Ascension Orthopedics Closes $21 Million Financing and Recruits an Orthopedics Industry Veteran as CEO Proceeds to assist with expansion of Ascension's product line and

distribution network

    AUSTIN, Texas, Jan. 21 /PRNewswire/ -- Ascension Orthopedics, Inc., an
 emerging medical device company that develops, manufactures and markets
 joint replacement, trauma and tissue regeneration surgical implants for use
 in upper and lower extremities, announced today that it has secured $21
 million in a Series D financing. This new round of funding will be used
 primarily to expand the current product line and enhance the Company's
 product marketing and distribution network.
     Leading this Series D financing as the majority investor is Frazier
 Healthcare Ventures, one of the nation's leading providers of venture and
 growth equity capital to emerging healthcare companies. Alan Frazier,
 General Partner and Founder of Frazier Healthcare Ventures will join Trevor
 Moody, General Partner of Frazier Healthcare, and Steven Tallman, Venture
 Partner of Frazier Healthcare on Ascension's Board of Directors.
     "We feel that Ascension is uniquely positioned to experience
 substantial revenue growth with the expansion of its distribution network
 and product line and are pleased to have the opportunity to be a part of
 this growth development," comments Trevor Moody, General Partner of Frazier
     In addition to this financing, Ascension Orthopedics is pleased to
 announce that Mr. Andrew J. Miclot will join the company as CEO. Mr. Miclot
 brings more than 25 years of experience in executive management and
 marketing within the orthopedic industry. He was most recently Global
 Senior Vice President of Marketing Orthopedics at Orthofix. Prior to this,
 he held senior positions at leading medical device companies including
 Symmetry Medical, DePuy and Zimmer. During his 13 years at Symmetry
 Medical, where he held a variety of senior positions including Senior Vice
 President and Investor Relations Officer, Andy played a meaningful role in
 growing Symmetry's annual revenues from approximately $10MM to over $260MM.
 "I am very excited to have joined Ascension Orthopedics and to have the
 opportunity to work with the existing management team and board of
 directors. Ascension is uniquely positioned for significant growth in the
 orthopedics extremities marketplace," said Mr. Miclot.
     "I am extremely pleased Frazier Healthcare Ventures has the confidence
 in Ascension to provide this important round of equity financing that will
 enable us to expand further on the key cornerstones of our business --
 product innovation and marketing," said Jerome Klawitter, PhD. Founder,
 Chief Scientific Officer and former CEO. "I look forward to turning over my
 CEO duties to Mr. Miclot and working with him to leverage our respective
 backgrounds in product innovation and product marketing."
     About Ascension Orthopedics, Inc.
     Ascension Orthopedics began product development in Austin, Texas in
 1996 and in 2001 received FDA PMA approval for its first product, an
 innovative pyrolytic carbon total joint replacement for the MCP (Knuckle)
 joint of the hand. The company has since increased its joint replacement
 product line to include implants for the shoulder, elbow, wrist, fingers
 and toes. In addition to joint replacements, Ascension Orthopedics offers
 trauma products to treat bone fractures occurring in the hand and arm as
 well as the foot and ankle. Ascension also markets tissue regeneration
 products for the upper and lower extremities, including implants that help
 reconnect severed nerves and implants intended to reduce adverse tissue
 adhesions that often occur following surgical procedures. Ascension
 Orthopedics sells product in the United States and in more than 20 foreign
 countries worldwide.
     About Frazier Healthcare
     Founded in 1991 and with more than $1.8 billion of capital under
 management, Frazier Healthcare is one of the nation's leading providers of
 venture and growth equity capital to emerging healthcare companies. Having
 invested in more than 100 emerging healthcare companies, Frazier Healthcare
 is well known for its depth of experience and the technical expertise of
 its investment team. This experience encompasses product development and
 launch, clinical trial implementation and design, industry operating
 experience, academic research and clinical practice. For further
 information, please visit
FOR FURTHER INFORMATION CONTACT: Andrew J. Miclot President / CEO Ascension Orthopedics, Inc. 512-836-5001

SOURCE Ascension Orthopedics, Inc.

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