Woburn, MA (May 7, 2003) – U.S. Genomics, a privately held developer of single molecule analysis technologies for the life sciences industry, announced today that it has raised $25 million. Fidelity Biosciences Group led the investment and was joined by new investors Zero Stage Capital and China Development Industrial Bank and existing investors HealthCare Ventures, CB Health Ventures.

“We are thrilled to complete this funding and to begin commercialization of our first set of single molecule detection products for RNA analysis,” said Stephen P. DeFalco, Chairman and CEO of U.S. Genomics.

The Company also announced that Mark A. Peterson, President of Fidelity Biosciences Group, a division of Fidelity Investments® that invests private equity in the biosciences industry, and Dr. Ben Bronstein, Managing Director of Zero Stage Capital, have been named to the Board of Directors. Mr. Peterson is a 15-year Fidelity veteran who has had overall management responsibility for a variety of business units and has managed the Fidelity Biosciences Group since 2001. Dr. Bronstein has over a decade of experience as an executive in early stage life science companies and currently is responsible for life science investments at Zero Stage Capital. Jason P. Rhodes, a principal with Fidelity Biosciences Group, will also become a formal board observer.

“With U.S. Genomics’ GeneEngine™ technology, we believe the company is well positioned to change the way scientists analyze and quantitate DNA, RNA and protein molecules,” said Mark Peterson of Fidelity Biosciences. “This current round of financing validates U.S. Genomics’ business strategy. We look forward to working with the U.S. Genomics team as they continue to build a successful commercial life sciences company.”

The U.S. Genomics GeneEngine platform allows single molecule detection and analysis of DNA, RNA and proteins without amplification. The direct detection and analysis of individual molecules has the capability to accelerate a researcher’s ability to develop new drugs and diagnostics. The company is pursuing two application families based on the technology platform. The first of the applications will be introduced for functional genomics and proteomics. Subsequent development of the current platform will enable large scale genome mapping.

About U.S. Genomics, Inc.
U.S. Genomics is a leading developer of technologies that allow genetics, functional genomics, and protein analysis to be performed at the single molecule level. The company’s GeneEngine™ technology platform can analyze individual molecules of DNA, RNA, and proteins without the need for amplification and combines advances in nanofluidics, optical engineering, and novel labeling strategies. The technology has life sciences applications in the areas of research, drug discovery and development, and diagnostics, and longer term it will provide a platform to enable personal genomics. Founded in 1997, U.S. Genomics is located in Woburn, Massachusetts. For more information, please visit www.usgenomics.com.