NeoMatrix Announces Additional Funding for Breakthrough Breast Cancer Scre...( Pharmaceutical Industry Veteran Ric...)

Pharmaceutical Industry Veteran Richard Franco and Entrepreneur Anthony

Ciabattoni Join NeoMatrix Board of Directors

IRVINE, Calif., Sept. 5 /PRNewswire/ -- NeoMatrix, developer of the HALO(TM) Breast Pap Test, the first automatic, noninvasive test designed to identify breast cancer risk, announced today that the company has closed a Series C round of equity financing. The financing will enable an expanded market release of the HALO System, which is designed to test asymptomatic women for the presence of atypical ductal hyperplasia (ADH), a known biomarker that can be a precursor to breast cancer. ADH is often found in the breast years earlier than a lesion might be found on a mammogram or a self exam, facilitating early follow-up and treatment or chemoprevention measures.

"We appreciate the continued support of our investors as we've surpassed more than 30 placements in Ob-Gyn and primary care offices around the country," said Paul J. Fitzpatrick, chief executive officer of NeoMatrix. "This fundraising has enabled us to hire our first sales representatives, expand our marketing team and to develop the infrastructure and marketing programs required to drive awareness and adoption of the HALO system. It also allowed us to convert or retire 100% of the debt previously used to finance the research and development of both the HALO system and its broad patent protection.

"In addition to our initial success in placing systems in physician offices, we have also recently established relationships with a number of breast specialists and breast centers who have agreed to help introduce HALO to their local primary-care referral networks. Although gynecologists and other primary care physicians are responsible for breast cancer screening of well, or asymptomatic women, breast specialists, often practicing in multi-specialty breast centers, assume responsibility for follow-up and treatment of high-risk patients," added Fitzpatrick.