EL SEGUNDO, Calif.--(BUSINESS WIRE)--May 10, 2005--Vantage Oncology, Inc., a leading owner and operator of state-of-the-art radiation oncology centers nationwide, has secured $22 million in third-round financing. Vantage Oncology will use the Series C funding to continue acquiring, joint venturing and developing cancer treatment facilities. All of the existing investors in Vantage -- New Enterprise Associates (NEA), Conning Capital Partners (CCP), Versant Ventures and Salix Ventures -- have invested in this third round of financing, which was co-led by NEA and CCP.
"We are pleased that our investor group has once again expressed its confidence in Vantage's progress," said Michael Fiore, Chief Executive Officer of Vantage Oncology. "This indicates the ongoing real excitement about Vantage's potential in the large and growing radiation oncology market. With 10 centers currently in operation or under development, and several more in multiple states under letters of intent, Vantage continues to expand its presence nationwide."
"This round of financing will allow Vantage to continue executing on our mission of providing patients with improved access to advanced radiation therapy treatments in convenient community settings," said Leslie Botnick, M.D., Medical Director of Vantage Oncology.
About Vantage Oncology, Inc.
Founded in October 2002, El Segundo-based Vantage Oncology, Inc. acquires, joint ventures, develops and operates state-of-the-art radiation oncology centers. Vantage Oncology was created in response to the growing need among cancer patients, hospitals and physicians for accessible and advanced radiation treatment therapies. Vantage Oncology is led by a seasoned management team, including Chief Executive Officer Michael Fiore, Medical Director Leslie Botnick, M.D., Chief Financial Officer Marshal Salomon and Chief Development Officer Mark Ahern. The company's Board of Directors includes Michael Aspinwall, Partner at Conning Capital Partners; Marty Felsenthal, General Partner at Salix Ventures; John Grotting, Chairman and Chief Executive Officer at Alliance Medical Corporation; Chip Linehan, General Partner at New Enterprise Associates; and Barbara Lubash, Managing Director at Versant Ventures; as well as Fiore and Botnick. For more information about Vantage Oncology, visit www.vantageoncology.com.
About New Enterprise Associates
New Enterprise Associates (NEA) is a leading venture capital firm focused on helping entrepreneurs create and build major new enterprises that use technology to improve the way we live, work and play. Since its founding in 1978, the firm has followed the same basic principles: support their entrepreneurs, provide an excellent return to their limited partners and practice their profession with high standards and respect. Practicing classic venture capital for over 25 years, NEA focuses on early stage investments, playing an active role in assisting management to build companies of lasting value. With $6 billion under management, NEA's experienced management team has invested in over 500 companies, of which more than 145 have gone public and more than 185 have been acquired. NEA has offices in Menlo Park, Calif.; Reston, Va.; and Baltimore, Md. For additional information, visit www.nea.com.
About Conning Capital Partners
Conning Capital Partners (CCP) is a leading private equity firm providing growth capital to innovative financial services and healthcare services companies. In partnership with high quality management teams, CCP shapes strategy by leveraging its operating skills, deep industry experience and extensive networks to drive value and accelerate growth. Founded in 1985, CCP currently manages more than $500 million and has completed over 70 investments. For more information, go to www.conningcapital.com
About Versant Ventures
Versant Ventures, founded in 1999, is a leading healthcare-focused venture capital firm specializing in early stage investments in medical devices, biotechnology, specialty pharmaceuticals, healthcare services and healthcare information technology. The firm's seasoned investing team, with more than 80 years of venture investment experience and more than 175 years of operating experience, raised its first fund in November 1999. Versant Ventures closed a $400-million fund in December 2001, for a total of $670 million under management. Offices are located in Menlo Park and Newport Beach, Calif. For more information, please visit www.versantventures.com.
About Salix Ventures
Salix Ventures manages two venture capital partnerships with approximately $180 million in capital commitments from limited partners. Salix invests primarily in early stage healthcare services and healthcare information technology companies. With offices in Andover, Nashville and San Francisco, Salix Ventures assists companies across the country through all stages of development. For more information, please visit www.salixventures.com.
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Source: Vantage Oncology, Inc.