Microchip Biotechnologies Raises $18.1M in Series B Financing

PLEASANTON, Calif., Nov. 12 /PRNewswire/ -- Microchip Biotechnologies, Inc.
(MBI), a provider of integrated life science systems for microsample
preparation and analysis, today announced an $18.1M close of its Series B
financing. The capital will fund the commercialization of the Apollo 100
System, a sample preparation system for Sanger DNA cycle sequencing, and the
development of the Apollo platform for the rapidly growing Next-Generation
Sequencing market and for emerging markets in DNA-based human identification
and forensics.

The Series B financing was led by Domain Associates with Samsung Ventures,
Western Technology Investment Inc. (WTI), and other individual investors also
joining as new investors. The previous investors, Rona Syndicates LLC and
In-Q-Tel, both participated in the round.

"The MBI team has tremendous depth in systems integration. This expertise,
combined with MBI's MOVe(TM) technology, will allow life science products to
be integrated in ways never before possible, bringing enabling new solutions
to exciting growth markets," said Dr. Jim Blair, Partner at Domain Associates.
Bill Byun, Managing Director Samsung Ventures America stated, "Samsung
Ventures was impressed by the advanced technical progress at MBI" and sees the
company at a commercial inflexion point as they commence shipping their first
products.

In connection with this financing, Dr. Blair, Domain Associates LLC and Mr.
Bill Byun, Samsung Ventures America, will join MBI's Board. "I am delighted to
welcome Jim Blair and Bill Byun to the Board. They add significant depth and
experience to the team. Jim Blair brings 30 years experience in building
successful life science companies, helping them go from early concepts to
market leadership positions. Bill Byun has deep experience in sales, marketing
and business models from the microelectronics industry," said Dr. Stevan
Jovanovich, President and CEO of MBI.

About Microchip Biotechnologies Inc.

Microchip Biotechnologies, Inc. (MBI) headquartered in Pleasanton, CA, is a
venture-backed, privately held company that has developed and is producing
superior sample processing systems for life sciences, applied sciences, and
diagnostics markets. The company's products are based on the Apollo
next-generation fluidics technology platform that integrates advanced fluidics
and analytical capabilities to produce sample-to-answer performance for DNA
and RNA sequencing, DNA-based forensics and human identity (HID) testing,
biodefense, as well as molecular diagnostics applications. The company's first
product, the Apollo 100 System, enables customers to significantly reduce an
expensive and time-consuming sample preparation bottleneck within Sanger cycle
sequencing with a fully automated laboratory workflow and bead-based cleanup
procedure. The efficiency of the Apollo 100 process dramatically reduces the
use of expensive sequencing reagents.

For more details about MBI, its technologies and products visit
http://www.microchipbiotech.com.

Contact:

Howard D. Goldstein
Microchip Biotechnologies Inc.
5720 Stoneridge Drive, Suite 300
Pleasanton, CA 94568
925-701-3481
howard.goldstein@microchipbiotech.com

This release was issued through eReleases(TM). For more information, visit
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SOURCE Microchip Biotechnologies, Inc.

Howard D. Goldstein of Microchip Biotechnologies Inc., +1-925-701-3481,
howard.goldstein@microchipbiotech.com