Press releases

QuantomiX Completes $5 Million Financing Round

Round was Led by Evergreen Venture Capital and Included Current Investors Pitango Venture Capital, Vitalife and SFKT

Herzliya, Israel, 17 August, 2004. Quantomix today announced the completion of a $5 million financing round. The round was led by Evergreen Venture Capital who invested $2 million. The round is a continuation of the second financing round previously led by Vitalife in August 2003. In addition, the round included Pitango Venture Capital, Vitalife and SFKT.

QuantomiX, a life sciences company, develops and produces a breakthrough technology that provides high-resolution quick imaging of wet samples in their natural environment. The flagship product of the company is the QX Capsule that allows the examination and analysis of samples in an electron microscope without the traditional treatment that includes drying, freezing or any other external procedure that may affect the examination result.

The company, which completed a $4 million first round of financing in 2001 and a second financing round of $3.5 million in August 2003, has cooperation agreements with scientists in leading research institutes in Europe, United States and Israel. In March 2004 the company products, which until recently were marketed solely in the United States, were made available in Europe

"The current financing round will assist Quantomix in increasing its research and development activities for the next generation solutions that will focus on obesity and medical diagnostics as well as sales and marketing efforts for the current products," says Ory Zik, CEO of QuantomiX. "I am delighted that our investors have given us the ability to renew and develop products that shift the paradigm in relation to high resolution imaging of biological and medical samples," he added.

Dr. Ronit Bendori, Managing Partner of Evergreen Venture Capital related that "the faith we have in QuantomiX stems from its ability to develop products that constitute a technological breakthrough in the electron microscopy domain. These tools allow the research and analysis of samples that previously could not be examined in such a precise manner and provide a practical and convenient solution to existing problems in the research, pharmaceutical, nutrition and chemistry markets." Bendori added, "The current financing round will accelerate the company growth by directing appropriate resources to the next generation products that are currently being developed."

Dr. Nissim Darvish, Senior Principal at Pitango Venture Capital says, "Pitango has backed QuantomiX from its initial stages and will continue to do so in the future as we have faith in its experienced management team and its innovative technology." He added that, "The market response to the company's products is extremely positive and the additional financing will allow the company to extend its current market, effectively penetrate new markets and develop its next generation products."

About QuantomiX

QuantomiX Ltd. is a company that provides solutions for the problems of rapid high-resolution imaging for improved research diagnostics and drug discovery. The company was founded in 2001 by Ory Zik, Ph.D. and Michael Brunstein, Ph.D., both of whom built their experience in the semiconductor industry where they specialized in automated scanning electron microscopes. The QuantomiX R&D Center is located in Rehovot, Israel and the company is establishing a U.S. headquarters in the Boston, Massachusetts area. QuantomiX is a privately held, venture-backed company whose major investors include Pitango Venture Capital, the leading venture capital firm in Israel and VitaLife, an Israeli-based life sciences venture fund.

About Evergreen Venture Capital

Evergreen, one of the leading venture capital firms in Israel, manages $610 million invested in approximately 85 technology companies. Evergreen contributed to many of the most successful exits of the venture capital industry in Israel many of which can be found among the fund's portfolio companies including, Exalink, Galileo, Creo, Radware, Backweb, and Ceragon. Additionally, Evergreen has invested in other portfolio companies such as BigBand, P-Cube, Exanet, Procognia, ItemField, Pontis, Traiana, and Aduva.

About Pitango Venture Capital

Pitango Venture Capital, the leading venture capital firm in Israel, has been investing in technology entrepreneurs since 1993. With offices in Israel, California, New York and London, Pitango currently manages several venture funds totaling over $1 billion in committed capital invested in more than 85 companies including AudioCodes (NASDAQ: AUDC), Chromatis (acquired by Lucent), CardGuard (SWX New Market: CARDG), ITXC (NASDAQ: ITXC) and Radware (NASDAQ: RDWR). Pitango specializes in providing long-term support and value-added services to its portfolio companies, with a focus on seed to late-stage companies in Communications, Network and Storage, Wireless and Mobile, Enterprise Software and Internet Infrastructure, and Life Sciences including Biotech and Medical Devices. More information about Pitango is available at: www.pitango.com

About Vitalife

Vitalife, a life sciences venture capital fund, invests in Israeli and Israel-related companies in the fields of medical devices, drug discovery, drug delivery and bio-informatics. Vitalife's global investors include HarbourVest Partners, SCP Private Equity Partners, Boston Scientific, Discount Capital Markets and Temasek. The fund's managing partners are Dr. Avi Ludomirski, an acknowledged expert in several medical areas and a successful businessman, and Jeff Dykan, a highly experienced business manager who has worked in senior positions at top global companies. For further information, visit: www.vitalifevc.com