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Madison biotech NimbleGen files for IPO; one of states' best-funded firms

WTN News

March 16, 2007

Madison, Wis. — Providing few details, NimbleGen Systems announced on Friday afternoon that it has filed for an initial public offering.

The share price and number of shares are yet to be determined. J.P. Morgan Securities is taking a lead role, with Thomas Weisel Partners, Leerink-Swann & Company and Robert W. Baird & Co. participating.

NimbleGen is one of Wisconsin's most-funded companies. A $12.5 million venture capital investment at the close of 2006 brought the company's total venture investment received to more than $60 million, a level of capitalization that makes a significant exit strategy such as an IPO practically necessary for the firm's investors.

Shares are not yet available. Watch for more details.

Related stories:

• Midwest hotter for healthcare investments

• Wisconsin fares slightly better in venture capital chase

• NimbleGen names CFO with capital-raising past

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

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