NovaShunt Incorporated As Medical Device Company Focused On Implantable Fluid Management Systems

SARATOGA, Calif., Nov. 18 /PRNewswire/ -- NovaShunt, Inc., a medical device company that designs, develops and markets proprietary, implantable automated fluid management systems today announced that it has been incorporated as a Delaware corporation with design and manufacturing facilities in Hayward, California.

NovaShunt was founded in 2002 to develop and manufacture automated implantable pump systems to move fluids around inside the body. The company's initial product line focuses on a large unmet clinical need to remove excess fluid that accumulates in the abdominal cavity in patients with a variety of illnesses including liver failure, congestive heart failure and some types of cancer. The company, which has intellectual property around its technology, expects to have products available for clinical testing in early 2005.

Leading the company's design, development and investor relations effort is Noel Johnson, Ph.D., who was recently appointed as President and CEO of NovaShunt. Dr. Johnson has extensive experience developing medical devices and managing and growing start-up medical device companies.

Most recently, Dr. Johnson was Co-Founder, President and Chief Technology Officer at HealtheTech, Inc., a medical device company in Golden, CO engaged in the design and development of handheld devices and software products that that allow health professionals to measure and monitor important parameters such as nutrition, metabolism and weight management in clinical and commercial applications. Prior to that, Dr. Johnson spent 13 years with Abbott Laboratories where he worked extensively with pump technologies and implantable devices. He also directed business development and mergers and acquisitions for a major division of Abbott Laboratories.

"Noel is an experienced leader with a proven track record in the medical device industry," said Dan Burnett, M.D., MBA, Founder, Chairman and Chief Medical Officer of NovaShunt. "His broad experience in managing organizations, from start ups through large organizations, makes him an ideal fit for NovaShunt."

"I am pleased to accept the position as President and CEO of NovaShunt," said Dr. Johnson. NovaShunt has a significant opportunity to improve the quality of patients' lives while making a profound impact on the medical device industry. I look forward to leading the initiatives that will drive that success," continued Johnson.

NovaShunt is currently completing its first round of financing. About NovaShunt

Headquartered in Saratoga, CA, NovaShunt, Inc. is a leading innovator of a new category of patented, fluid shunting technologies and products designed to drain and remove chronic fluid build-up in the body. For more information, please visit http://www.novashunt.com/ or email NovaShunt at www.investors@novashunt.com.

CONTACT: NovaShunt, Inc. Public Relations Dept., +1-408-872-1510, orinvestors@novashunt.com

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