Nanotech developer lands $65 million from Lurie

By Bruce Japsen
Posted Oct. 11, 2010 at 10:32 a.m.

Technology firm NanoInk, Inc. said it has received $65 million in financing from Chicago investor Ann Lurie’s Lurie Investments.

“This financing provides working capital to continue our commercial activities and support our growing sales base,” said NanoInk chief executive officer James Hussey, a long-time local developer of biotechnology. “This financing also provides an opportunity for the company to convert substantially all of our debt to equity.”

The Skokie-based firm is the parent of several nanotechnology businesses. Nanotechnology is a science that creates particles smaller than 100 nanometers, or billionths of a meter, and is used in a variety of industries, particularly in the making of pharmaceuticals.

It’s unclear what the financing from Lurie Investments brings to NanoInk’s balance sheet. The privately held NanoInk did not disclose additional financial information in a press release issued this morning.

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