Navigation Links
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.

"ViOptix is positioned well for growth with its platform technology which lends itself to the development of numerous products with multiple pathways for commercialization. We look forward to working with the Company at this exciting time," commented Gregory Shearer, Principal and Founder of Channel Medical Partners.

Dr. Michael Cross, Senior Vice President for Jove Investment Management, a major investor in ViOptix Inc. through its Canadian Medical Discoveries Fund, remarked, "Tissue oximetry technology has broad applications in healthcare, but we are still in the early stages of applying the technology to the many potential clinical indications. ViOptix is well along its way to commercial success with its initial application of tissue oximetry technology for reconstructive microsurgery, and has many additional opportunities for new clinical applications to bring to market."

About ViOptix Inc.

ViOptix Inc. develops, manufactures and markets innovative proprietary products for tissue oximetry, measuring oxygen saturation levels in tissues. The Company's products and products under development consist of near infrared generators and single-use disposable sensor devices. Its first product, the ODISsey System, received U.S. Food and Drug Administration clearance in January 2005 for the measurement of localized tissue oxygenation levels for critical care applications. For more information on the Company or its products, visit the Company's website at http://www.vioptix.com.

About Canadian Medical Discoveries Funds

The Canadian Medical Discoveries Funds (CMDF) is a labour-sponsored venture capital investment fund (LSIF). Established in 1994, CMDF is Canada's most mature health sciences LSIF specifically targeting biotechnology, pharmaceuticals, diagnostics, medical devices and imaging products and other special life sciences opportunities. Together the funds have approximately $200 million in managed assets and have venture capital investments in more than 30 companies involved in health sciences, biotechnology, diagnostics, medical devices, drug discovery and development, health care delivery services and e-health. CMDF offers investors long-term performance potential, 100% RRSP-eligibility and, through its labour-sponsored investment fund structure, eligibility for substantial tax credits. For further information, please contact Canadian Medical Discoveries Fund at (416) 601-2435, or contact via e-mail at info@cmdf.com.

About Channel Medical Partners

Channel Medical Partners is a leading emerging growth investor in medical technology companies. This stage of financing has historically represented a narrow channel or bottleneck for emerging growth companies - the point in their development between the substantial capital provided by earlier stage venture capital investors and that provided by institutions focused primarily on public companies. The firm has a demonstrated record of success in not only providing capital, but in enabling and ensuring the commercial success of its portfolio companies. The Principals at Channel believe that the commercialization process has emerged as a critical activity at venture-backed companies and that their success has, in part, been driven by this trend. For more information, please visit http://www.chanmed.com.

About Morningside The Morningside group is a diversified investment group founded in 1986 by the Chan family which is the controlling shareholder of the Hang Lung Group in Hong Kong. Morningside is engaged in both private equity and venture capital investments in North America, Europe and across Asia Pacific. In recent years, leveraging on its experience investing in biotechnology companies in North America, Morningside has become the leading investor in the life science sector in China.


'/>"/>
SOURCE ViOptix Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Round Table Family Charities Raises $350,000 for Childrens Miracle Network
2. Anxiety Raises Heart Attack Risk
3. Lack of Deep Sleep Raises Diabetes Risk
4. Prior Miscarriage Raises Risk for Low-Birthweight Infant
5. Bishops Conference Praises Senate Introduction of Pregnant Women Support Act
6. Mourning Death of Loved One Raises Your Risk of Dying
7. S.L.E. Lupus Foundation Gala Raises Record $3.2 Million for Lupus
8. New JAMA Study Raises Issue of How Nutrients Should Be Researched
9. 32nd Annual Hutch Holiday Gala Raises Millions for Cancer Research
10. Albemarle Raises Prices of Specialty Aluminas
11. Lung Cancer Alliance Praises Congressional Call for Increased Commitment to Fund Lung Cancer Research
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2017)... Abilene, Texas (PRWEB) , ... May 26, 2017 , ... ... released a new publication this week that is focusing on the Peace Agreements being ... begun his Middle East sprint in a race to try to speed up peace ...
(Date:5/26/2017)... ... 26, 2017 , ... Silver Birch of Hammond, a new assisted lifestyle community, ... four acres of land at 5620 Sohl Avenue in Hammond, serves older adults who ... 125 studio and one-bedroom apartments. Each of the private apartments at Silver Birch features ...
(Date:5/26/2017)... (PRWEB) , ... May 26, 2017 , ... Rob Lowe ... An upcoming production of the series is on hiking in American. Viewers can reconnect ... of the great benefits of hiking. , Many consumers have looked for an inventive ...
(Date:5/26/2017)... , ... May 26, 2017 , ... Dr. Alex Rabinovich, ... to announce a new, informational blog post on insurance options. If a Bay Area ... plans may help save time and money. Visiting an in-network provider for a second ...
(Date:5/26/2017)... ... 2017 , ... “When the Stars Lead Home”: a poignant story of loss, ... Laura Weigel Douglas, an avid reader who lives in the Pacific Northwest with her ... Green Hills Adventure Camp. She couldn’t be more grateful. , Twelve-year old Tizzy could ...
Breaking Medicine News(10 mins):
(Date:5/26/2017)... , May 25, 2017  In response to ... , Direct Relief is working with Pfizer to ... available at no cost to community health centers, free ... providers nationwide. "Pfizer has a long-standing ... medicines and ensuring patient safety through educational activities," said ...
(Date:5/24/2017)... 24, 2017  ivWatch LLC today announced the ... Board to enable seamless integration of ivWatch,s groundbreaking ... infusion pumps and other devices. By integrating ivWatch ... to help health care customers deliver a higher ... to IV therapy. "The ivWatch OEM ...
(Date:5/23/2017)... PLEASANTON, Calif. , May 23, 2017 /PRNewswire/ ... world,s most innovative medical devices for pressure ulcer ... at the American Association of Critical Care Nurses, ... Houston May 22-25. The Leaf Patient ... designed specifically for the hospital environment.  The system ...
Breaking Medicine Technology: