PRESS RELEASE: Cyntellect Completes Second Closing of Series D Private Financing $18.1 million raised; Potential for up to $28.4

Cyntellect Completes Second Closing of Series D Private Financing $18.1 million raised; Potential for up to $28.4 million
 
 
	    SAN DIEGO, Sept. 6 /PRNewswire/ -- Cyntellect, Inc. announced todaythat it has completed a $3 million second closing on its Series D Preferredprivate financing transaction. This closing follows the initial Series Dclosing of $15.1 million announced on July 25th 2007. Bru II VentureCapital Fund, based in Reykjavik, Iceland, was the sole participant in thesecond closing. In aggregate, Cyntellect has raised $18.1 million in theSeries D round and under the terms of the transaction the Series Dinvestors may also choose to commit an additional investment of up to $10.3million. The company plans to use the funds to accelerate the developmentand commercialization of its novel cell manipulation products.    The Series D round was led by Third Security, LLC's latest investmentfund under management, New River Management V, LP.    "These additional funds are welcome as they provide further ammunitionfor us to accelerate the commercialization of our products and exploreexciting new applications of our intellectual property," stated FredKoller, Ph.D., Cyntellect's President and Chief Executive Officer. "We arepleased to have Bru as part of the Cyntellect family."    Cyntellect's core technology combines key aspects of laser basedmedicine and semiconductor manufacturing technology to enable high-speed insitu analysis and manipulation of living cells. The technology can beapplied broadly to drug discovery research (e.g. accurately identifying newdrug targets or testing and predicting the physiological effects ofpotential drugs). The technology is also being employed to improve theproductivity of manufacturing therapeutic protein drugs and may provevaluable in manipulating cells as direct therapeutic agents.    About Cyntellect    Cyntellect, Inc. is a life sciences company committed torevolutionizing the use of living cells in life science research andcellular therapy. The company combines expertise in high-speed cell imagingand laser-based manipulation to develop products that enable novel cellimaging, purification, and transfection capabilities to enhance theproductivity of laboratory research, recombinant protein production,high-content cellular assays, functional genomics and proteomics, and cellpurification, including processing of cells for therapeutictransplantation. For additional information please visit the company's website at http://www.cyntellect.com.    About Bru II Venture Capital Fund    Bru II Venture Capital Fund (Bru II) is a venture fund focusing onrapidly growing companies, in areas of bio-tech, high-tech, media andenergy. Investors include a number of Icelandic pension funds,Straumur-Burdaras investment bank and others. Bru II is one of three fundsmanaged by Thule Investment Management whose portfolios include assets inIceland, USA, UK and Scandinavia.    About Third Security, LLC    Third Security is an independent private equity and venture capitalfirm formed in 1999 to manage investments in public and private companies.Third Security evaluates opportunities in a wide range of industries, butprincipally focuses on emerging through late-stage investments in life-sciences and information technology. For more information, visit the firm'sWebsite at http://www.thirdsecurity.com.
	

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