EndoGastric Solutions Raises $30 Million to Fund US Commercialization

    REDMOND, Wash., Aug. 29 /PRNewswire/ -- EndoGastric Solutions(TM), the
 world leader in natural orifice surgery (NOS), announces that it has
 completed a $30 million round of private financing. The financing,
 EndoGastric Solutions' Series D Round, was led by DeNovo Ventures of Palo
 Alto, California. In connection with the financing, Joe Mandato of DeNovo
 Ventures will join the Company's Board of Directors.
     EndoGastric Solutions plans to use the proceeds from the financing to
 fund expansion of sales and product marketing efforts in support of US
 sales of the StomaphyX(TM) device, cleared for US sales in March of this
 year, as well as the anticipated launch of its EsophyX(TM) device later in
 2007. In addition to the new lead investor, the company's existing
 investors including Chicago Growth Partners(TM), MPM Capital, Advanced
 Technology Ventures(TM), Foundation Medical Partners(TM), and Oakwood
 Medical Investors(TM) also participated in the financing.
     Thierry Thaure, EndoGastric Solutions' President and Chief Executive
 Officer said, "We are delighted to have the support of a sophisticated
 investor group like De Novo. Their team brings a unique depth of industry
 experience to bear on the exciting challenges that face EndoGastric
 Solutions in the upcoming quarters as we transition out of pure new product
 development and clinical trial phases and into building a solid customer
 base with US and international product revenues."
     Joe Mandato of DeNovo said, "We believe that EndoGastric Solutions is
 ahead of other companies in this space. The combination of technological
 know-how, product portfolio, the large underserved targeted population
 together with the experience of its management team makes EGS an attractive
 investment opportunity. EGS' innovative products provide significant
 benefits to patients because, unlike laparoscopic or open surgical
 procedures, they allow for incision-less, less-invasive and less-time
 consuming procedures."
     About EndoGastric Solutions, Inc
     EndoGastric Solutions(TM) is a pioneer in Natural Orifice Surgery for
 the treatment of gastrointestinal diseases, including GERD and other
 surgical applications in the GI tract. EndoGastric Solutions' mission is to
 utilize the most current wisdom in gastroenterology and surgery to develop
 new transoral procedures and products to address the largest unmet needs in
 gastrointestinal diseases. EndoGastric Solutions' technologies involve
 modifying current open surgical and/or laparoscopic approaches by using
 transoral access instead of abdominal incisions. The company designs and
 manufactures single-use instruments that will enable these incision-less
 solutions, and focuses on clinically based products for use by
 gastroenterologists and surgeons.
     StomaphyX is available in the United States. EsophyX is currently under
 FDA pre-market notification [510(k)] review and is not currently available
 in the U.S. Both devices are CE marked and available in the European Union.
     For more information about EndoGastric Solutions, Inc., EsophyX and
 StomaphyX please visit:
     In the US: http://www.endogastricsolutions.com
     In the EU: http://www.egseurope.eu
     Other locations throughout the globe: http://www.egsglobal.net
 
     Contact Information:
 
     Press Contact:
     Jason Thompson
     Marketing Communications Manager
     206-218-5982
     jthompson@endogastricsolutions.com
 
     Investor Relations:
     Guy Seaton
     Chief Financial Officer
     425-307-3200
     gseaton@endogastricsolutions.com
 
     US Customer Contact:
     Larry K Fulton
     Senior Director of U.S. Sales
     EndoGastric Solutions, Inc.
     lfulton@endogastricsolutions.com
 
     European Customer Contact:
     Joan McLoughlin
     Vice President, Education
     +32-487-175-933
     jmcloughlin@endogastricsolutions.com
     This release was issued through eReleases(TM). For more information,
 visit http://www.ereleases.com.
 
 

SOURCE EndoGastric Solutions, Inc.