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Healionics Corporation Completes Series A Financing



1/29/2008 10:00:13 AM

REDMOND, Wash., Jan. 29 /PRNewswire/ -- Healionics Corporation, a provider of tissue regeneration and device biointegration solutions to healthcare manufacturers, today announced that it has raised $1.7 million in a Series A financing. The financing was led by individual investors including Carl Lombardi, former CEO of SpaceLabs Medical and Sam Naficy, M.D., Medical Director of Naficy Plastic Surgery & Rejuvenation Center.

"We are pleased to secure this financing, which provides recognition of our technology platform and allows Healionics to continue expanding the potential of STAR materials to enhance current and next generation medical devices," said Rob Brown, Chief Executive Officer of Healionics. "These funds will be used specifically to scale up the STAR material manufacturing process, to expand and accelerate preclinical studies of STAR materials and to advance our business development activities."

Healionics' propriety STAR Material -- Sphere Templated Angiogenic Regenerative Material -- is specifically engineered to enhance biointegration and promote healing. Described as the 'Gore-Tex(TM) of biomaterials,' STAR is designed to enable the biocompatibility of a wide range of medical devices that are implanted into the body.

"Healionics has a very promising technology that offers widespread opportunities in a rapidly expanding cosmetic market," said Sam Naficy, M.D. "It is this versatility and expansiveness that make Healionics a very attractive business model, and I look forward to the future advancement of this Company."

Healionics was formed in March 2007. To date, Healionics has entered into multiple agreements for the advancement of its STAR(TM) material into various market applications including diabetes, wound care and infusion therapy.

About Healionics Corporation

Healionics is a privately held biomaterials company whose mission is to be the leading partner of tissue regeneration and device biointegration solutions to healthcare manufacturers. Healionics has licensed STAR Material -- Sphere Templated Angiogenic Regenerative Material -- that works with the body to promote healing and enables the biocompatibility of a wide range of medical devices that are implanted into the body. Healionics was voted the Best Technology Investment Opportunity at the Zino Society's 2007 Zillionaire Investment Forum and was recently named "Most Promising New Biotech Firm of 2007" by Seattle Business Monthly. Healionics will debut its technology as an exhibitor (booth #790) at the Medical Design & Manufacturing West (MD&M West) 2008 conference, Jan. 29-31 in Anaheim, Calif. Healionics Corporation is headquartered in Redmond, Washington. For more information, please visit http://www.healionics.com.

Julie@rathbuncomm.com

CONTACT: Julie Rathbun of Rathbun Communications, Inc., +1-206-769-9219,
Julie@rathbuncomm.com, for Healionics Corporation

Web site: http://www.healionics.com/


Read at BioSpace.com


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