VANCOUVER, British Columbia, Canada – Precision NanoSystems, Inc. (PNI), a privately held biotechnology company developing proprietary microfluidic-based manufacturing technology for the use and development of cutting edge nanomedicines, today announced completion of its initial external private financing. Founded in 2010, PNI has thus far supported the development of its proprietary technology through partnerships, grants, and financing by the founders. Proceeds from the current financing will be use to accelerate the commercialization of its NanoAssemblrTM Benchtop Instrument that allows drug developers to more rapidly develop novel nanomedicines, and its nanomedicine-based SUB9KITSTM that allow medical researchers to more rapidly identify genes causing disease.
Concurrently with this financing, PNI will bring Mr. Paul Geyer onto PNI’s Board of Directors. Mr. Paul Geyer is a leading biotechnology entrepreneur and investor and brings wealth of experience and capabilities to PNI. PNI’s CEO, Dr. James Taylor, commented, “I am excited about closing this financing and having Mr. Geyer provide his leadership on PNI’s Board. The founding team has been very successfully at using non-traditional sources of capital to develop the NanoAssemblrTM and SUB9KITSTM products. Through this financing, we have assembled a very strong group of private investors to further support our development as we proceed through commercialization. Additionally, Mr. Geyer brings a strong track record of commercial success as an executive, director, and investor and will add significantly to PNI’s team.”
About Precision NanoSystems, Inc.
At Precision NanoSystems we are creating innovative tools for the development and manufacture of best-in-class nanoparticles for use as medicines, and in medical research. Our proprietary NanoAssemblr platform enables the simple, rapid, reproducible, and scalable manufacture of next-generation nanoparticle formulations for the targeted delivery of therapeutic and diagnostic agents to difficult-to-access cells and tissues in the body. We provide instruments, reagents and services to life sciences researchers and build strategic collaborations to revolutionize healthcare through nanotechnology. To join the revolution visit our website.
About Paul Geyer
Paul Geyer is CEO of LightIntegra Technology Inc. At the end of 2001 Paul started Medical Ventures Corp.,a new specialty vascular device company where he is now Chairman. From its inception to June 2008, Mr. Geyer held the position of CEO at Medical Ventures (now Neovasc) and was responsible for raising over $40 million in Equity financing in the Private and Public markets and growing the company’s product portfolio through internal development and the acquisition of 3 other companies. In 1991 Paul founded Mitroflow International Inc., a tissue heart valve company. Paul grew the company from 9 employees to more than 125 employees in 1999, at which point he sold Mitroflow to Sulzer Medica. Paul’s leadership resulted in Mitroflow growing revenues from zero to more than $8 million per year and to over 175 employees. Mitroflow continues to be one of the largest medical devices companies in the Vancouver area, currently employing more than 200 people. Paul currently sits on a number of Corporate and Non-profit boards and is actively engaged as a Philanthropist with Social Venture Partners Vancouver, Science World, Entrepreneurship at UBC and other local and International organizations. Paul graduated with a B.A.Sc. in Electrical Engineering from the University of British Columbia in 1988. A Professional Engineer, he has taken numerous postgraduate courses in Bio-medical Engineering and medical technology and has completed the Canadian Securities Course.