London, UK 4/5/11; London, UK 4/11/11—Microsaic Systems has raised £4.0 million ($6.5 million = £0.62 = $1) through an institutional placing in connection with its public listing on the London Stock Exchange’s AIM Market on April 11. Microsaic is the developer of the Microsaic 3500 MID, a chip-based MS system. The company placed 12.5 million new shares with institutional investors at a price of 32 pence ($0.52) per share. “I am very proud of the progress that our team at Microsaic has made over the past ten years. We have developed a first-to-market position with our novel chip-based mass spectrometer detectors, which we believe will enable us to exploit a large market opportunity across multiple sectors,” said Microsaic Chief Executive Alan Finlay. The company estimated that it has a market capitalization of £12 million ($19.4 million) following its listing.