ViOptix Raises $12.2 Million in Series D Financing

    FREMONT, Calif., Jan. 10 /PRNewswire/ -- 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 oximetry."
 
     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 expansion.
 
     "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.
 
     "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
 http://www.vioptix.com.
 
     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
 info@cmdf.com.
 
     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
 http://www.chanmed.com.
 
     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.
 
 
 

SOURCE ViOptix Inc.

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