Harris & Harris Group Portfolio Company, OpGen, Gains $6 Million Investment From Merck GHI in Addition to New Acquisition
NEW YORK, July 15, 2015 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (NASDAQ:TINY), an investor in transformative companies enabled by disruptive science, notes that its portfolio company, OpGen, an early commercial-stage molecular testing and bioinformatics company, has announced the closing of a $6 million financing by the Merck Global Health Innovation Fund (Merck GHI). OpGen plans to use the investment to further its molecular information business and rapid diagnostics to guide antibiotic therapy.
OpGen also recently announced the acquisition of AdvanDx, a developer of advanced molecular diagnostic products. Through this deal, OpGen will gain a family of FDA approved and CE marked rapid molecular tests for use with the company’s Acuitas MDRO Gene tests and bioinformatics for multi-drug resistant organisms.
“We have always been impressed by OpGen and its progress, but, with the financial help and guidance of Merck GHI along with the acquisition of AdvanDx, we believe that OpGen is well positioned for continued success,” says Misti Ushio, Ph.D., Managing Director and Chief Strategy Officer at Harris & Harris Group. “With these new tools and expertise at OpGen, the company will be able to expand its revenue, customer base and global reach.”
For more information on the $6 million financing with Merck GHI: http://ir.opgen.com/phoenix.zhtml?c=253977&p=irol-newsArticle&ID=2067591. For more information on the acquisition of AdvanDx: http://ir.opgen.com/phoenix.zhtml?c=253977&p=irol-newsArticle&ID=2067590.
About Harris & Harris Group
Harris & Harris Group is a publicly traded venture capital firm that is also a business development company. Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com, on Facebook at www.facebook.com/harrisharrisvc and by following on Twitter @harrisandharrisgroup.
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2014, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including, but not limited to, the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The references to the websites www.HHVC.com, www.Facebook.com and www.opgen.com have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Harris & Harris Group is not responsible for the contents of third party websites.
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Released July 15, 2015