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Sionex Corporation Closes Series B Round of Financing

WALTHAM, Mass., - November 20, 2003 - Sionex Corporation, a high technology company focused on commercializing breakthrough chemical sensor chips and systems based on its proprietary microDMx™ detection technology, today announced the completion of a $12.8 million Series "B" round of funding led by Morgenthaler Ventures with additional funding from current investors Rho Ventures and Navigator Technology Ventures.

The capital raised will be used to further develop and manufacture products as well as to expand Sionex's market penetration through establishing partnerships with major companies in homeland security, defense, environmental, diagnostics and industrial sectors. Sionex recently announced the first of these partnerships with Varian, Inc. (Nasdaq: VARI)

Morgenthaler is an established and nationally respected venture capital firm with over $2 billion under management with strengths in semiconductors & components together with expertise in enterprise IT, life sciences and broadband communications companies. "We are delighted to have the opportunity to invest in Sionex with their truly disruptive technology," said Paul Levine, general partner of Morgenthaler Ventures. "We believe the company is poised to change the paradigm of chemical and biological detection." Levine will be joining the Sionex board of directors.

"We are extremely pleased to have Morgenthaler Ventures join our existing investors Rho Ventures, Navigator Technology Ventures and TechFarm Ventures as the lead investor in our Series B funding round," said Lawrence A. Kaufman, Sionex president and CEO. "Their extensive expertise, coupled with their global leadership, will be tremendous assets to Sionex as we grow our company."

About Morgenthaler Ventures
Morgenthaler, founded in 1968, is a leading national venture capital and management buyout firm. It has funded more than 200 companies since its inception, including two of the last decade's highest-performing IPOs: Microchip Technology (1993) and Premisys Communications (1995). The firm has a total of $2 billion under management. Its venture capital practice is headquartered at 2710 Sand Hill Road, Suite 100, Menlo Park, CA, 94025. More information can be found at www.morgenthaler.com.

About Rho Ventures
Rho Ventures is a New York-based venture capital firm with extensive investments in the technology, healthcare and electronic information sectors. Since it was founded in 1981, the firm has invested in numerous companies including Active Power, Capstone Turbine, Ciena, Commerce One, Compaq Computer, Copper Mountain, Diversa, Human Genome Sciences, MedImmune and Vicuron. Aggregate venture capital under management exceeds $1 billion. Additional information can be found at www.rho.com.

About Navigator Technology Ventures
Navigator Technology Ventures based in Cambridge, Massachusetts specializes in funding support for early-stage companies with innovative technologies in electronics, biotech, IT, and wireless. The firm takes an active role in helping its portfolio companies bring their technology to market. Additional information can be found at www.ntven.com.

About Sionex Corporation
Sionex Corporation is a high technology company focused on commercializing breakthrough chemical and biological sensor chips and systems based on its proprietary microDMx™ detection technology. Sionex maintains its worldwide headquarters and laboratories in Waltham, Massachusetts, close to Boston with its commercial, technology and communications infrastructure. The Company is privately held and was founded in 2001 with patented technology exclusively licensed from The Charles Stark Draper Laboratory. Additional information about Sionex Corporation is available at www.sionex.com.

microDMx™ is a US trademark of Sionex Corporation.

EDITORIAL CONTACTS:

Eric Kirleis, Sionex Corporation
(781) 457-5416
ekirleis@sionex.com

Agency Contact:
Doug Forsyth, Alchymia Communications for Sionex
+1 (541) 482-8744
df@alchymiacomm.com

Forward-looking Statement
Some statements in this announcement constitute forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Sionex Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that the forward-looking statements included in this announcement will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of this information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.

 
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Our Vision: Sionex Corporation will be the world leader in developing & manufacturing miniaturized chemical & biological detection devices employed in a variety of commercial, military, control & consumer products.