After Canceling IPO Plans Last Year, Nanosys Raises $40 Million in Private Equity Financing
Nanosys did not give an explanation for revisiting the IPO route, but the nanotech company explained that it would use this latest round of financing to fund development and manufacturing scale-up of products that have the company’s exclusive inorganic nanostructures. Existing and new investors in the company include ARCH Venture Partners, Intel Capital, Medtronic, Inc., and Polaris Venture Partners. Nanosys’ current product development programs include non-volatile memory for electronic devices, chemical analysis chips for pharmaceutical drug research, and fuel cells for portable electronics.
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