[10/29/2004] Fremont, CA – ViOptix, a Fremont, CA-based developer and manufacturer of non-invasive local tissue oxygen measurement devices with applications in plastic, reconstructive and vascular surgery, announced today that it has secured $9.2 million in a Series C venture round of funding. MDS Capital led the financing which included existing investors, Morningside group, Vivo Ventures (formerly BioAsia) and Trident Investment.
“This is an exciting time for ViOptix. The support of our investors and the backing of venture capital leaders like MDS Capital is a strong validation of our business strategy and the value of our technology,” said Mohamed Elmandjra, President and CEO. He added, “We expect the proceeds to provide the capital necessary to take us through our commercialization phase and to keep expanding our applications.”
ViOptix, Inc. and Canadian Medical Discoveries Fund, Inc. also announced that they had established a joint venture company, ViOptix Canada. The new private company will be located in Toronto and will be focused on technology and international market development.
About ViOptix, Inc..
Backed by venture capital, ViOptix, Inc. (www.vioptix.com) has developed and patented a revolutionary new technology (Optical Diffusion Imaging and Spectroscopy or “ODIS”), which enables non-invasive, direct, real-time estimation of local tissue oxygen saturation (StO2) on a very cost-effective basis. Its technology will be used in diagnostic and monitoring equipment that has a wide variety of potential clinical applications.
ViOptix is located in Fremont, California, in the Silicon Valley area. Its private Canadian venture company, ViOptix Canada, will be headquartered in Toronto, Ontario, Canada.
About Canadian Medical Discoveries Fund Inc.
Canadian Medical Discoveries Fund Inc. (www.cmdf.com) is Canada's largest and most mature health sciences labour-sponsored venture capital fund, with approximately $300 million in managed assets. Established in 1994 and available across Canada, CMDF has venture capital investments in over 50 companies involved in health sciences, biotechnology, diagnostics, medical devises, health care delivery services and drug discovery and development. CMDF is advised by MDS Capital with selections and management of its investments.
About MDS Capital Corp.
MDS Capital Corp. and affiliates, with more than $1 billion under management, is a leading North American venture capital company focused exclusively on providing financial support and other services to help build emerging life science companies. The company provides a continuum of capital, from early through later stages, by raising capital in public retail and private institutional funds. Additional information about MDS Capital Corp. is available at www.mdscapital.com.
FOR MORE INFORMATION CONTAINED IN THIS RELEASE:
Susie Faries
Senior Director of Marketing
ViOptix, Inc.
44061-B Old Warm Springs Blvd.
Fremont, CA 94538
Phone: 510-226-5860, ext. 217
E-mail: fariess@vioptix.com
Website: www.vioptix.com
Bob Allan
Venture Partner
MDS Capital Corp.
Phone: 416-213-4696
E-mail: ballan@mdscapital.com
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8/25/2010
