SIONEX ANNOUNCES STRATEGIC INVESTMENT AND DEVELOPMENT AGREEMENT WITH IN-Q-TEL
April 24, 2006
Sionex Corporation, a company focused on commercializing breakthrough chemical and biological sensors and systems, today announced a strategic investment and development agreement with In-Q-Tel, a private venture group funded by the Central Intelligence Agency (CIA) and the U.S. Intelligence Community.
“This agreement with In-Q-Tel is a tremendous validation of Sionex’s technology and its significance for realizing the vast potential of cutting-edge detection technology for chemicals and biological materials,” said Wes Davis, President and CEO of Sionex Corporation. “In-Q-Tel’s investment will allow Sionex to continue leading the next wave of the detection revolution.”
This new investment capital will be used to support both commercial market and technical development efforts. It will also enable Sionex to provide additional support to its major customers in the government, environmental, diagnostics and industrial sectors.
“Sionex has developed a revolutionary biological and chemical sensing platform that is highly applicable to a wide range of commercial and government markets,” said Amit Yoran, President and CEO of In-Q-Tel. “Sionex’s unique capabilities have the potential to bring about a paradigm shift in detection systems, enabling the sensing of compounds on an unparalleled scale with unprecedented sensitivity and selectivity.”
About Sionex Corporation
Sionex Corporation is focused on commercializing breakthrough chemical and biological sensor chips and systems based on its proprietary microDMx™ detection technology. Sionex maintains its worldwide headquarters and laboratories in Bedford, Massachusetts. The Company is privately held and was founded in 2001 with patented technology licensed exclusively from The Charles Stark Draper Laboratory. Additional information about Sionex Corporation is available at www.sionex.com.