Alveolus, Inc. Finalizes $15 Million Series C Financing To Continue To Develop And Provide Innovative Non-Vascular Technology

CHARLOTTE, N.C., April 25 /PRNewswire/ -- ALVEOLUS, a leader in the development of non-vascular stenting technologies, announced the closing of a $15 million Series C financing. This significant investment complemented a very successful Series B round of funding for the Company. The capital raised will be used to catalyze the development of the remaining Alveolus product portfolio.

"The conclusion of this round of financing will enable us to bring successfully to market the remainder of our immediate product portfolio as well as allow us to initiate product development on our newest innovative development initiatives," said Eric Mangiardi, Alveolus President & CEO. "Alveolus will continue to honor its commitment to provide physicians and their patients with the latest and most innovative non-vascular stent technology, by developing and providing those tools necessary to improve the patients' quality of life."

The financing was led by Ridgeback Capital Management, LLC, joined by MDS Capital and others from the previous series A and B rounds of financing.

About Alveolus

Headquartered in Charlotte, NC, Alveolus is a leading developer of non- vascular interventional stent technology. Alveolus' advanced stenting technology is designed to enhance the quality of life for patients who suffer from pulmonary or gastrointestinal obstruction. The Alveolus product ideation process, guided by world leading interventionalists, allows for rapid prototyping and development of products to address the specific requirements for each area of the body. Products are created by physicians, for physicians, with an end goal of enhancing the quality of life and reducing the long term medical costs for patients and their families. Alveolus has several FDA and CE Mark cleared products on the market currently.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management's best judgment as to what may occur in the future. Actual outcomes and results are not guaranteed and are subject to certain risks, uncertainties and assumptions and if any of these risks or uncertainties materialize or any of the assumptions prove incorrect, Alveolus' results could differ materially from their respective expectations in these statements.

For further information visit http://www.alveolus.com or contact Eric Mangiardi at (704) 926-4837

Source: Alveolus

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