UniSyn Technologies Inc. said it has raised $4.3 million in anoverscribed private offering.
Based in Tustin, Calif., the 3-year-old company markets morethan 20 products to institutional and academic investorsworldwide.
"Funds will be used to complete UniSyn's research anddevelopment on novel affinity ligand separation products," saidfounder Stan Yakatan, vice chairman and chief executiveofficer, "and to begin to integrate separations products withhollow fiber systems for cell therapy."
Critical investors in the financing are Hambrecht & QuistLondon Ventures, Ventana Atrix Fund Five and Norsk Hydro. H& Q and Ventana participated in the syndication of several oftheir financial partners.
Other investors include Convergences Gestion, N.F. Nordiska,Fund Kommission, Nordic Health Care Partners and BioCapital.BioCapital, the largest biotechnology fund in Montreal,anticipates that UniSyn will engage in a research anddevelopment project in that city.
UniSyn is currently in discussions with two potential partnersin Montreal to develop the first on-line production andpurification system for biotechnology.
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