Financings in Brief: Nanogen
This article was originally published in The Gray Sheet
Executive SummaryNanogen: Diagnostics developer plans an initial public offering of up to $40 mil. in common stock. A preliminary prospectus filed with the Securities and Exchange Commission does not specify the anticipated price per share or number of shares to be offered. San Diego-based Nanogen is developing a fully automated, microelectronics-based platform technology for rapid identification and analysis of test samples containing charged molecules, which incorporates a laser-based fluorescence scanner to detect molecular binding. The system has broad commercial applicability in the fields of medical diagnostics, biomedical research, genomics, genetic testing and drug discovery, Nanogen maintains. The firm has a May 1997 joint venture with Becton Dickinson for development of infectious disease diagnostics based on the technology. Separate collaborative agreements signed in December with Hoechst and Elan cover development of drug discovery tools and genomic research applications, respectively.
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