ViOptix Raises $12.2 Million in Series D Financing

    FREMONT, CA, Jan. 10 /CNW/ - ViOptix Inc. announced today that it has
raised $12.2 million in a Series D round of financing. The round was led by
Channel Medical Partners, a leading venture investor in emerging growth
medical technology companies. This latest round of financing brings the total
amount raised by the company, since its inception in 1999, to approximately
$28.7 million.
    In addition to Channel Medical Partners, other investors include Lincoln
Funds International and existing investors Canadian Medical Discoveries Fund
and Morningside Technology Ventures Limited. In conjunction with this
financing, W. Gregory Shearer, Founder and Principal of Channel Medical
Partners, will join the ViOptix Board of Directors. Merriman Curhan & Ford
served as financial advisors to ViOptix.
    "I am pleased by the interest in ViOptix and thank our new investors, as
well as current shareholders for their on-going support," said Larry C. Heaton
II, President, Chief Executive Officer and Chairman of ViOptix. "ViOptix has
made significant progress during the past year in commercializing its products
for reconstructive microsurgery. I look forward to working closely with our
investor group as we collaborate to build a strong business in tissue
    Proceeds from the financing will be used to develop and launch additional
clinical applications from the core platform technology and expand the
Company's presence in the microsurgery market. Funding will also support the
Company's clinical trials program, in-licensing activities and international
    "ViOptix' use of near infrared technology and proprietary algorithms to
measure oxygen saturation in local tissue gives the clinician the opportunity
to avert serious adverse clinical outcomes before symptoms are detectable by
any other means," said Dr. Gerald Chan, Managing Director of Morningside
Technology Advisory, LLC. Morningside is a founding and leading investor in
    "ViOptix is positioned well for growth with its platform technology which
lends itself to the development of numerous products with multiple pathways
for commercialization. We look forward to working with the Company at this
exciting time," commented Gregory Shearer, Principal and Founder of Channel
Medical Partners.
    Dr. Michael Cross, Senior Vice President for Jove Investment Management,
a major investor in ViOptix Inc. through its Canadian Medical Discoveries
Fund, remarked, "Tissue oximetry technology has broad applications in
healthcare, but we are still in the early stages of applying the technology to
the many potential clinical indications. ViOptix is well along its way to
commercial success with its initial application of tissue oximetry technology
for reconstructive microsurgery, and has many additional opportunities for new
clinical applications to bring to market."

    About ViOptix Inc.

    ViOptix Inc. develops, manufactures and markets innovative proprietary
products for tissue oximetry, measuring oxygen saturation levels in tissues.
The Company's products and products under development consist of near infrared
generators and single-use disposable sensor devices. Its first product, the
ODISsey System, received U.S. Food and Drug Administration clearance in
January 2005 for the measurement of localized tissue oxygenation levels for
critical care applications. For more information on the Company or its
products, visit the Company's website at

    About Canadian Medical Discoveries Funds

    The Canadian Medical Discoveries Funds (CMDF) is a labour-sponsored
venture capital investment fund (LSIF). Established in 1994, CMDF is Canada's
most mature health sciences LSIF specifically targeting biotechnology,
pharmaceuticals, diagnostics, medical devices and imaging products and other
special life sciences opportunities. Together the funds have approximately
$200 million in managed assets and have venture capital investments in more
than 30 companies involved in health sciences, biotechnology, diagnostics,
medical devices, drug discovery and development, health care delivery services
and e-health. CMDF offers investors long-term performance potential, 100%
RRSP-eligibility and, through its labour-sponsored investment fund structure,
eligibility for substantial tax credits. For further information, please
contact Canadian Medical Discoveries Fund at (416) 601-2435, or contact via
e-mail at

    About Channel Medical Partners

    Channel Medical Partners is a leading emerging growth investor in medical
technology companies. This stage of financing has historically represented a
narrow channel or bottleneck for emerging growth companies - the point in
their development between the substantial capital provided by earlier stage
venture capital investors and that provided by institutions focused primarily
on public companies. The firm has a demonstrated record of success in not only
providing capital, but in enabling and ensuring the commercial success of its
portfolio companies. The Principals at Channel believe that the
commercialization process has emerged as a critical activity at venture-backed
companies and that their success has, in part, been driven by this trend. For
more information, please visit
    About Morningside The Morningside group is a diversified investment group
founded in 1986 by the Chan family which is the controlling shareholder of the
Hang Lung Group in Hong Kong. Morningside is engaged in both private equity
and venture capital investments in North America, Europe and across Asia
Pacific. In recent years, leveraging on its experience investing in
biotechnology companies in North America, Morningside has become the leading
investor in the life science sector in China.

For further information:

For further information: Larry C. Heaton II, President and Chief
Executive Officer of ViOptix Inc., (510) 226-5860, ext. 202,, Web Site:,

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