Nanostream nets $22M in ongoing round

June 4, 2003 — Nanostream Inc., a Pasadena, Calif., developer of microfluidic systems to automate laboratory procedures, announced a $22 million commitment from institutional investors in an ongoing round of financing.

AEA Investors and Lilly BioVentures are leading the round and were joined by previous investors Techno Venture Management, Flagship Ventures and others. The money will be used to expand staff and scale up manufacturing, according to a news release, which said the company will soon launch its first product.

Nanostream also announced that Charles Schalliol of Lilly BioVentures and Michael Berendt of AEA Investors will join the company’s board of directors. Nanostream employs about 50 people.

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