SOURCE: Keiretsu Forum

March 29, 2007 09:30 ET

Keiretsu Forum's US-China Bridge Supports Portfolio Company

Keiretsu Forum Portfolio Company, Diamics, Raised $5 Million in Angel Funding, as Well as Signing $22 M Contract With Chinese Hospital Group

SAN FRANCISCO, CA -- (MARKET WIRE) -- March 29, 2007 -- Keiretsu Forum, the nation's largest investment community of private equity (angel) investors, today announced its members' investment in Diamics Inc., a privately owned medical device and diagnostics company located in San Francisco that recently struck an unprecedented $22 million contract with the Bejing Jingmin Hospital Group in China. Last week, Diamics received 510(k) clearance from the U.S. Food and Drug Administration to market its CerCol Cervical Collector, which is used to collect cervical cytology material for Pap analysis.

At the January meeting of Keiretsu Forum's Beijing chapter, Diamics, which specializes in cost effective cancer screening and diagnostics systems, presented to an audience of Chinese investors and business people. "This is the first of what we expect to be an increasing flow of companies between our Beijing and Bay Area chapters," said Keiretsu Founder and CEO Randy Williams.

"This funding from the Keiretsu Forum was huge," said Diamics President Christine Meda. "We never would have been able to complete the work on the CerCol collector and Pap-Map without it. Keiretsu has been a very good business consultant for Diamics and has given us great visibility both locally and in China. We met Dr. James Shi, the head of the Beijing Jingmin Hospital Group, through the Keiretsu Forum Beijing meeting. The Beijing Jingmin Hospital Group will use the Pap-Map and C-Map system when approved and subsequently help distribute it to clinics across China."

Keiretsu Forum made its investment in Diamics due to the dynamic track record of its founder and CEO, Peter Gombrich, who has over 30 years of experience and success in the medical device industry. "Our objective is to find ways to support all of the CEOs of the companies that our members invest in, and Diamics will hopefully use this important Chinese opportunity to substantially accelerate their growth," said Matthew Le Merle, San Francisco Co-President.

Keiretsu Forum provides a structured approach to private equity investments, allowing like-minded business leaders to work together in assessing investment opportunities and then make individual investment decisions.

"I was so impressed by the Keiretsu investment process that I decided to become a member," added Gombrich.

About Keiretsu Forum

With 12 chapters and over 500 accredited investor members throughout the world, Keiretsu Forum ( is the largest North American angel investment network. Keiretsu Forum members provide early-stage capital in the range of $250K-$2MM to high-quality, diverse investment opportunities and collaborate in the due diligence, but make individual investment decisions.

About Diamics, Inc.

Diamics Inc. is a privately owned medical device and diagnostics company located in the San Francisco Bay Area. The company is committed to developing, manufacturing, and marketing cost effective, molecular-based cancer screening and diagnostic systems that will increase long-term cancer survival rates through early detection. Diamics' management team has an extensive track record of success in the medical device and diagnostics industries. The company's mission is twofold: to help medical personnel worldwide improve the lives of the people they treat and to generate a return on investment for its shareholders. For more information, please visit

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