Harris & Harris Group Portfolio Company, TARA Biosystems, Raises $2.25 Million in Seed Financing

NEW YORK, Jan. 05, 2016 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (NASDAQ:TINY), an investor in transformative companies enabled by disruptive science, is pleased to note that its portfolio company, TARA Biosystems, Inc., raised $2.25 million in a seed financing to build commercial operations in New York City.  Harris & Harris Group led the financing with participation from the Partnership Fund for New York City and Alexandria Venture Investments. Based on research from the laboratories of Columbia University Professor Gordana Vunjak-Novakovic and University of Toronto Professor Milica Radisic, both scientific co-founders of TARA Biosystems, the company aims to capitalize on the need for more predictive technology for testing the safety and efficacy of new therapies and for the discovery of new drug compounds.

TARA’s press release may be found at http://globenewswire.com/news-release/2016/01/05/799501/0/en/TARA-Biosystems-Raises-Seed-Funding-to-Build-Commercial-Operations-in-NYC.html.  TARA and its round of financing was also profiled in an article by Xconomy that can be found at http://www.xconomy.com/new-york/2016/01/05/with-2-25m-more-tara-bio-grows-and-hunts-for-nyc-lab-space/.

“TARA is a great example of our recent company building efforts.  Harris & Harris Group co-founded the company with Professors Radisic and Vunjak-Novakovic, and Misti Ushio, our Chief Strategy Officer, is the founding CEO of TARA,” said Douglas Jamison, Chief Executive Officer of Harris & Harris Group.  “We are a substantial investor in TARA, and TARA's technology has applications in precision health and medicine, a market in which we are very actively involved.”

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 and links to the websites www.HHVC.com, globenewswire.com, www.xconomy.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:
Daniel B. Wolfe
Harris & Harris Group, Inc.

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Source: Harris & Harris Group