Nanosys seem to be burning though cash and just closed a new $40 million round with no less than seventeen investors.
Information Week asks the right sort of question â€“ why did Nanosys for a venture capital round rather than a repeated attempt at an IPO? â€“ although a cynic may answer in order to develop a product before the next attempt.
Nanosys are a very interesting company, and are sitting on some very interesting intellectual property but the real question is â€œso what?â€ While that model may work for biotech, there is less confidence among institutions that it also applies to nanotech. Time will tell, and given the substantial amounts several funds now have locked into Nanosys with still no clear exit route, it may be a question of who blinks first.