Torax Medical Inc. Completes $10 Million Series B Financing

MINNEAPOLIS--(BUSINESS WIRE)--June 28, 2005-- Financing to fund clinical trials of a new implant to treat gastroesophageal reflux disease (GERD) Torax Medical Inc., a clinical stage medical device company, announced today that it has completed a $10 million Series B round of financing, led by Thomas, McNerney & Partners, Minneapolis, Minn., and Sanderling Ventures, San Mateo, Calif. Mayo Medical Ventures, Rochester, Minn., also participated. The proceeds will be used to complete pre-clinical testing of Torax Medical's new implant for treating gastroesophageal reflux disease, initiate clinical trials and hire additional personnel.

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