Navigation Links
Accumetrics Announces $16.5M in New Capital Financing
Date:10/6/2009

SAN DIEGO, Oct. 6 /PRNewswire/ -- Accumetrics, Inc., developer and marketer of the VerifyNow® System, the first rapid and easy-to-use diagnostic system for measuring an individual's response to multiple antiplatelet agents, announced today that it has completed a round of financing that will raise $16.5 million in new capital. The capital infusion, which will fully finance the company into 2011, came from the company's existing investors, including Arnerich Massena, BBT Fund/Apothecary Capital, Essex Woodlands Health Ventures, Kaiser Permanente Ventures and RiverVest Venture Partners.

Accumetrics' VerifyNow System helps physicians assess their patients' response to life-saving antiplatelet therapies, such as aspirin, Plavix®, Effient(TM) and GP IIb/IIIa inhibitors. Patients respond to antiplatelet medications differently; patients with impaired response may be at significantly greater risk for death, heart attack or stroke(1-4). The VerifyNow System helps physicians rapidly determine an individual patient's response to his or her therapy, without the usual time lag for laboratory analysis. Doctors use this information to ensure their patients are receiving the optimal treatment. Over 80 million people in the U.S. have heart disease(5), 50 million are on chronic aspirin therapy(6), and more than 25 million prescriptions are written annually for Plavix, the second largest selling drug worldwide(7).

"We have an outstanding group of investors who believe in our technology and our market opportunity and are encouraged by the execution of our 2009 plan. We look at 2010 as a breakthrough year for Accumetrics, and are pleased to be very well capitalized as we enter this important period in our history," said Timothy I. Still, President and CEO of Accumetrics.

Tony Arnerich, Accumetrics' Chairman of the Board and the largest shareholder in Accumetrics, stated, "This is a very effective management team, and we view the VerifyNow platform as a breakthrough technology in one of the most important remaining areas of cardio-diagnostics. We felt it was very important to ensure the financial stability necessary to allow this excellent team to execute on their ambitious business plan."

The capital will be funded in two closing transactions, with the first in 2009 and the second in 2010. Accumetrics reported that these proceeds will fund the completion of a number of key milestones planned for 2010 including expanded claims for existing products, new product development and continued expansion of its commercialization efforts both internationally and within the United States.

About Accumetrics (www.accumetrics.com)

Accumetrics is committed to advancing medical understanding of platelet function and enhancing quality of care for patients receiving antiplatelet therapies by providing industry-leading and widely accessible diagnostic tests for rapid platelet function assessment.

Accumetrics' VerifyNow System is the first rapid and easy to use platform to help physicians determine an individual's response to multiple antiplatelet agents. Addressing every major antiplatelet drug, including FDA-cleared products for aspirin, P2Y12 inhibitors (e.g. prasugrel (Effient) and clopidogrel (Plavix)), and GP IIb/IIIa inhibitors (e.g. ReoPro® and Integrilin®), the VerifyNow System provides a valuable tool to help physicians make informed treatment decisions.

    (1)  Patti, G. et al. J Am Coll Cardiol. 2008; 52:1128-33.
    (2)  Marcucci, R. et al. Circulation. 2009;119(2):237-42.
    (3)  Cuissett, T. et al. Am J Cardiol;2008 Jun 15;101(12):1700-3.
    (4)  Price, MJ. et al. Eur Heart J. 2008 Apr;29(8):992-1000.
    (5)  American Heart Association and American Stroke Association. 2008.
    (6)  Pignone,  M. et al.  Am J Prev Med 2007;32(5):403-407.
    (7)  WSJ. January 26, 2009.

The Accumetrics logo and VerifyNow are registered trademarks of Accumetrics, Inc. ReoPro is a registered trademark of Centocor, Inc. Integrilin is a registered trademark of Millennium Pharmaceuticals. Plavix is a registered trademark of sanofi-aventis. Effient is a trademark of Lilly-Daiichi Sankyo.

    CONTACT:
    Megan Rusnack
    Lippert/Heilshorn & Associates
    212-838-3777
    mrusnack@lhai.com

    Timothy I. Still
    President and CEO
    Accumetrics
    858-404-8260
    press@accumetrics.com

SOURCE Accumetrics, Inc.


'/>"/>
SOURCE Accumetrics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Accumetrics Announces $28.8 Million Financing and Initiation of Pivotal Clinical Trial
2. Accumetrics Announces the Launch and First Patient Enrolled Into the GRAVITAS Trial
3. Accumetrics, Inc. Announces GRAVITAS Trial 50 Percent Enrolled
4. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
5. EDAP Announces Launch of Clinical Study Combining HIFU and Chemotherapy for Localized Aggressive High Risk Prostate Cancer
6. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
7. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer
8. DOV Pharmaceutical, Inc. Announces Successful Phase Ib Results for DOV 21,947
9. Phosphagenics Announces Positive Phase 1b Transdermal Insulin Clinical Trial Results
10. Xenomics Announces Implementation of its First Diagnostic Test for Acute Myeloid Leukemia Into Clinical Practice
11. Emisphere Technologies, Inc. Announces 2007 Second Quarter Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... June 23, 2016 Roche (SIX: RO, ROG; ... for its Elecsys BRAHMS PCT (procalcitonin) assay as a ... septic shock. With this clearance, Roche is the first ... integrated solution for sepsis risk assessment and management. ... infection and PCT levels in blood can aid clinicians ...
(Date:6/23/2016)... 23, 2016 Bracket , a leading clinical ... generation clinical outcomes platform, Bracket eCOA (SM) 6.0, at ... 26 – 30, 2016 in Philadelphia , ... Outcome Assessment product of its kind to fully integrate with ... Bracket eCOA 6.0 is a flexible platform for electronic clinical ...
(Date:6/23/2016)... Revolutionary technology includes multi-speaker listening ... industry leaders in advanced audiology and hearing aid technology, ... ™, the world,s first internet connected hearing aid that ...      (Photo: http://photos.prnewswire.com/prnh/20160622/382240 ) , ... ,world firsts,: , TwinLink™ - the first ...
Breaking Medicine Technology:
(Date:6/25/2016)... TX (PRWEB) , ... June 25, 2016 , ... Austin ... of the American College of Mohs Surgery and to Dr. Russell Peckham for medical ... and highly effective treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery ...
(Date:6/25/2016)... ... ... First Choice Emergency Room , the largest network of independent freestanding emergency ... its new Mesquite-Samuell Farm facility. , “We are pleased to announce Dr. Ogunleye ... M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. , Dr. Ogunleye ...
(Date:6/25/2016)... ... ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department of Health and ... their exemplary accomplishments in worksite health promotion. , The Wellness at Work Awards took ... the BWI Marriott in Linthicum Heights. iHire was one of 42 businesses to receive ...
(Date:6/24/2016)... ... , ... Those who have experienced traumatic events may suffer from a complex ... as drug or alcohol abuse, as a coping mechanism. To avoid this pain and ... a traumatic event. , Trauma sufferers tend to feel a range of emotions, from ...
(Date:6/24/2016)... , ... June 24, 2016 , ... ... and Scientific Sessions in Dallas that it will receive two significant new grants ... grants came as PHA marked its 25th anniversary by recognizing patients, medical professionals ...
Breaking Medicine News(10 mins):