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UltraShape Ltd. Secures $15.1 Million in New Financing Led by Meritech Capital


9/5/2007 6:11:54 AM

YOKNEAM, Israel and PALO ALTO, California, September 5 /PRNewswire/ -- UltraShape, a global leader in non-invasive body contouring, today announced it has completed a $15.1 million round of funding. The financing was led by new investor Meritech Capital Partners, with participation from both of its previous institutional investors, Israel Seed Partners and Polaris Venture Partners.

"Our style of investing targets late-stage companies that are best in class," said Rob Ward, a founder and managing director at Meritech. "We have been very impressed by UltraShape's technology, its ability to penetrate global markets and its management team, and are very confident that UltraShape will maintain its leadership position in the field of non-invasive body contouring solutions."

"We are very pleased to have Meritech join the UltraShape team," said Rodger Stewart, UltraShape President and CEO. "The infusion of capital will enable UltraShape to accelerate global market adoption to meet the growing demands for our body contouring solution. We are confident that Meritech's experience and expertise will contribute significantly as UltraShape grows to become a global leader in the aesthetics industry."

About UltraShape

UltraShape is redefining aesthetic medicine by developing, manufacturing and marketing innovative non-invasive technologies for body contouring. The company is dedicated to providing clinically proven safe and effective solutions that enhance the lives of patients worldwide. The UltraShape proprietary non-invasive body contouring technology is based on focused ultrasound that targets and selectively disrupts fat cells without affecting surrounding structures. Founded in 2000, UltraShape is a privately held and venture backed company with offices in the United States, Israel, France, United Kingdom, and Italy. The UltraShape system is not cleared by the FDA for marketing in the United States. For more information visit http://www.ultrashape.com.

About Meritech Capital Partners

Meritech Capital Partners is a leading provider of late-stage venture capital to the most promising private technology companies. With over $2.2 billion under management, Meritech seeks to lead investments in the portfolio companies of leading early-stage venture capital firms and looks for companies with proven and differentiated technology, rapidly-growing revenue and seasoned management teams. As one of the most active late-stage investors, Meritech provides guidance on a number of issues that rapidly growing companies typically face, including management incentive plans, IPO market timing and positioning, adviser selection, and post-IPO ownership transition. Meritech is located in Palo Alto, CA and can be found at http://www.meritechcapital.com.

Contacts: Abigail Marks UltraShape +972-4-909-9260 abigail@ultrashape.com Paula Moggio FischerHealth +1-310-577-7870 x151 pmoggio@fischerhealth.com Jessica Fishman Gitam Porter Novelli +972-3-576-5798 jessica@gitam.co.il

UltraShape Ltd.

CONTACT: Contacts: Abigail Marks, UltraShape, +972-4-909-9260,abigail@ultrashape.com; Paula Moggio, FischerHealth, +1-310-577-7870 x151,pmoggio@fischerhealth.com; Jessica Fishman, Gitam Porter Novelli,+972-3-576-5798, jessica@gitam.co.il


Read at BioSpace.com


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