The Foundry Announces New Partners and Completion of Series A Financing for Eleven...(Corporate Affairsand General Counsel sin...),Health

Date:1/28/2009

Corporate Affairs and General Counsel since 2003. Prior to that, Mr. Grainger was the Founder, Chief Strategy Officer, and member of the Board of Directors of First to File, Inc., a developer of software and services for automating patent process workflow which was acquired by Mark Monitor. From 1993-2000, Mr. Grainger served as Chief Patent Counsel of Heartport, Inc., a developer of devices for minimally-invasive heart surgery which was acquired by Johnson & Johnson. From 1991-1993, Mr. Grainger was an attorney at the law firm of Townsend & Townsend & Crew. Prior to entering law school, Mr. Grainger worked as a Robotics Engineer at Boeing Electronics Company. Mr. Grainger holds a Juris Doctor degree with Honors from the University of Washington and a BS in Mechanical Engineering from Stanford University.

"We are extremely pleased to add Erik and Jeff to The Foundry team," said Mr. Gifford. "With the closing of this financing and our enhanced team, we are poised to break exciting new ground with our eleventh company." Foundry Newco XI is currently not disclosing its product or market plans. The $5 M Series A financing will provide the resources to continue inventing, developing and commercializing breakthrough solutions to major unmet medical needs. Split Rock Partners and Morgenthaler Ventures co-led the Series A financing. Allan Will, founding Managing Director of Split Rock Venture Partners, will continue as chairman of The Foundry, and Hank Plain, Partner of Morgenthaler Ventures, will continue to serve as Vice Chairman.

About The Foundry

The Foundry was co-founded in 1998 by Allan Will and Hanson Gifford, to rapidly turn the best concepts into successful new medical device companies. In addition to inventing new technologies itself, The Foundry works closely with outside clinicians and inventors with promising ideas. Over the past ten years, The Foundry h
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SOURCE Split Rock Partners Copyright©2009 PR Newswire. All rights reserved

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