COLUMBIA, Md. and NASHUA, N.H. -- Paratek, a leading developer of electronically tunable miniaturized 3D RF devices, announced today that it has completed a Series C financing of $15 million. Previous venture capital investors in the company-- Polaris Venture Partners, Morgenthaler Ventures, Novak Biddle Venture Partners, Investor Growth, and ABS Ventures--all participated.

We view this financing by all our existing investors as a strong vote of confidence in Paratek's progress to date and in its future," said James DiLorenzo, Paratek's CEO. "Our electronically tunable products have been well received in the marketplace and, working in partnership with several major industry players, we will release a new generation of even more capable products later this year." Paratek's electronically tunable devices provide frequency agility, improve communication link margin and reduce power consumption for commercial cellular, military and public safety mobile wireless handsets.

Just as the market for handheld communications is demanding far greater flexibility and functionality in its devices, Paratek's proprietary approach to tunability is emerging as the clear solution," said Robert Metcalfe, chairman of the Paratek board of directors and a general partner at Polaris Ventures. "Both we and leading industry participants believe Paratek will fill a key unmet need in providing the wireless market with next generation tunable RF components. At the same time, Jim DiLorenzo has built a management and technical team that is both strong and experienced enough to take advantage of this significant opportunity."

Paratek Microwave Inc.