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Apollo Endosurgery, Inc. Secures $11.5 Million in Series A Financing.
Date:10/8/2007

Company Developing Flexible Devices for Natural Orifice Surgery

AUSTIN, Texas, Oct. 8 /PRNewswire/ -- Apollo Endosurgery, Inc., an early stage company developing medical devices for minimally invasive surgical procedures conducted through natural orifices, today announced it has secured $11.5 million in Series A financing from PTV Sciences, H.I.G. Ventures, and individual investors. Proceeds from this financing will be used to complete product development and conduct human clinical trials in the U.S.

"We are very pleased to have launched Apollo with solid venture backing from PTV Sciences and H.I.G. Ventures," said Dennis L. McWilliams, Apollo Endosurgery President and CEO. "We are at the cusp of the re-definition of surgery and this financing will allow Apollo to play a critical role in the evolution of this new market"

Apollo develops disposable devices that facilitate both endolumenal and translumenal surgical procedures (also known as NOTES). In addition to avoiding the scars caused by abdominal incisions, these procedures are expected to result in less pain, require less sedation, and lead to faster recovery times for patients. Apollo's NOTES Access System(TM) allows surgeons to quickly and safely access the peritoneal cavity for both diagnostic and surgical interventions and is compatible with most currently available endoscopes.

In addition, Apollo has developed a set of robust flexible surgical tools designed specifically for natural orifice procedures. With the assistance of the Apollo Group, a world renowned flexible endoscopy "think tank," these devices are being applied to obesity, early stage cancers, and general surgical procedures.

Dr. Anthony Kalloo of Johns Hopkins Medical Center in Baltimore, an Apollo Group member widely known as one of the early pioneers of natural orifice surgery commented, "We are embarking on a new frontier in surgery. Natural orifice surgery will dramatically improve the quality of life
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SOURCE Apollo Endosurgery, Inc.
Copyright©2007 PR Newswire.
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