NimbleGen nets $12.5M fourth round

April 18, 2003 — NimbleGen Systems Inc., a Madison, Wis., provider of custom microarrays and affiliated services, said this week it closed on a $12.5 million fourth round of financing.


The round was led by new investor Schott Nexterion of Mainz, Germany, the life science division of the Schott Group, according to a news release. New investor ITX Corp. of Japan also participated as a strategic investor. Previous investors Skyline Ventures,Venture Investors LLC, Baird Venture Partners, Tactics II Investments LLC, State of Wisconsin Investment Board and the Wisconsin Alumni Research Foundation also participated.


The funds will be used to accelerate growth of microarray product and service sales, according to Robert Palay, chairman and chief executive. Palay said the 52-person company has sufficient funding to achieve profitability. Including the current round, the company has raised $32.5 million to date.


Meanwhile, former chief executive Mike Treble said today that he has left the company to pursue other opportunities.


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