Xanthon Completes $12-Million Preferred Stock Financing

Genomics company Xanthon Inc. (Research Triangle Park, NC) has successfully completed its $12-million Series "D" Preferred Stock financing. Investors in the financing included: Intersouth Partners, Noro-Moseley Partners, Franklin Street Partners, Cordova Technology Partners, the Aurora Funds, Centennial Venture Partners Fund, and The North Carolina Technology Development Authority.

Xanthon president and CEO Jim Skinner anticipates that the company will be in beta site product evaluations in the third quarter of 2000, and expects product launch and revenues from the Xanthon Xpression Analysis System in 2001. This financing, he says, "places Xanthon in a strong position to proceed through manufacturing scale-up to market introduction."

Xanthon is a genomics company with patented technology for the direct analysis of DNA and RNA. The company anticipates that its first product for high throughput screening applications in pharmaceutical companies for drug discovery will be available in 2001.

For more information: Jim Skinner, President and CEO, Xanthon Inc., 104 T W Alexander Dr., Research Triangle Park, NC 27709. Tel: 919-572-0707.

Edited by Jim Pomager