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SpinX Technologies secures € 10 million in Series B financing
from top European and American life science and technology investors


Geneva, Switzerland, September 6, 2005 – SpinX Technologies, a privately held provider of innovative technology to perform biological assays, today announced that it has secured €10 million (12.5 million USD) in a Series B financing. The round was led by Bio Fund Management, with equal participation from seed and Series A investor Index Ventures, as well as from Auriga Partners and DFJ ePlanet Ventures. The CERN Pension Fund also participated in the financing. The funds raised will support the further development and initial commercialization of SpinX’s “programmable microfluidics” platform to perform biological assays.

“We are delighted with the confidence placed in us by the new investors and by the unwavering support from our existing investor for our mission to transform the instrumentation for biological assays,” said Bart Van de Vyver, Founder of SpinX and Head of Corporate Development. The SpinX technology integrates assay preparation and readout in a single bench-top device, enabling greatly increased flexibility of experiment design. By dramatically reducing the manual work involved in setting up and performing biological assays, the technology allows scientists to concentrate on their research and healthcare practitioners to concentrate on their patients.

“Our technology is surprisingly simple,” said Piero Zucchelli, Founder of SpinX and Head of Research and Product Development. “It is entirely based on off-the-shelf components and technologies. The main challenge in developing the platform was the integration of very diverse components – something we are used to dealing with from our days at CERN. At SpinX, the biology and chemistry adds another dimension, but we’ve overcome this challenge thanks to our highly diverse and committed team.”

“Having served on the SpinX Board of Directors since the company was created, the team’s innovation continues to amaze me,” said Thierry Jean, Founder and CEO of CEREP. “Each time a possible limitation of the technology is identified, they manage to swiftly find a solution which is both elegant and innovative. An example of this resourcefulness is the way in which they figured out how to leverage existing microtitre plate infrastructure to load the SpinX microfluidic cards, eliminating a compatibility problem which has prevented broad adoption of other microfluidic technologies.”

“What attracted me to the SpinX technology was the potential I saw for a generic front-end to any type of biological assay,” said Sam Eletr, co-founder and acting CEO of Population Genetics Ltd and co-founder and former CEO of Applied Biosystems. “Since I joined the SpinX Board of Directors, the potential for the technology to become as ubiquitous as a pipettor has become even clearer. Applications for the technology are numerous and exciting – from drug screening to genetic testing and clinical diagnostics – and one of the challenges will be to choose which of these opportunities to address first.”

As part of the financing, Seppo Mäkinen, Senior Partner of Bio Fund Management, and Philippe Peltier, Partner of Auriga Partners, will become Directors of SpinX. Mir Imran, founder of Cardiac Pathways and of Percusurge, will represent DFJ ePlanet on the Board. Richard Rimer, Partner of Index Ventures, and Giuseppe Zocco, General Partner of Index Ventures, will continue to serve on the SpinX Board of Directors.

“We rarely invest directly in privately held companies, but we are pleased to invest in SpinX alongside a committed group of top-tier venture capital funds,” explained Christian Cuenoud, Administrator for the CERN Pension Fund. “The founders’ background at CERN - where they performed fundamental research for many years – obviously played a role as well.”

“Two years ago, the partnership took a bet on the founding team because of their vision for microfluidics and the unique angle they were coming at biology from,” said Richard Rimer, Partner at Index Ventures. “We worked together with


Publisher Contact Information:

SpinX Technologies
+41 22 7826700
bart.vandevyver@spinx-technologies.com

Company profile of SpinX Technologies
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