Friday, January 20, 2006

CardioOptics Completes $26.5M Series B

CardioOptics, Inc., a medical device company developing and commercializing unique therapeutic catheter systems that allow doctors to see directly through flowing blood and inside the heart as they treat cardiovascular disease, has completed a $26.5 million Series B financing. The round was led by new investor Novo A/S and joined by Investor Growth Capital, Inc., The Hillman Company, and Rockport Venture Partners, who are also new investors in the Company. Existing investors Cardinal Partners, Sequel Venture Partners and Primus Venture Partners all participated. As part of this financing, Jack B. Nielsen from Novo A/S and Stephen M. Campe from Investor Growth Capital have joined CardioOptics' Board of Directors.

Proceeds will be used primarily to commercialize CardioOptics' first product, the FDA-approved Coronary Sinus Access System™ designed for vision-guided implantation of cardiac resynchronization therapy pacemakers to treat heart failure, and to complete development of the Company's novel therapeutic catheter ablation system to treat atrial fibrillation. Both products incorporate the Company's proprietary infrared fiberoptic Trans-Blood Vision™ technology.

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