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Ascension Orthopedics Closes $21 Million Financing and Recruits an Orthopedics Industry Veteran as CEO
Date:1/21/2008

rowing Symmetry's annual revenues from approximately $10MM to over $260MM. "I am very excited to have joined Ascension Orthopedics and to have the opportunity to work with the existing management team and board of directors. Ascension is uniquely positioned for significant growth in the orthopedics extremities marketplace," said Mr. Miclot.

"I am extremely pleased Frazier Healthcare Ventures has the confidence in Ascension to provide this important round of equity financing that will enable us to expand further on the key cornerstones of our business -- product innovation and marketing," said Jerome Klawitter, PhD. Founder, Chief Scientific Officer and former CEO. "I look forward to turning over my CEO duties to Mr. Miclot and working with him to leverage our respective backgrounds in product innovation and product marketing."

About Ascension Orthopedics, Inc.

Ascension Orthopedics began product development in Austin, Texas in 1996 and in 2001 received FDA PMA approval for its first product, an innovative pyrolytic carbon total joint replacement for the MCP (Knuckle) joint of the hand. The company has since increased its joint replacement product line to include implants for the shoulder, elbow, wrist, fingers and toes. In addition to joint replacements, Ascension Orthopedics offers trauma products to treat bone fractures occurring in the hand and arm as well as the foot and ankle. Ascension also markets tissue regeneration products for the upper and lower extremities, including implants that help reconnect severed nerves and implants intended to reduce adverse tissue adhesions that often occur following surgical procedures. Ascension Orthopedics sells product in the United States and in more than 20 foreign countries worldwide.

About Frazier Healthcare

Founded in 1991 and with more than $1.8 billion of capital under management, Frazier Healthcare is one of the nation's leading providers of venture and growth equity capital to emer
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SOURCE Ascension Orthopedics, Inc.
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