Date: Dec 13, 2012 Source:
Sudbury, MA-based Virgin Instruments Corp. doing business as SimulTOF Systems, ("SimulTOF" or the "Company"), a developer, manufacturer, and marketer of user-friendly, reliable and cost-effective systems focused on detection, recognition, measurement, and characterization of proteins and other compounds found in biological samples received an undisclosed equity and R&D investment from a world leader in the health and life sciences industry. Proceeds will expand SimulTOF's research and development and sales and marketing initiatives.
Dr. Marvin Vestal, Founder, Chairman and Chief Scientific Officer, commented, "The team at HighBank was outstanding. We could not have successfully raised the capital we require to grow our business without their tireless commitment. We look forward to working with HighBank to successfully close the Series A round early in 2013."
HighBank Advisors, a Baltimore-based mid-market investment bank, acted as exclusive financial advisor to and placement agent for SimulTOF.
Stephen Gaines, Managing Director, at HighBank stated, "We believe SimulTOF's state of the art MALDI-TOF and TOF-TOF mass spectrometry solutions will lead the way in biological and clinical research applications. Their advanced science and burgeoning commercial applications are unmatched in the market today. Marvin and his team are extremely well positioned to exploit these market opportunities."