Harris & Harris Group, Inc., announced today that it has invested an additional $364,261 in the first close of a $6 million Series B investment in Chlorogen, Inc. The Series B financing included a new investor, Finistere Partners, along with existing investors, Burrill & Co., Prolog Ventures, Redmont Venture Partners and Harris & Harris Group. Chlorogen produces therapeutic proteins in tobacco plants using chloroplast transformation technology, a technology that enables plant chloroplast to become protein production factories. Chlorogen will use the Series B investment to finance the development of its lead product candidates, which include protein-based therapies for gynecological cancers.
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 26 initial private equity investments have been in tiny technology-enabled companies.
Detailed information about Harris & Harris Group, Inc. and its holdings can be found on its website at http://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 Annual Report on Form 10-K 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.