CoAxia, Inc. Announces $21.5M Series D...(nt we are pleased to have raised a sizea...),Health

Date:6/22/2009

nt, we are pleased to have raised a sizeable, and oversubscribed, financing round. These funds will provide the resources to finalize our pivotal trial and demonstrate safety and efficacy. Looking forward, with Sofinnova's experience in financing medical device companies developing breakthrough technologies to successful exits, we believe that we are now well positioned for trial completion, PMA submission and initiation of sales and marketing."

Antoine Papiernik, Managing Partner at Sofinnova Partners commented: "Sofinnova is pleased to have led the Series D round for CoAxia. We have long been interested in treatment opportunities in ischemic stroke, given the very large, global, untreated population. We had been following CoAxia's progress for many years and we felt it was the right time to get involved. We find the NeuroFlo technique very compelling, given its ease of use, excellent safety profile and impressive early clinical results. If the SENTIS trial is successful, we believe that NeuroFlo has the potential to become a standard of care. We are very impressed with the strength of CoAxia's operating team, and are convinced that they can continue to deliver on the NeuroFlo potential. I look forward to joining CoAxia's Board of Directors for this exciting period ahead."

CoAxia, Inc. is a venture-backed, privately held, clinical-stage company providing perfusion augmentation therapies to improve outcomes for patients with cerebral ischemia resulting from stroke, vasospasm and other conditions. In addition to the SENTIS, Flo24 and FASTFlo trials for ischemic stroke, CoAxia's NeuroFlo(TM) & FloControl(TM) devices have been approved by the US FDA via Humanitarian Device Exemption for the treatment of cerebral vasospasm, have received US FDA 510(k) clearance, and have secured the CE Mark for cerebral perfusion augmentation.

Sofinnova Partners is an independent venture capital firm based in Paris, France that spec
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SOURCE CoAxia, Inc. Copyright©2009 PR Newswire. All rights reserved

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