Ben R. Bronstein, M.D., of Zero Stage Capital Appointed to Board of Directors

Woburn, MA, January 29, 2004—BioTrove, Inc. today announced that the company has successfully raised $10.9 million in venture capital funding. The investors supporting the financing include Catalyst Health and Technology Partners, CB Health Ventures, Zero Stage Capital and BioFrontier Partners. The funds will be used to continue the development and commercialization of the Company’s micro- and nano-scale products and services, the Living Chip™ and Momentum™ Assay Development and Screening.

“In 2003, BioTrove made significant strides towards developing enabling tools for genomics and proteomics,” said Joshua Phillips, Managing Director at Catalyst Health and Technology Partners and a member of BioTrove’s Board of Directors. “This progress, along with the appointment of Robert Ellis as President and CEO, has set the groundwork for the initial commercialization of BioTrove’s core genomics and proteomics tools.”

The Living Chip is a broadly applicable nano-liter fluidics technology platform for massively parallel and low-volume analysis of genetic, genomic, proteomic, biochemical and cellular samples. The platform uniquely combines the parallelism of microarrays with the data quality of PCR to perform genetic and genomic assays, including genotyping and RNA expression analysis.

Momentum Assay Development and Screening is a patent-protected, ultra high-throughput mass spectrometry service that enables microliter-scale functional assay development and screening of challenging targets with promising biology that are generally not pursued. In the interest of accelerating discovery, companies often choose to forego many highly promising targets, because of the complexity in developing screening assays around such targets. Momentum dissolves this bottleneck, transforming the drug discovery process by providing assay development and screening for these targets.

“This financing will support the development and initial commercialization of our technologies. We have already begun to commercialize Momentum and plan to launch the first application of the Living Chip in the coming months,” said Robert H. Ellis, President and CEO of BioTrove.

Concurrent with the financing, BioTrove has appointed Ben R. Bronstein, M.D., Managing Director at Zero Stage Capital, to the Company’s Board of Directors. At Zero Stage, Dr. Bronstein is responsible for the firm’s life sciences investments and works closely with portfolio companies through all stages of development. He has held senior executive positions with various biotechnology companies, including interim CEO for Spherics, Inc., co-founder, President and CEO of Peptimmune, Inc. and Vice President of Medical Affairs and Medical Director of BioSurface Technology, Inc., which was acquired by Genzyme Corporation shortly after its initial public offering. In addition to serving as a director on the boards of privately held life sciences companies, Dr. Bronstein is a board member of Rhode Island’s Slater Center for Biomedical Technology. He began his career on the staff of the Massachusetts General Hospital and was on the faculty of Harvard Medical School. Dr. Bronstein holds an AB in biology (magna cum laude), an MD and an MBA (with high honors), all from Boston University.

Mr. Ellis added, “Dr. Bronstein brings a wealth of biotechnology and life sciences experience to BioTrove. We look forward to his guidance as we advance the development of our technologies and begin commercializing our first products.”

About BioTrove

BioTrove, Inc. is a privately held biotechnology company focused on leveraging revolutionary micro- and nano-scale engineering solutions to overcome current bottlenecks in pharmaceutical drug discovery and biotechnology. BioTrove has two core platforms: the Living Chip™, which is a broadly applicable nano-liter fluidics technology platform for massively parallel and low-volume analysis of genetic, genomic, proteomic, biochemical and cellular samples and Momentum™ Assay Development and Screening technology, which is a patent-protected, ultra high-throughput mass spectrometry service that enables microliter-scale functional assay development and screening of challenging targets with promising biology that are generally not pursued.

For more information contact:

Robert Ellis or Dr. Colin Brenan
President and Chief Executive Officer
BioTrove, Inc.
info@biotrove.com
(781) 721-3608

Barbara Askjaer or Shannon Altimari
Feinstein Kean Healthcare
shannon.altimari@fkhealth.com
(617) 577-8110