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Continuum raises additional $17.5 million in Series C

Billerica, Massachusetts, April 8, 2004--Continuum Photonics, a developer of optical switches for the optical automation systems and telecommunications markets, closed an additional round of more than $17.5 million in its Series C financing.

A new investor, JK&B Capital, led the oversubscribed round, with significant participation from additional new investor, Boston Millennia Partners. Prior investors Prism Venture Partners, Flagship Ventures, Harris & Harris Group, Gainesborough LLC, and private individuals also participated in the round. With the completion of this latest financing, Al DaValle, Partner of JK&B Capital, has joined Continuum's Board of Directors.

"Continuum has made significant progress in serving our growing base of world-class customers," said Jeffrey Farmer, CEO of Continuum. "This round allows us to move aggressively in providing the products that our customers are demanding. Given the general market conditions that exist today, the financing is a very strong validation of our unique team and technology."

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