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Home > News & Insight > PCEPII Closes $1.1 Million Follow-on Investment in Ikonisys, Inc.


PCEPII Closes $1.1 Million Follow-on Investment in Ikonisys, Inc.

Sunday, September 30, 2007

In September 2007, Palisade Concentrated Equity Partnership II, LP ("PCEPII"), a $140 million private equity fund managed by Palisade Capital Management, LLC, converted a $750,000 bridge note dated June 18, 2007 and invested an additional $350,000 in Ikonisys, Inc. ("Ikonisys") as part of a $30.0 million financing round led by a fund controlled by certain Goldman Sachs partners, bringing PCEPII's total investment in Ikonisys to $6.1 million. Since PCEPII's initial investment in Ikonisys in August 2006, Ikonisys has made substantial progress in its development of cell-based diagnostic products for women's health and oncology. The additional capital will enable Ikonisys to fulfill upcoming clinical milestones and further the development and launch of new proprietary tests within its oncoFISH and fastFISH product lines for the diagnosis and management of cancer and for women's health applications.

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