SOURCE: Sionex Corporation

April 24, 2006 08:00 ET

Sionex Corporation Announces Strategic Investment and Development Agreement With In-Q-Tel

BEDFORD, MA -- (MARKET WIRE) -- April 24, 2006 -- Sionex Corporation, a company focused on commercializing breakthrough chemical and biological sensors and systems, today announced a strategic investment and development agreement with In-Q-Tel, a private venture group funded by the Central Intelligence Agency (CIA) and the U.S. Intelligence Community.

"This agreement with In-Q-Tel is a tremendous validation of Sionex's technology and its significance for realizing the vast potential of cutting-edge detection technology for chemicals and biological materials," said Wes Davis, President and CEO of Sionex Corporation. "In-Q-Tel's investment will allow Sionex to continue leading the next wave of the detection revolution."

This new investment capital will be used to support both commercial market and technical development efforts. It will also enable Sionex to provide additional support to its major customers in the government, environmental, diagnostics and industrial sectors.

"Sionex has developed a revolutionary biological and chemical sensing platform that is highly applicable to a wide range of commercial and government markets," said Amit Yoran, President and CEO of In-Q-Tel. "Sionex's unique capabilities have the potential to bring about a paradigm shift in detection systems, enabling the sensing of compounds on an unparalleled scale with unprecedented sensitivity and selectivity."

About Sionex Corporation

Sionex Corporation is focused on commercializing breakthrough chemical and biological sensor chips and systems based on its proprietary microDMx™ detection technology. Sionex maintains its worldwide headquarters and laboratories in Bedford, Massachusetts. The Company is privately held and was founded in 2001 with patented technology licensed exclusively from The Charles Stark Draper Laboratory. Additional information about Sionex Corporation is available at www.sionex.com.

About In-Q-Tel

In-Q-Tel is a private, independent, not-for-profit venture group established by the CIA. Launched in 1999, In-Q-Tel's mission is to identify and invest in companies developing cutting-edge technologies that serve United States national security interests. Working from an evolving strategic blueprint defining the Intelligence Community's critical technology needs, In-Q-Tel engages with entrepreneurs, growth companies, researchers, and venture capitalists to deliver technologies that provide superior capabilities for the CIA, DIA, FBI, NGA, and the larger Intelligence Community ("IC"). In-Q-Tel concentrates on three broad commercial technology areas: software, infrastructure and material sciences. To date, In-Q-Tel has engaged with more than 90 companies and delivered more than 120 technology solutions to the IC. To learn more about In-Q-Tel, please visit www.in-q-tel.org.

microDMx™ and Protection by Detection™ are trademarks of Sionex Corporation.

Forward-looking Statement

Some statements in this announcement constitute forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Sionex Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that the forward-looking statements included in this announcement will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of this information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.

Contact Information

  • EDITORIAL CONTACTS:
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    Anthony D. Bashall
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