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NanoInk Funding Reaches $6 Million
Jan 2003
CHICAGO, Jan. 15 -- NanoInk Inc., a Chicago-based nanotechnology company, announced it has closed a $6 million second round of financing led by Lurie Investment Fund LLC. NanoInk will use the funding to build its management team, broaden its development efforts and accelerate the delivery of its DPNWriter, scheduled for release in the first quarter of this year.

NanoInk's Dip Pen Nanolithography (DPN) technique is a pattern-making process that was initially developed using the invisibly small tip of an atomic force microscope. Functioning much like a quill pen, this microscopic tip is coated in molecules, such as DNA. The molecules are then deposited onto a surface (including silicon, gold and glass) to create nanometer scale structures. The process was developed by NanoInk cofounder Chad Mirkin, director of the Institute for Nanotechnology at Northwestern University.

NanoInk's current product, DPN System 1, enables the building of structures as small as 10 nanometers. Its "single pen" capability and compatibility with conventional atomic force microscopes make it a valuable research and development tool, the company said.

"Development of the DPNWriter will represent a huge step forward for nanofabrication by increasing the power of the DPN process as a research tool and enabling the DPN process to become a true industrial tool," said NanoInk CEO Chris Anzalone.

NanoInk said the round will also allow it to continue tailoring the DPN process to various industrial applications, such as the semiconductor and life sciences industries.

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