SOURCE: Bar Harbor BioTechnology Inc.

September 05, 2007 07:00 ET

Bar Harbor BioTechnology Inc. Completes Series A Financing for Product Launch

TRENTON, ME--(Marketwire - September 5, 2007) - Bar Harbor BioTechnology Inc. has completed a multimillion dollar Series A financing in time to fund its first product launch scheduled for October 1st, 2007. The company develops new products for scientists to perform gene expression experiments using real-time quantitative polymerase chain reactions, or qPCR.

The Series A round was led by Borealis Ventures, with Phil Ferneau the managing partner, and joined by Village Ventures. Ferneau declined to comment on exactly how much money the firms provided in the financing round, but said, "This funding will take their first product to market and fund the development of their next-generation products."

"This funding is very significant for Bar Harbor BioTechnology," said Aaron Brown, Director of Bioinformatics, "allowing our products to reach the laboratories of scientists that are discovering cures for diseases like cancer, diabetes, obesity, lupus, multiple sclerosis, and rheumatoid arthritis." Focusing on a suite of products that include Bioanalysis software, qPCR arrays, and Bioinformatics applications, the company will be able to assist scientists with the preparation, execution, and analysis of gene expression experiments.

Bar Harbor BioTechnology was launched in August of 2006 as a spin-off company from The Jackson Laboratory based in Bar Harbor, Maine.

For more information, please contact Robert Phelps at: rphelps@bhbio.com

http://www.bhbio.com/

© 2007 Bar Harbor BioTechnology. All rights reserved.

Bar Harbor BioTechnology undertakes no obligation to release publicly the results of any revisions to any forward-looking statement made or implied in this release, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Statements in this release should be evaluated accordingly.

Contact Information

  • Contact:
    Robert Phelps
    Bar Harbor BioTechnology
    18 River Field Road
    Trenton, ME 04605
    207-667-7900 Ext. 10