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Blue Belt Technologies, Inc. Closes Series A Financing
Date:9/30/2009

PITTSBURGH, Sept. 30 /PRNewswire/ -- Blue Belt Technologies, Inc., a Pittsburgh based medical device company developing the next generation of "smart" surgical instruments for use in orthopaedic and neurosurgery procedures, has closed on a $2.4 Million private equity Series A round of financing. The round was led by private investors and included the Pittsburgh Life Sciences Greenhouse and Innovation Works (Pittsburgh) and consisted of both new investments and the conversion of existing convertible notes.

"This investment will be used to finalize development and prepare for FDA submission of our core product, the Precision Freehand Sculptor, and will provide the resources necessary to prepare for full market release of our Orthopaedic and Neurosurgical products," said Craig S. Markovitz, Blue Belt Technologies, Inc. Chief Executive Officer. "We are pleased to have such an impressive group of investors and partners share our vision to provide a cost effective, highly capable solution for bone based computer assisted procedures."

"We continue to be impressed by Blue Belt's combination of innovative technology, passionate, experienced leadership and large market potential," said John W. Manzetti, PLSG President & CEO. "Blue Belt Technologies is a great example of the Pittsburgh Life Sciences Greenhouse model of taking technologies from Concept to Commercialization((TM) )and we look forward to the company's release into the Orthopaedic and Neurosurgical markets."

About Blue Belt Technologies, Inc.

Blue Belt Technologies, Inc., a Carnegie Mellon University spin off company, is developing the next generation of "smart" surgical instruments for use in orthopaedic and neurosurgery procedures. The company's patented Precision Freehand Sculptor (PFS) provides precise control to surgeons via an intelligent, handheld, computer assisted bone cutting tool. PFS provides the surgeon with a layer of safety a
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SOURCE Blue Belt Technologies, Inc.
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