MOUNTAIN VIEW, CA--(MARKET WIRE)--May 15, 2007 -- Asthmatx, a medical device company that is developing a catheter-based procedure for the treatment of asthma, today announced that it has received an equity investment from Olympus Medical Systems Corp. Under terms of the agreement, Olympus has invested $50 million in Series D preferred stock in exchange for a 15% stake in Asthmatx, Inc. This capital infusion is expected to fund Asthmatx through FDA approval and market launch of the Alair® Bronchial Thermoplasty System, an innovative non-drug treatment for asthma.
Olympus will join other Asthmatx financial investors from its prior financing rounds, including: Boston Scientific Corporation, Polaris Venture Partners, Menlo Ventures, MedVenture Associates, HBM BioCapital, Montreux Equity Partners, and Vanguard Ventures. The Asthmatx Board of Directors remains unchanged.
About Asthmatx:
Asthmatx is developing a catheter-based medical device for the treatment of asthma. Asthmatx has developed the Alair® System to perform an investigational outpatient procedure called bronchial thermoplasty. Bronchial thermoplasty involves the delivery of precisely controlled thermal energy to the airway wall, to reduce the amount of airway smooth muscle, and lessen these muscles’ ability to narrow the airway. The Alair System from Asthmatx was recently awarded “Best of 2006" by Popular Science Magazine and Bronchial Thermoplasty was named one of the “Top Ten Medical Innovations for 2007" by the Cleveland Clinic Foundation. For more information on Asthmatx visit www.asthmatx.com. The Alair System has received a CE Mark to sell the device in the European Union.
About Olympus:
Olympus Medical Systems Corp. is a global leader in endoscopic visualization, and the diagnosis and treatment of disease. For more information, please visit: http://www.olympus.co.jp/en/.
Editor’s Notes:
For more information on Asthmatx or the Alair Bronchial Thermoplasty System, please contact Chris Lowe, CFO at 650-810-1106 or clowe@asthmatx.com.
Contact: Contact: Chris Lowe CFO 650-810-1106 Email Contact
Source: Asthmatx
