MicroPhage Raises $11 Million

MicroPhage Inc., a Longmont, Colo.-based provider of bacterial identification and antibiotic susceptibility/resistance testing, has raised $11 million in new VC funding. No investor information was disclosed.

PRESS RELEASE

MicroPhage, Inc., http://www.microphage.com, today announced it has concluded its latest round of financing, which brings total capital raised to $11 million. Investors in this round were a combination of existing and new investors. All funds to date have come from private investors.

MicroPhage will apply proceeds of its financing to complete the validation and launch preparation of their initial diagnostic products, which address the growing need for simple, rapid and highly accurate tests for hospital-acquired infections (HAIs), such as MRSA.

R. Gary Mesch, chairman of MicroPhage commented “MicroPhage investors are confident the company will deliver badly needed diagnostic tools in the fight against MRSA and other HAIs. Closing a significant funding round in this tough financial climate is a noteworthy achievement.”

MicroPhage CEO Steve Lundy added: “We have been validating our products in the field and have received excellent feedback from laboratory professionals who tested them against current methods. We are looking forward to completing our validation work and launching products, which leverage the tremendous power of bacteriophage amplification technology for rapid bacterial identification and susceptibility testing.”

About MicroPhage

Based in Longmont, Colo. and privately held, MicroPhage, Inc. is working to be a global leader in developing rapid diagnostics products for bacterial identification and antibiotic susceptibility/resistance testing. Using its bacteriophage-based amplification platform, the company has developed a patented process that is a product platform or engine for rapid, easy-to-use, inexpensive diagnostic tests. Its first products, expected in late 2009, will set a new standard for clinicians in MRSA identification and antibiotic susceptibility testing, and are designed to fit the demands of hospitals and laboratories of all sizes. For further information, go to http://www.microphage.com.