Mountain View, Calif.
Went public 3/21/2000 at $21 apiece
Filing Range:9 mil. shares @ $16 to $18
Shares Outstanding:31.17 mil. shares
Underwriters:Deutsche Banc Alex. Brown
Warburg Dillon Read (Co-lead)/U.S. Bancorp Piper Jaffray
(Data in $ millions)
Total Revenue $1.35 $2.94
Net Loss -6.01 -18.45
Aclara Biosciences provides microfuidic, or lab-on-a-chip, services that enables researchers to rapidly perform large numbers of chemical and biological measurements in a miniaturized, automated format. Microfluidic chips allow for the movement of various fluids and materials through microchannel networks, using electric fields to direct the flow of these materials. These networks are designed in a grid or array format to enable researchers to perform multiple measurements in parallel on the company’s LabCard chips. In collaboration with PE Biosystems, the company is developing multiple products that will utilize its LabCard chip products. Aclara expects to commercially introduce its initial LabCard product, the Oasis microfluidic array chip, in late 2000. the new chip will combine its microfluidics technology with PE Biosystems broad platform of technologies, including reagent chemistries, assay methods, instrumentation and software. The company currently owns more than 70 issued patents and pending patent applications. In March 1999, Caliper Technolgies sued Aclara, its former patent law firm and the company’s current general counsel alleging that an outside lawyer who was consulting with both Caliper and Aclara used Caliper’s confidential information in preparing a patent used in most of the LabCard chips currently in development. In April 1999, Aclara filed suit for patent infingement on the same patent. In January 2000, Caliper sued the company alleging infringement on four additional patents.
Approximate proceeds of $116.5 will be used for research and development activities, possible acquisitions and investments in technology, and other general corporate purposes.
Alta Partners, Ampersand Ventures, Asea Brown Boveri Inc., Burrill & Co., Johnson & Johnson Development Corp., PE Corp., CMEA Ventures