Atritech Announces Completion of a $22 Million Equity Financing

Capital will fund company through end of clinical trial

    MINNEAPOLIS, Sept. 5 /PRNewswire/ -- Atritech, Inc., a clinical stage
 medical device company, announced today that it has completed a $22 million
 round of financing. SightLine Healthcare Vintage Fund led the round along
 with substantial commitments from the existing investors including Prism
 Venture Partners, the lead from the last round. In the past 18 months, the
 Company has raised approximately $45 million in capital.
     With this new funding, the Company will complete the enrollment phase
 of its PROTECT AF clinical trial along with the preparation and submission
 of clinical results to the FDA. The PROTECT AF clinical trial is evaluating
 the WATCHMAN(R) device versus the current standard of care, Coumadin, in
 patients with AF. The PROTECT AF clinical trial is being conducted in 60
 sites across the United States and Europe and is in the final stage of
 enrollment with approximately 600 patients enrolled, of which 300 patients
 have been enrolled since the beginning of the year.
     Atritech's WATCHMAN(R) device is designed to keep harmful sized blood
 clots from entering a patient's blood stream, potentially causing a stroke.
 Patients with atrial fibrillation (a heart condition which causes the upper
 chambers of the heart to beat too rapidly) are at a significantly greater
 risk of having a stroke. Typically these patients require blood thinning
 medications to prevent these clots from forming in the heart. Current blood
 thinning medications require frequent monitoring and have diet and other
 drug interactions. Moreover, there are many serious complications including
 severe bleeding.
     This financing follows the Company's acquisition in June of
 intellectual property from ev3, Inc. relating to closure devices within the
 left atrial appendage. This acquisition of over 60 patents together with
 the Company's broad patent portfolio and clinical trial success establishes
 the Company as the clear leader in the left atrial appendage closure
 market.
     "The recent acquisition of ev3's intellectual property and the
 continued progress of the PROTECT AF clinical trial have Atritech well
 positioned in this emerging market," said Buzz Benson, Managing Director,
 SightLine Partners. "We believe the WATCHMAN(R) device may prove to be a
 key element in protecting AF patients at an increased risk of stroke. We
 are excited to be the lead investor in this round of financing."
     "The continued support of our existing investor group further validates
 our innovative approach to stroke prevention in patients with atrial
 fibrillation and potential market opportunity," said Jim Bullock, President
 & CEO of Atritech. "With strong enrollment, the FDA submission on the
 horizon, and the recent intellectual property acquisition, we are
 positioned to be the market leader," added Bullock.
     About Atritech
     Atritech is privately held and based in Plymouth, Minnesota. Major
 investors in Atritech include SplitRock Partners, Prism Venture Partners,
 Tullis-Dickerson Partners, The Vector Group, Thoma Cressey Funds, SightLine
 Funds and Affinity Capital. For more information, visit
 http://www.atritech.net.
     About SightLine Partners
     SightLine Partners LLC is a Minneapolis, MN based venture firm that
 manages a series of funds that invest in promising emerging growth
 companies in the medical device industry. For more information, visit
 http://www.sightlinepartners.com.
 
 

SOURCE Atritech, Inc.