COLUMBIA, SC–Collexis (OTCBB:CLXS), a developer of high definition search and discovery software, has raised gross proceeds of $2.7 million through the private placement of 3.6 million shares of restricted common stock to institutional and other accredited investors at 75 cents a share.
William Kirkland, Collexis CEO said, “This financing will allow us to expand our core platforms, launch our social networking community, make selected strategic acquisitions and for working capital purposes.”
Over the past few months, Collexis has added a number of high-profile institutions such as the Mayo Clinic and the California Institute for Biosciences to its client base.
Collexis also completed the acquisition of its long time development partner, SyynX Solutions GmbH, and announced the pending launch of the world’s first pre-populated professional social network for life science researchers, called Biomedexperts.com at the 2007 Frankfurt Bookfair.
Collexis proprietary technology builds conceptual profiles of text, called Fingerprints, from documents, Web sites, e-mails and other digitized content and matches them with a comprehensive list of pre-defined “fingerprinted” concepts to make research results more relevant and efficient.
This matching of concepts eliminates the ambiguity and lack of priority associated with word searches. The results are often described as “finding needles in many haystacks.”
Through this novel approach, Collexis can build unique applications to search, index and aggregate information as well as prioritize, trend and predict data based on sources in multiple industries without the limitations of language or dialect.
The company’s current clients include Mayo Clinic; Johns Hopkins University; University of California, San Francisco; University of South Carolina; Erasmus University Library; Merck & Co.; Bristol-Myers Squibb; Lockheed Martin; the World Health Organization; Wellcome Trust; the National Institutes of Health; and the U.S. Department of Defense.
On the Web: www.collexis.com
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