AutoGenomics closes Series C Private Placement Offering
Carlsbad, CA, March 28, 2007 - AutoGenomics, Inc., a leader in developing automated molecular diagnostic testing solutions, announced today that it has completed its Series C financing round of $12,000,000. This private placement offering, like its previous Series A and B rounds, was comprised primarily of non-institutional investors.
“These funds will be used principally to extend our test application menu, expand manufacturing and increase our sales and marketing efforts for the INFINITI™ System” said Fareed Kureshy, President and CEO of AutoGenomics. He further stated that “we believe additional funding will not be necessary in the foreseeable future to maintain the company’s growth. Our first tests for coagulation factors II and V and our analyzer were recently cleared by the FDA. Another test, 2C9/VKORC1 the genetic panel to assess warfarin sensitivity is pending FDA review and several other applications from our pipeline are planned for submission during this year.” With the mapping of genes and the discovery of their links to various disease states AutoGenomics believes its INFINITI™ System has the versatility to revolutionize the way patients are diagnosed, monitored and managed, leading to the convergence of diagnostics and therapy.
AutoGenomics, Inc., a privately held company based in Carlsbad, CA, has developed one of the first microarray-based multiplexing diagnostic systems that can be used to assess disease signatures with novel genomic and proteomic markers in the area of genetic disorders, infectious disease, cancer and pharmacogenetics. For more information, please visit www.autogenomics.com
For further information please contact:
Senior Vice President Sales & Marketing, AutoGenomics
760-804-7378 x 305