SOURCE: Amnis Corporation

August 29, 2005 08:00 ET

Amnis Corporation Closes Initial $3 Million of Series C Financing Round

Funding Complements Sales Revenues and Federal Contracts to Accelerate Commercial Development

SEATTLE, WA -- (MARKET WIRE) -- August 29, 2005 -- Amnis Corporation, a manufacturer of advanced instrumentation for the life science research and diagnostics markets, announced today the initial closing of a $6 million Series C financing round, bringing in over $3 million in capital. Participants in the round include a consortium of a dozen new private investors as well as Amnis' existing investors. The Company will use the proceeds from this financing round to expand commercial operations and accelerate key clinical application and product development programs already in progress.

"This round of funding puts us in an excellent position to achieve profitability," said David Basiji, Ph.D., Amnis' President and CEO. "Our burn rate is modest, our people are energized, and our products are a true breakthrough for the life sciences and clinical diagnostics markets. With this money, we'll establish the ImageStream® 100 product, develop our second-generation products, and demonstrate feasibility for multiple clinical applications."

"Given the technical sophistication of our ImageStream® 100 and the variety of breakthrough applications we're developing for the research and clinical markets, Amnis has accomplished a tremendous amount with only $19 million raised to date," remarked William Ortyn, Amnis' COO. "As we move forward with our R&D and Applications Development programs and build out our production and customer service groups, we will continue to evolve our strategic plan and operate with a very lean organization."

"Sales of the ImageStream 100 are strong and our existing customer base is very enthusiastic about the product," notes Guy Page, Ph.D., Director of Marketing. "We are very excited about product enhancements and applications currently in development which will provide more value to our customers. This new infusion of funds will help bring our message to much wider audience."

Amnis CEO Basiji also states, "We are very fortunate to have attracted a group of investors who see the long-term value in development of fundamental technologies like the ImageStream System. After several years of intense development, it is extremely satisfying to deliver our ImageStream 100 product to our customers and bring clarity to the complex biological problems they're trying to understand. As sales grow in the next year, we look forward to seeing the expanding base of scientific discoveries made possible by our breakthrough technology."

Amnis Corporation, headquartered in Seattle, WA, develops, manufactures and markets instrumentation for high speed imaging of cells in flow. Its flagship product, the ImageStream® 100 Cell Analysis System, generates high resolution imagery -- including brightfield, darkfield and up to four fluorescent images -- for tens of thousands of cells in just minutes. The IDEAS® image analysis package, an integral part of the ImageStream system, provides sophisticated yet easy to use software tools that enable or enhance applications in hematology, immunology, oncology and many areas of basic research.

Contact Information

  • Contact:
    David Basiji, Ph.D.
    President and CEO
    Amnis Corporation
    206-374-7000