OTTAWA, April 10 /CNW Telbec/ - Epocal, a privately held developer of
enterprise point-of-care blood diagnostic products, announces the closing of a
US$31 million Series C equity financing.
The Series C round was led by Highland Capital Management L.P. of Dallas,
Texas and also included participation from founding investor, Genesys Capital
Partners. Proceeds of the financing will be used to commercialize EPOC(TM),
the Company's FDA 510 (k) approved blood diagnostic platform, as well as
develop its proprietary immunoassay technology.
Epocal CEO Dr. Imants Lauks stated that "we are very excited to have a
strong financial partner like Highland Capital Management join our investor
group, and we are pleased to welcome Mr. Nathan Hukill of Highland Capital
Management who joins Epocal's board of directors with the closing of this
Aquilo Partners Inc., a life science investment bank, was the exclusive
placement agent for the transaction.
The EPOC(TM) System, the Company's enterprise point-of-care blood
analysis platform combines ultra-low cost, smart-card like diagnostic cards
containing biosensors and fluidics-on-flex circuits with ultra-low cost
bedside card readers. The readers communicate wirelessly to a mobile handheld
computer or PDA for immediate bedside results and to a portal on a hospital
network for centralized data management. The platform delivers lab quality
results to the bedside at a significantly lower manufacturing cost of
conventional point-of- care testing solutions. The product development
pipeline includes cards for a variety of test applications including
immunoassay biomarker tests, general chemistries, hematology and hemostasis.
About Highland Capital Management L.P.
Based in Dallas, Texas, with offices in New York and London, Highland
Capital Management, L.P. is a SEC-registered investment adviser specializing
in credit and alternative investment investing. Highland Capital currently
manages US$35 billion in leveraged loans, high yield bonds, structured
products and other assets for banks, insurance companies, pension plans,
foundations, and high net worth individuals.
For further information:
For further information: Joyce Wilson, (613) 738-6192, ext. 224,