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WaferGen Biosystems


About WaferGen Biosystems

WaferGen Biosystems, Inc. is a leader in the development, manufacture and sale of state-of-the-art systems for gene expression, genotyping, cell biology and stem cell research for the life science and pharmaceutical industries.

SmartChip

The company is actively developing its SmartChip product for the gene expression and genotyping markets. SmartChip is being developed as the first whole genome, high throughput gene expression real-time polymerase chain reaction (PCR) platform and promises to deliver significant speed and cost advantages to researchers in the gene expression and genotyping markets. WaferGen currently markets its SmartSlide family of products to companies and organizations involved in stem cell and cell biology research. SmartSlide, which was launched in 2006, represents the first fluidics integrated micro-incubators enabling cell biology and stem cell research. Representative SmartSlide customers include Harvard University, Mayo Clinic, California Institute of Technology (CalTech), Abbott Labs, and the National Institutes of Health (NIH).

Financial information

In April 09, the company said it has signed a definitive agreement to sell redeemable convertible preferred shares in the company's wholly owned Malaysian subsidiary, WaferGen Biosystems (M) Sdn. Bhd., in a private financing placement with total gross proceeds of $1.5 million. Strategic investors participating in the financing, which the company expects will close this month, include Prima Mahawangsa Sdn Bhd, a wholly owned subsidiary of CAV Private Equity Management Sdn Bhd (a member of the CIMB Group), and Expedient Equity Ventures Sdn Bhd. Proceeds from this financing are expected to be used to manufacture and commercialize WaferGen's SmartChip(TM) Real-Time PCR System.

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