MENLO PARK, Calif., Dec. 21, 2011 (GLOBE NEWSWIRE) -- Square 1 Bank, the exclusive banking partner to entrepreneurs and the venture capital community, is pleased to provide a $5 million debt facility to Pleasanton, CA based IntegenX Inc. IntegenX manufactures and markets automated microsample preparation systems for the life sciences industry.
"Square 1 Bank is a great partner for IntegenX because of its understanding of the venture debt and banking needs for emerging growth companies," said Stevan Jovanovich, PhD, IntegenX President and CEO. "We have been impressed with the professionalism of the Square 1 team, their responsiveness to IntegenX's capital needs and the level of service we received throughout the process."
Scott Foote, SVP and Managing Director of Square 1 Bank's Life Sciences West division commented, "We identify with IntegenX's story in their drive to create something better for their industry. It's exciting to partner with a company who embraces innovation and knows how to think outside the box. IntegenX has strong technologies and solutions in place with a great leadership team and investors so we look forward to their future growth."
About IntegenX
IntegenX Inc., headquartered in Pleasanton, CA, is a privately-held company that leads the emerging field of rapid human DNA identification. IntegenX technology platforms are the result of integration of advanced fluidics and robotic capabilities to produce sample-to-answer products for DNA-based forensics and human identity (HID) testing, next generation sequencing, biodefense, and molecular diagnostics applications. The company's expertise and intellectual property includes its patented MOVe™ valve technology as well as a portfolio of patented DNA and RNA reagents including GenTegra™ for stabilization and storage of purified DNA and RNA, GenPlate™ for storage of blood samples, and patent-pending PrepX™ reagent kits for next generation sequencing library preparation. For more information, please visit www.integenx.com.
About Square 1 Bank
Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide solid support for its clients' needs. The bank offers tailored products and solutions aided by the latest in technological innovations. To serve its relationships, Square 1 has offices coast to coast in Austin, Boston, Boulder, Durham, McLean, New York, San Diego, Santa Monica, Seattle, and Silicon Valley. For more information, visit www.square1bank.com.
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