NUCLEA BIOTECHNOLOGIES ANNOUNCES

October 11, 2011

Pittsfield, MA – Nuclea Biotechnologies, Inc. today announced that the company has closed on an additional $6.4million in funding.  The total includes $4 million in new capital, as well as the conversion of $2.4 million in outstanding notes into preferred stock.

The new funds will be used to support the company’s regulatory efforts in the development of its Fatty Acid Synthase Assay including clinical trials, facility upgrades, new hires, and general operations, as it submits its diagnostic products to the Food & Drug Administration (FDA). 

The Pittsfield-based company is revamping its two buildings on Elm Street, and this week will complete renovations on new lab space.  Nuclea will redeploy ten positions to Pittsfield from Worcester, moving its clinical lab and gene discovery operations to the new space next to its Genomics Center on Elm Street.  

“I am very excited to be growing here in Pittsfield,” said Nuclea CEO Patrick J. Muraca.  “We have a tremendous quality of life, relatively low business costs, and a talented workforce that has taken advantage of job retraining programs.  As a hometown kid, I feel very fortunate that we are able to be successful right here in the Berkshires.”

“We really believe that the Berkshires can be a major center for the life sciences, and we are working with our partners here in Western Mass to help speed that process along,” Muraca added.  “This new funding will allow us to take the next steps in that process.”   

 

Nuclea Biotechnologies, Inc. -- is headquartered in Pittsfield, Massachusetts with additional operations in Worcester, Massachusetts. Nuclea has developed and is commercializing eleven unique diagnostic tests for colon, breast, leukemia, lung and prostate cancer. Nuclea also performs research leading to novel molecular oncology therapeutics and diagnostics for the pharmaceutical and biotechnology industries. http://www.nucleabio.com

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