NIMBLEGEN SYSTEMS RAISES ANOTHER $8.2 MILLION IN FINANCING

Company Has Raised $50 Million to Date


 


MADISON, WI—December 2, 2005

NimbleGen Systems Inc. announced today it has raised 8.2 million in a private venture financing round led by Cargill Ventures and Skyline Ventures. NimbleGen, the leading provider of flexible high-density microarray products and services for genetic analysis, has raised a total of $50 million since its inception in 1999. The company will use the new funding to finance its rapid expansion as it works to enable High-Definition GenomicsSM, which provides researchers enhanced detail of information concerning genetic variation, and clarity of complex data sets.

"NimbleGen is uniquely positioned in the microarray market,” said Jim Sayre, president of Cargill Ventures. “The company has made enormous strides in the past year, becoming the ChIP-chip market leader, launching its CGH platform with the highest resolution in the market, and pushing the frontier of emerging, novel applications." Dr. David Lowe, NimbleGen Director at Skyline Ventures, agreed, “We’re confident in NimbleGen’s technology and management. NimbleGen Systems has assembled a world class team of managers and scientists who have done an outstanding job of positioning the company for rapid growth with their technical accomplishments and strategic relationships, serving customers’ needs in new and existing markets.”

“The additional funds support NimbleGen’s rapid pace of growth,” said NimbleGen President and CEO Dr. Stanley Rose. “We are extremely excited about the opportunity to develop and leverage leading positions in a variety of emerging markets involving genetic analysis. We have been growing very rapidly over the past two quarters, and our investors have stepped forward to provide the resources needed to take NimbleGen to the next level of commercial success.”

NimbleGen is working to enable High-Definition Genomics, a rapidly growing approach to genomic science that provides enhanced detail of information concerning genetic variation, and clarity of complex data sets. The flexibility of NimbleGen’s microarray platform combined with its proven products of expression, ChIP-chip, CGH, and comparative genome sequencing provide the basis for new avenues of basic genomics research as well as diagnostics and therapeutic development.

All of the company’s existing venture capital and institutional investors participated in the round, including Cargill Ventures, Skyline Ventures, Baird Venture Partners, the State of Wisconsin Investment Board, Tactics II Investments LLC, Topspin Partners, Venture Investors LLC, and The Wisconsin Alumni Research Foundation (WARF).

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Topspin Partners, LP


Three Expressway Plaza
Roslyn Heights, NY 11577

Tel: +1 516 625 9400
Fax: +1 516 625 9499

info@topspinpartners.com

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