BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

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

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES