Medivance(R) Completes $23 Million Private Financing

Non-Invasive Arctic Sun(R) Emerges as Leading Technology for Therapeutic

Temperature Control

    LOUISVILLE, Colo., July 26 /PRNewswire/ -- Medivance, Inc., the medical
 device company focused on the development of therapeutic temperature
 management products for treating critically ill patients, announced today
 that it has completed a $23 Million Series D private equity financing.
 Existing investors Cross Atlantic Partners, Camden Partners, Skyline
 Ventures and Partisan Management widely participated in the financing,
 which was led by a significant institutional investor. MDY Healthcare based
 in London also participated in the Series D financing.
     The proceeds will enable the company to take advantage of the rapidly
 expanding market for its award-winning Arctic Sun(R) Temperature Management
 System, develop new products and expand into new therapeutic areas.
     "We are pleased to announce the closing of our Series D financing which
 will enable Medivance to continue our rapid sales growth and provide the
 means to reach profitability," said Medivance CEO Robert Kline. "This
 funding demonstrates continued strong support for Medivance's proven,
 market-leading products that can be implemented easily and quickly, safely
 speeding cooling therapy to patients when minutes count."
     The Arctic Sun is currently established in hospitals worldwide with
 applications in emergency departments and intensive care settings. A
 growing body of clinical evidence suggests therapeutic cooling improves
 patient outcomes by reducing damage to the brain after stroke, cardiac
 arrest, brain injury, high fevers, trauma, heat stroke and other critical
 illnesses.
     Therapeutic temperature management implemented with Medivance's Arctic
 Sun is rapidly becoming a worldwide standard of care for critically ill
 patients.
     About Medivance
     Medivance, Inc. is a Louisville, CO-based medical device company that
 designs, manufactures and sells products used to improve patient outcomes
 through control of core body temperature. The company provides clinicians
 and researchers with safe, easy and precise methods of lowering and
 controlling body temperature in order to reduce brain damage caused by
 critical illness and high fevers.
     For more information, http://www.medivance.com .
 
 

SOURCE Medivance, Inc.