ViOptix Raises $12.2 Million in Series D... ( FREMONT Calif. Jan. 10 /- ViOptix...)

ViOptix Raises $12.2 Million in Series D Financing

Date:1/10/2008

FREMONT, Calif., Jan. 10 /PRNewswire/ -- ViOptix Inc. announced today that it has raised $12.2 million in a Series D round of financing. The round was led by Channel Medical Partners, a leading venture investor in emerging growth medical technology companies. This latest round of financing brings the total amount raised by the company, since its inception in 1999, to approximately $28.7 million.

In addition to Channel Medical Partners, other investors include Lincoln Funds International and existing investors Canadian Medical Discoveries Fund and Morningside Technology Ventures Limited. In conjunction with this financing, W. Gregory Shearer, Founder and Principal of Channel Medical Partners, will join the ViOptix Board of Directors. Merriman Curhan & Ford served as financial advisors to ViOptix.

"I am pleased by the interest in ViOptix and thank our new investors, as well as current shareholders for their on-going support," said Larry C. Heaton II, President, Chief Executive Officer and Chairman of ViOptix. "ViOptix has made significant progress during the past year in commercializing its products for reconstructive microsurgery. I look forward to working closely with our investor group as we collaborate to build a strong business in tissue oximetry."

Proceeds from the financing will be used to develop and launch additional clinical applications from the core platform technology and expand the Company's presence in the microsurgery market. Funding will also support the Company's clinical trials program, in-licensing activities and international expansion.

"ViOptix' use of near infrared technology and proprietary algorithms to measure oxygen saturation in local tissue gives the clinician the opportunity to avert serious adverse clinical outcomes before symptoms are detectable by any other means," said Dr. Gerald Chan, Managing Director of Morningside Technology Advisory, LLC. Morningside is a founding and leading investor in ViOptix
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SOURCE ViOptix Inc.
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ViOptix Raises $12.2 Million in Series D...( FREMONT Calif. Jan. 10 /- ViOptix...),Health