Harris & Harris Group Portfolio Company, ORIG3N, Closes $12.5 Million in Funding
NEW YORK, Dec. 16, 2015 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (Nasdaq:TINY), an investor in transformative companies enabled by disruptive science, notes the announcement by its precision health portfolio company, ORIG3N, Inc., that it has closed a $12.5 million Series A financing. Participating in this round in addition to Harris & Harris Group, Inc., are new investors Syno Capital and DEFTA Partners and existing investors Hatteras Venture Partners, LabCorp, MGC Venture Partners, and KTB-KORUS Fund. The funding will be used to support the launch of LifeSystems™ cellular models created from ORIG3N’s LifeCapsule™ bio-repository, a living database of humanity, which launched earlier this year.
"ORIG3N has made great progress in 2015 by creating one of the largest banks of induced pluripotent stem cells in the world, in engaging the customer around their genetic health, and in developing models of rare genetic diseases,” said Douglas W. Jamison, Chief Executive Officer of Harris & Harris Group. "We believe ORIG3N is charting an exciting path in the emerging precision health marketplace by providing both the consumer and the pharmaceutical industry with important phenotypic information as well as genotypic information at an individualized level."
ORIG3N's press release may be viewed at http://www.streetinsider.com/Press+Releases/ORIG3N%E2%84%A2+Closes+$12.5+Million+in+Funding+Lead+by+Hatteras+Venture+Partners+and+Syno+Capital/11158738.html.
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.streetinsider.com, and www.Facebook.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.
Press contact Jessica Attanasio Associate Vice President Gregory FCA Jessica@GregoryFCA.com 610-228-2112
Released December 16, 2015