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PEAK Surgical, Inc. Closes $21 Million Series C Financing
Date:2/4/2008

- Joyce Erony Joins Board of Directors -

PALO ALTO, Calif., Feb. 4 /PRNewswire/ -- PEAK Surgical, Inc., a medical device company that is developing a new category of tissue dissection systems based on a proprietary technology, today announced that it has raised $21 million in a Series C financing led by new investor Signet Healthcare Partners. The company also announced that Joyce Erony, managing director of Signet Healthcare Associates, has joined PEAK Surgical's board of directors. Existing investors Lehman Brothers and Venrock Associates also participated in this financing round.

"The size, valuation and timing of this financing validates the progress we have made in advancing our pulsed plasma technology and developing our flagship product, the PEAK Surgery System," said John Tighe, president and chief executive officer of PEAK Surgical. "This financing allows us to aggressively pursue the development plan and commercialization efforts for our PEAK Surgery System, which we believe represents a quantum leap over surgical instruments in use today and will revolutionize the way surgery is performed. We believe it may have applications in more than 2 million surgical procedures."

The PEAK(TM) Surgery System includes the PEAK PlasmaBlade(TM), a disposable cutting tool that offers the exacting control of a scalpel and the bleeding control of traditional electrosurgery without the extensive collateral damage. PEAK Surgical has filed a pre-market notification (510k) with the U.S. Food and Drug Administration (FDA) for the PEAK Surgery System. The company also has started setting up manufacturing for the PEAK PlasmaBlade and is establishing a national sales force to distribute the device once the 510k has been cleared by the FDA.

"PEAK Surgical has the financial foundation, management team and technology platform in place to ensure rapid development of its next-generation tissue dissection system," Erony said. "We believe
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SOURCE PEAK Surgical, Inc.
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