Content provided in partnership with

Xanthon Completes $12 Financing

Xanthon Inc. of Research Triangle Park has successfully completed a $12 million Series "D" preferred stock financing to fuel its development of patented technology for the direct analysis of DNA and RNA.

Investors in this round included Intersouth Partners of Morrisville, Noro-Moseley Partners of Atlanta, Ga., Franklin Street Partners of Chapel Hill, Cordova Technology Partners of Atlanta, Ga., the Aurora Funds of Durham, Centennial Venture Partners Fund of Raleigh, and the North Carolina Technology Development Authority. Xanthon has previously received funding from the North Carolina Biotechnology Center.

Most Popular Articles in Technology: An overview of continuous data protection; Why all those current ratings?; Many countries now have a mobile penetration rate above 100%, report says; The Tata Group's big telecom gamble: VSNL's recent acquisition of Tyco ...; MEASURING BANK BRANCH EFFICIENCY USING DATA ENVELOPMENT ANALYSIS: MANAGERIAL ...; More »

"Xanthon continues to make significant progress with its research and product development activities," said Jim Skinner, president and CEO. "We anticipate that the company will be in beta site product evaluations in the third quarter of 2000 and anticipate product launch and revenues from the Xanthon Xpression Analysis [System.sup.TM] in 2001. This successful Series "D" financing places the company in a strong position to proceed through manufacturing scale-up to market introduction."

The company anticipates that its first product for high throughput screening applications for pharmaceutical drug discovery will be available in 2001.

Technology Industry

Xanthon Completes $12 Financing

BT Catalyst, May, 2000

Find Research Guides for:

Find Featured Titles for: Autos

Most Popular Articles in Technology

Most Popular Publications in Technology