Biosystems, Inc.
Primera is developing a proprietary gene expression analysis system, "STAR" (Scalable Transcription Analysis Routine) that combines into a single system the desirable features of both real-time PCR and DNA microarray technologies. By increasing the throughput and lowering costs while maintaining accuracy and quantification, the STAR platform has the potential to become the premier gene expression analysis platform for use in research, clinical development and diagnostics. Primera has applied for a number of patents that include claims for the core process, diagnostic applications, key reagents and instrumentation. The STAR technology was invented by Vladimir Slepnev, Ph.D., Primera's Vice President of Research & Development. Additional details associated with the technology can be found at www.primerabio.com.
In addition to Dr. Shiosaki, the Primera Board of Directors will consist of Ken Conway, Starfire Ventures; Todd Foley, MPM Capital; Ann Hanham, Burrill and Company; Rashidan Shah, MTDC; and Dr. Mary Jane Cardosa, University of Malaysia, Sarawak.