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Harris & Harris Group Portfolio Company, AgBiome, Secures $34.5 Million Series B Financing Led By Bill and Melinda Gates Foundation

NEW YORK, Aug. 20, 2015 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (NASDAQ:TINY), an investor in transformative companies enabled by disruptive science, notes that its portfolio company, AgBiome, a leading agricultural research firm, has raised $34.5 million in a Series B round of financing. Harris & Harris Group participated in the financing led by the Bill and Melinda Gates Foundation (“BMGF”). The funds raised will be used to advance AgBiome’s research and development programs as well as support the launch of its first products. AgBiome will also work closely with BMGF to use its technology and products to help the poorest farmers world-wide.

“We continue to be impressed with AgBiome’s progress and view this financing as an important step in the company’s growth,” says Misti Ushio Ph.D., Managing Director and Chief Strategy Officer at Harris & Harris Group. “This financing coupled with the recent announcement of a collaboration with Genective to create novel insect-resistant crops support our continued belief that AgBiome, among a number of other companies in our current portfolio, could be a driver of potential future growth for Harris & Harris Group.”

AgBiome's press release can be viewed at http://www.prnewswire.com/news-releases/agbiome-secures-345-million-series-b-financing-300130936.html.

About Harris & Harris Group

Harris & Harris Group is a publicly traded venture capital firm that is also a business development company. Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com, on Facebook at www.facebook.com/harrisharrisvc and by following on Twitter @harrisandharrisgroup.

This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2014, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including, but not limited to, the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The references to the websites www.HHVC.com and www.Facebook.com have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Harris & Harris Group is not responsible for the contents of third party websites.

Press Contact: Alexandra Spurgeon, Account Executive Gregory FCA Alexandra@GregoryFCA.com 610-228-2140

Source:Harris & Harris Group