Amphion Innovations Partner Company Durham Scientific Crystals Closes £1.6m Round Financing
9 February 2007, London, UK - Amphion Innovations plc today announces that its Partner Company, Durham Scientific Crystals Ltd. (DSC), a Durham University spin-out developing state-of-the-art semiconductor materials for the medical imaging and security imaging markets, has raised a further £684,000 at £2 per share for the second close of a larger Series F financing which was first announced on 7 November 2006 and which has raised £1.6m in total. Amphion now owns 25.3% of Durham Scientific Crystals which is now valued at £9m post money.
DSC has developed a breakthrough technology that is significant in the transition from analogue to digital x-ray imaging. The Company has commercialised the use of materials based on cadmium telluride, the premier choice for use as digital detectors of x-rays and gamma rays, and will allow for significantly improved imaging in markets such as airport security and medical imaging.
The capital raised in this latest round of financing will support continued product and development, staffing and marketing activities.
Richard C.E. Morgan, Chief Executive Officer of Amphion, said:
“This further fundraising is testament to the continued investor support and interest that we have in DSC. The company has progressed extremely well over the last year, and the funds raised will help DSC to continue to develop its IP and product portfolio.”
For further information please contact
Amphion Innovations plc
Josh Berkman, Media Relations
+1 (646) 747 7158
Financial Dynamics
John Gilbert
+44 207 269 7169
About Durham Scientific Crystals, Ltd.
Durham Scientific Crystals (DSC) was spun-out from the Physics Department of the University of Durham in 2003. DSC is developing next-generation proprietary products and processes based around key semiconductor optoelectronic materials for use in digital x-ray detection for both medical and security applications in rapidly growing international markets.
DSC is located in Sedgefield, County Durham. Its technological expertise was founded on the results of over three decades of semiconductor research in the world class Physics Department of Durham University.
On the web: www.dscrystals.co.uk
About Amphion Innovations plc
Amphion Innovations plc is listed on the AIM Exchange in London under the symbol AMP. Amphion's business is the formation, financing, management and development of life sciences and technology companies, working in partnership with corporations, governments, universities and entrepreneurs seeking to commercialize their intellectual property.
On the web: www.amphionplc.com
