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Digest

NimbleGen closes $8.2m venture round, bringing total to $50m

December 5, 2005

Madison biotech firm NimbleGen Systems Inc. closed its latest, $8.2 million venture round last week, bringing its lifetime venture funding to $50 million, the company said.

The company makes tools for genetic research. Its microarrays, basically slides that can have thousands of individual genetic samples on them arranged in a grid, allow scientists and companies to process large amounts of DNA and do comparisons.

Cargill Ventures of Minneapolis, Minnesota, and Skyline Ventures of Palo Alto, California, led the financing round.

NimbleGen's other existing investors participated, including Topspin Partners, Tactics II Investments LLC, Venture Investors LLC, Baird Venture Partners, the Wisconsin Alumni Research Foundation and the State of Wisconsin Investment Board.

"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," said NimbleGen CEO Stanley Rose.

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