PR94370

BOSTON, Feb. 2, 2022 /PRNewswire=KYODO JBN/ --

Automated Liquid Handling Company Earns Investment to Drive Commercial Growth

Avidien announced today a new financing round of $4M from BroadOak Capital

Partners. The investment will help Avidien expand its product roadmap, scale

commercial production, and better serve research and pharmaceutical clients.

Avidien CEO and Founder Rich Cote said, "The partnership with BroadOak is

exciting and ushers in the next phase for Avidien by creating the opportunity

to quickly scale up the business with investments in new products, sales,

marketing, and manufacturing."

Avidien's flagship product, the microPro 300, provides precision semi-automated

96 and 384 channel pipetting to hundreds of biotech, medical testing, and

research laboratories worldwide. The compact and portable liquid handling

platform has built a loyal customer base thanks to its innovative design,

intuitive interface, and industry-leading capabilities. The microPro 300 fills

gaps in automation workflows by streamlining repetitive pipetting tasks and

ensuring accurate, repeatable liquid transfers.

BroadOak Capital Partners is a life sciences focused financial institution with

a track record of supporting companies at the forefront of major industry

trends. "Aviden's affordable pipette automation platform sets a new standard

for common research methods and is at the cutting edge of laboratory automation

technology. We're proud to partner with the Avidien team to help them achieve

even greater growth," said Bryan Poltilove, Operating Partner at BroadOak

Capital Partners. Mr. Poltilove is also joining Avidien's Board of Directors to

guide the company's next phase of business expansion.

About Avidien Technologies

Avidien Technologies is a Massachusetts based company that manufactures

innovative and precision liquid handling solutions that are deployed in life

science labs around the world.

Learn more  www.avidien.com

About BroadOak Capital Partners

BroadOak Capital Partners, with headquarters in Washington, DC and San

Francisco, is a life sciences focused financial institution that provides

direct investment and investment banking services to companies in the research

tools and consumables, diagnostics, biopharma services, and adjacent markets.

BroadOak has led or participated in investments in more than 50 companies

across multiple funds and investment vehicles. For more information, visit

www.broadoak.com.

SOURCE Avidien Technologies

CONTACT: Andrew Langlois, andrew.langlois@avidien.com