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Picoliter Inc. Announces R&D Vice President and New Facility

Picoliter Inc. announced today that Michael F. Miller has joined the company as Vice President of Research and Development. Additionally, plans to move to an expanded facility in Sunnyvale, CA were unveiled.

October 07, 2002

Mountain View, CA

Mountain View, CA, October 7, 2002—Picoliter Inc. announced today that Michael F. Miller has joined the company as Vice President of Research and Development.  Additionally, plans to move to an expanded facility in Sunnyvale, CA were unveiled.

"As we evolve from a research stage company into a product development organization, it is critical for us to develop a strong R&D team,” said Elaine J. Heron, Ph.D., Chief Executive Officer.  “In his 14 years at Molecular Dynamics and Amersham Biosciences, Michael Miller has demonstrated his ability to lead the development of products that have brought innovative capabilities to life science researchers.  Michael will play a key role in bringing products incorporating the Picoliter® acoustic drop ejection (ADE) technology to the marketplace.  Our new facility will allow us to accommodate the growing R&D group as well as other functions needed for our commercial development.”

Michael Miller has 23 years experience in engineering and management and was most recently Department Director, Genomics Systems Development and a member of Amersham Biosciences' Sunnyvale site senior management team.  During his tenure at Molecular Dynamics, which was acquired by Amersham, he held several other positions including Director, Product Development and Director of Mechanical Engineering. He was instrumental to the successful introduction of a variety of products including the PhosphorImager®, FluorImager®, StormTM systems and the MegaBACE® DNA sequencer. Michael holds a B.S. in mechanical engineering from San Jose State University.

This month Picoliter will relocate to 1190 Borregas Avenue, Sunnyvale, CA 94089.   The 19,200 sq. ft. facility will house all the company’s U. S. operations.  Following the relocation, the company’s telephone general number will be (408) 747-2000.

Picoliter Inc. is a privately held, development stage company that has developed a novel technology for moving and analyzing small amounts of liquid using ultrasound energy.  The Picoliter® liquid handling technology has broad applications in the life science tools market including dispensing equipment, microarrays, and live cell transfer devices.  The company’s initial products will enable researchers to reduce the amount of expensive reagents used in drug discovery and development assays by a factor of 10 to 100.  The company has one issued U.S. patent and over 30 applications pending with the USPTO as well as additional international filings.

Members of the Picoliter management team have successfully brought to market a wide variety of products based on new technologies.  The company includes individuals with experience in senior management, array/consumables manufacturing, business development, intellectual property protection and product development at Affymetrix, Amersham Biosciences, Applied Biosystems, Eastman Kodak, Incyte, International Paper, Molecular Dynamics, Packard Instruments, Symyx, and Xerox PARC.

Picoliter Inc. has received $27.1 million in two rounds of financing.  Series A was provided by Delphi Ventures and Alloy Ventures, who are represented on the board of directors by Paul Auerbach, M.D. and Craig Taylor, respectively. Series B was co-led by Abingworth and Sprout Group, each with long histories in supporting successful life science firms.  Jonathan MacQuitty, Ph.D. of Abingworth and Vijay Lathi of Sprout Group have joined the company’s board of directors.   Management is represented on the board of directors by Elaine Heron, CEO, and Richard Ellson, founder and CTO.




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LABCYTE INC.
170 Rose Orchard Way
San Jose, California 95134
USA
Tel:
+1 408 747-2000
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+1 877 742-6548
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