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TherOx Raises $30 Million in Preferred Equity Financing


3/4/2008 8:24:33 AM

IRVINE, Calif.--(BUSINESS WIRE)--TherOx, Inc. today announced that it has closed a $30 million equity financing. DAG Ventures led the round, which included investments from previous investors Kleiner Perkins Caufield & Byers, New Science Ventures, Integral Capital Partners, Aperture Venture Partners and Cross Creek Capital.

"We are delighted with the continuing support of our investors and welcome DAG Ventures to our team. This financing continues to demonstrate the strong investor support for our proprietary SuperSaturated Oxygen Therapy targeted initially at the large market of severe heart attack patients. We believe SuperSaturated Oxygen Therapy will provide interventional cardiologists with the first treatment option following a successful intervention with a balloon angioplasty and stent that salvages the heart muscle in heart attack patients,” said Kevin Larkin, chief executive officer of TherOx.

About TherOx

TherOx, a privately held medical device company based in Irvine, Calif., is focused on developing and commercializing its SuperSaturated Oxygen Therapy to save hearts, to ultimately save lives. SuperSaturated Oxygen Therapy is an adjunctive therapy being evaluated for Myocardial Salvage Intervention performed immediately after Percutaneous Coronary Intervention (PCI) in Acute Myocardial Infarction (AMI) patients. Myocardial Salvage Intervention is a new treatment category for AMI patients intended to salvage the jeopardized myocardium and thus to reduce infarct size. The successful results from TherOx’s pivotal trial, AMIHOT II (Acute Myocardial Infarction with Hyperoxemic Oxygen Therapy), were presented at the 19th Annual Transcatheter Cardiovascular Therapeutics scientific symposium in October 2007 and the company recently completed a U.S. Food and Drug Administration Pre-market approval Application (PMA) requesting regulatory approval of its device for the delivery of SuperSaturated Oxygen Therapy. For more information, visit www.therox.com.

About DAG Ventures

DAG Ventures is a venture capital partnership investing in information technology, energy and life sciences companies with a proven technology, from the prototype stage onward.

About Kleiner Perkins Caufield & Byers

Founded in 1972, Kleiner Perkins Caufield & Byers was the first venture capital firm to form a dedicated Life Sciences Group practice. It has partnered with scientists and entrepreneurs to build more than 100 companies and their breakthrough products in medical devices, drugs, vaccines, personalized medicine, diagnostics and healthcare IT and services.

About New Science Ventures

New Science Ventures has invested in more than 20 companies around the world in the life sciences and information technology sectors. New Science Ventures focuses on investing in both early and late stage companies using novel scientific approaches to address significant unmet needs and create order of magnitude improvements in performance.

About Integral Capital Partners

Founded in 1991, Integral Capital Partners invests in information technology and life sciences companies that have completed the start-up phase, including privately held firms as well as those that are already publicly traded at the time Integral invests.

About Aperture Venture Partners

Aperture Venture Partners is a venture capital group working with companies to tackle significant problems primarily within the healthcare industry. Their partners having successfully invested and grown companies to more than $1 billion, respectively.

About Cross Creek Capital®

Wasatch Advisors’ private equity affiliate, Cross Creek Capital, is a venture capital fund focused on late-stage private equity investment in what it believes are the best-of-breed public companies of the future. Wasatch Advisors’ experience in evaluating small public companies gives it unique insight into evaluating late-stage private companies.

Caution: Investigational device. Limited by Federal (or United States) law to investigational use.

Contact:

FischerHealth Jennifer Agnew, 310-577-7870 x123 jagnew@fischerhealth.com

Source: TherOx, Inc.



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