Harris & Harris Group Announces New Investment in AgBiome
NEW YORK, April 11, 2013 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc.
(Nasdaq:TINY), an early-stage, active investor in transformative companies, is
pleased to announce its investment in AgBiome, LLC, as part of a $14.5 million
Series A financing. The funds will further advance the company's research and
development programs and support the launch of its first products.Polaris
Partners led the round and was joined by ARCH Venture Partners, Harris &
Harris Group, Innotech Advisers and additional strategic investors. AgBiome's
press release may be viewed at
"AgBiome is using life science tools and technologies to interrogate the plant
microbiome and to provide unique agricultural solutions," said Douglas W.
Jamison, Chief Executive Officer of Harris & Harris Group. "We are excited to
join the AgBiome team in this new start-up."
"Over the last year, we have evaluated the challenges in the agricultural
space and believe that AgBiome is uniquely positioned to aid in addressing
global food security issues over the coming decades," said Dr. Misti Ushio,
Managing Director of Harris & Harris Group, who has joined the AgBiome Board
AgBiome is a privately held, product-oriented biotechnology company focused on
delivering the best early-stage research and discovery to the agriculture
industry. AgBiome's first product is a biological that controls the
predominant soil-borne diseases of greenhouse and major row crops. AgBiome is
also applying state-of-the-art genomics and screening technologies to identify
plant-associated microbes that enhance plant health, pest resistance and
Detailed information about Harris & Harris Group and its holdings can be found
on its website at www.HHVC.com and on Facebook at www.facebook.com.
This press release may contain statements of a forward-looking nature relating
to future events. These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. These statements
reflect the Company's current beliefs, and a number of important factors could
cause actual results to differ materially from those expressed in this press
release. Please see the Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 2012, as well as subsequent filings, filed with the
Securities and Exchange Commission for a more detailed discussion of the risks
and uncertainties associated with the Company's business, including, but not
limited to, the risks and uncertainties associated with venture capital
investing and other significant factors that could affect the Company's actual
results. Except as otherwise required by Federal securities laws, the Company
undertakes no obligation to update or revise these forward-looking statements
to reflect new events or uncertainties. The references to the websites
www.HHVC.com, Facebook.com and www.tmcnet.com have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release.Harris & Harris Group is
not responsible for the contents of third party websites.
CONTACT: DOUGLAS W. JAMISON
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