Advanced Silicon Group Closes Seed Preferred Equity Offering and Adds Alan Watson and Sarah Kelly to Board
Advanced Silicon Group, Inc. (ASG), a pioneer in silicon nanotechnology focused on developing novel biosensors, announced today the closing of a $1,020,000 seed preferred stock offering led by Cherrystone Angel Group with participation by MIT Alumni Angels of Northern California, Sidecar Angels and other private investors and the addition of two new Directors, Alan Watson, PhD, MBA and Sarah Kelly, PhD to its Board of Directors.
“We are very pleased to have accomplished this important funding milestone, and gratified by the extremely high level of investor interest in ASG’s proprietary silicon-based biosensor technology,” stated Dr. Marcie Black, CEO of ASG. “We are now well positioned to move forward with our plans to complete development of our first biosensor product offering, targeting a new approach to in-process ELISA testing in the biopharma industry and begin initial testing with commercial customers.”
As part of the financing, ASG named two new Directors, Alan Watson, PhD, MBA and Sarah Kelly, PhD to its Board of Directors. “Alan and Sarah both bring extensive experience in the biopharmaceutical industry and we look forward to having them as part of our team,” said Dr. Black.
About Advanced Silicon Group, Inc.
Advanced Silicon Group, Inc., based in Lowell, MA, is a company dedicated to developing and commercializing novel biosensors based on its patented silicon nanowire technology. ASG owns patents and exclusive licenses to the core technology for making inexpensive nanostructures on silicon and its wide-ranging application in a variety of biomedical fields.
Co-founder and Chief Marketing and Sales Officer