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FOR IMMEDIATE RELEASE December 17, 2003 Guava Technologies, Inc., a biomedical products company focused on developing and commercialising cell-based analysis systems for life science research & development and clinical diagnostics, today announced that it has raised $27 million in a Series D private venture financing. Guava Technologies, Inc. completes $27 Million in Private Equity Financing Guava Technologies, Inc., a biomedical products company focused on developing and commercialising cell-based analysis systems for life science research & development and clinical diagnostics, today announced that it has raised $27 million in a Series D private venture financing. The financing was led by Boston-based venture capital firm, HLM Venture Partners, and included Series C investors Abingworth Management, ProQuest Investments, Skyline Ventures, St. Paul Ventures, Fog City Fund, Yasuda Enterprises and several new leading life science investors -- Granite Global Ventures, MDS Capital, Integra Ventures, Peninsula Equity Partners, Stanford University and other investors. Guava expects to use the financing proceeds to expand its marketing and sales capabilities and to develop new products focusing on cancer research, drug discovery, cell profiling, bioprocessing, clinical immunology and other fields of use. "Guava is a leader in the area of cellular analysis, a field that is exploding due to its increasing importance in drug discovery, development and clinical diagnostics," said Ed Cahill, managing partner with HLM. "Guava is revolutionising the way cell biologists conduct their experiments by providing them with easy-to-use microvolume cytometers at their benchtops. In combination with the Company's proprietary assays and software applications, Guava's systems provide turnkey solutions, enabling researchers to perform more experiments faster than ever before." "We are extremely pleased with the level of interest in this over-subscribed later stage private round of financing," said Rajen Dalal, Guava Technologies' president and chief executive officer. "I am delighted to have Ed Cahill and Scott Bonham join the board. We also appreciate the continued support of previous investors and board members. Working together, we will expand the market for our revolutionary technology." Prior to HLM Venture Partners, Ed Cahill was a founding partner of Camden Partners and was a managing director and head of the Health Care group at Alex. Brown & Sons. Scott Bonham is a managing director of Granite Global Ventures, which is sponsored by Venrock Associates, TIF Ventures (Singapore), and U.S. Bancorp Piper Jaffray. Prior to Granite, Scott was vice president at the Capital Group Companies. About Guava Technologies Guava Technologies, Inc. is a leading provider of integrated, fully optimised microcytometry and cell counting systems. Guava serves the worldwide life science, biotechnology and pharmaceutical industries, offering a state-of-the-art, comprehensive portfolio of products designed to accelerate discovery and increase productivity with accessible, easy-to-use solutions to the biologist's testing problems available right at the lab bench. Guava's products have broad applications in scientific research, drug discovery, cell counting, and optimisation of commercial bioproduction. Guava's technology also offers potential for use in clinical testing and blood processing, as well as other areas where single cell counting is important. The Guava PCA systems offer an integrated, optimised approach that takes the guesswork out of single cell analysis and counting. Based on patented micro-capillary technology, the Guava PCA systems are available in three formats. These cell analysis systems are flexible, highly affordable and ultra-compact, requiring only a few microlitres of sample volume, thus saving precious and expensive cells, reagents and compounds. Guava offers a variety of assays and dedicated software modules for the Guava PCA systems, enhancing the system's overall ease-of-use. More information about the company and its products is available at www.guavatechnologies.com.
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