AngioScore Announces Completion of $30 Million Financing.FREMONT, Calif. -- AngioScore, Inc. today announced the successful completion of a $30 million private equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . The Series E round was led by Telegraph Hill The placename Telegraph Hill may refer to several and perhaps dozens of different places in the anglophone world. (Its equivalents in other languages may also be common placenames. Partners. All of AngioScore's other existing institutional investors also participated in this round, including Psilos Group Management, QuestMark Partners, L.P., UV Partners, California Technology Ventures and Innomed Ventures. "The completion of this round of financing provides AngioScore with significant additional resources to fund the continued ramp-up of our worldwide sales effort, expand manufacturing operations, and accelerate new product development," said Thomas R. Trotter, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "The rapid market acceptance of the AngioSculpt for both peripheral and coronary indications in the U.S. and Europe continues to exceed our expectations. In addition, we hope to begin the launch of the AngioSculpt in Japan during the first half of 2008. With an estimated three million angioplasty procedures performed annually on a worldwide basis for both peripheral and coronary artery disease coronary artery disease, condition that results when the coronary arteries are narrowed or occluded, most commonly by atherosclerotic deposits of fibrous and fatty tissue. , we believe the market opportunity for the AngioSculpt is very significant." Trotter added: "Well over 250 hospitals in the United States Lists of hospitals for each U.S. state:
The investment banking firm of Thomas Weisel Partners Thomas Weisel Partners Group, Inc. (NASDAQ: TWPG), often shortened to just TWP or TWeisel, is a U.S. middle-market and growth focused investment banking firm based in San Francisco, California. was the placement agent for this transaction. About AngioScore AngioScore is a developer of novel angioplasty catheters for use in the treatment of coronary and peripheral artery disease. The company's flagship product, the AngioSculpt[R] Scoring Balloon Catheter balloon catheter n. A catheter with an inflatable balloon at its tip, used especially to expand a partially obstructed blood vessel or bodily passage and to measure blood pressure in a blood vessel. Also called balloon-tip catheter. , incorporates a unique system of nitinol-scoring elements with a traditional balloon catheter. The scoring elements create focal concentrations of dilating force, which minimize balloon slippage ("geographic miss") and assist in the luminal expansion of stenotic stenotic /ste·not·ic/ (ste-not´ik) marked by stenosis; abnormally narrowed. ste·not·ic adj. Of or affected with stenosis. stenotic marked by abnormal narrowing or constriction. arteries. AngioScore, Inc. (www.angioscore.com) is a privately held endovascular company, located in Fremont, California. AngioScore can be contacted at (510) 933-7900 or at info@angioscore.com. Note: This press release contains forward-looking statements that are based upon management's current expectations and are inherently uncertain. Actual results and timing of events could differ materially form current expectations and forward-looking statements. |
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