Lynx Therapeutics, Inc. (Nasdaq: LYNX) announced today it has completed a $4 million private financing of common stock and warrants for common stock. The financing included the sale of 788,235 newly issued shares of common stock at $5.10 per share and the issuance of warrants to purchase 181,295 shares of common stock at an exercise price of $6.25 per share.

The private placement was made to certain independent institutional investors. Lynx will file with the U.S. Securities and Exchange Commission a resale registration statement relating to the common stock to be issued in the transaction and the shares to be issued upon the exercise of the warrants. "This financing is expected to further support our efforts to broaden the use of our Massively Parallel Signature Sequencing, or MPSS™, technology, and allow us to continue the pursuit of important technical improvements," said Kevin P. Corcoran, Lynx's President and Chief Executive Officer.

Lynx is a leader in the development and application of novel genomics analysis solutions that provide comprehensive and quantitative digital gene expression information important to modern systems biology research in the pharmaceutical, biotechnology and agricultural industries. These solutions are based on MegacloneÔ and MPSSÔ, Lynx's unique and proprietary cloning and sequencing technologies.