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NEW YORK, Jun 04, 2007 (BUSINESS WIRE) -- Harris & Harris Group, Inc., announced today that it has invested in Ancora Pharmaceuticals Inc., based in Medford, Massachusetts. Douglas W. Jamison, President and COO of Harris & Harris Group, has joined Ancora's Board of Directors.
Ancora Pharmaceuticals Inc. is dedicated to enabling synthetic carbohydrate-based product discovery and development utilizing its state-of-the-art carbohydrate synthesis capability, which is based on technology originally developed at the Massachusetts Institute of Technology (M.I.T.). The company is applying its synthesis technology both to internal drug development programs and strategic collaborations within the pharmaceutical and biotechnology sector.
Harris & Harris Group is a publicly traded venture capital company that makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems (MEMS). The Company's last 33 initial private equity investments have been in tiny technology-enabled companies. The Company has 21,783,444 shares of common stock outstanding.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.TinyTechVC.com.
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Registration Statement on Form N-2 and Annual Report on Form 10-K for the year ended December 31, 2006, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, Harris & Harris Group, Inc., undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference to the website www.TinyTechVC.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
SOURCE: Harris & Harris Group, Inc.
Harris & Harris Group, Inc. Douglas W. Jamison, 212-582-0900
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