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OmniGuide(R) Secures $25 Million in Funding to Support Continued Growth and New Market Penetration
Date:5/15/2008

CAMBRIDGE, Mass., May 15 /PRNewswire/ -- OmniGuide, Inc., the developer of the first and only flexible CO2 laser scalpel enabling new procedures in minimally invasive surgery, today announced the closing of a $25 million series E private equity round. Psilos Group, a healthcare venture capital and private equity firm, led the funding round which includes previous OmniGuide investors: Ray Stata, Stata Venture Partners, 3i, Argonaut Ventures, ESI, Gainesborough Investments, Jeff Swartz and Westbury Partners. Thomas Weisel Partners served as advisor and placement agent for OmniGuide.

OmniGuide's BeamPath(TM) CO2 laser fibers are the most precise optical scalpels available. Since commercially launching in late-2006, OmniGuide optical scalpels have been rapidly adopted for use in minimally invasive surgeries in the U.S. and recently in Europe. To date, OmniGuide scalpels have been used successfully in more than 3,000 surgeries for treatment of head and neck cancers, for removal of life-threatening airway papillomas in adults and children, and for hearing restoration surgeries. OmniGuide distributes its disposable scalpels through a nationwide direct sales group.

"CO2 laser light offers unique precision, safety and cost benefits to minimally invasive surgeries. Our fibers deliver, for the first time, this medically advantageous light to areas in the body that could not have been reached previously," said Yoel Fink, president and CEO of OmniGuide. "OmniGuide's BeamPath fibers are enabling superior healthcare in more than 200 hospitals nationwide and are now available in Europe. Today's investment will help fuel OmniGuide's expansion into additional clinical markets such as otology, spinal surgery, neurosurgery, gastroenterology and gynecology."

"OmniGuide is an extremely promising medical device company and we believe that the value created by its products is highly aligned with our firm's investment philosophy," said Lisa M. Suennen, co-founder
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SOURCE OmniGuide, Inc.
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