Ischemia Technologies Closes on $8.4 Million in Series D Financing.

Business Editors/Health/Medical Writers

DENVER--(BUSINESS WIRE)--March 27, 2003

Ischemia Technologies, Inc. today announced that it has raised $8.4 million to accelerate commercialization of its new blood test for rule out of acute coronary syndromes. The Albumin Cobalt Binding (ACB(R)) test for measurement of Ischemia Modified Albumin (IMA(TM)) was recently cleared for sale in the US by the FDA, and is the first new blood test for evaluation of heart attacks since 1994. The test is now available in the US, Canada and Europe.

KB Partners of Chicago led the $8.4 million financing, joined by new investors Advantage Colorado CAPCO and Murphree Colorado CAPCO. Current investors Crawley Venture Group, Murphree Ventures, Quest Capital Partnership, Roser Venture Partners, Sequel Venture Partners, White Pines Ventures and Wolf Ventures also participated. As part of the funding, Bob Zieserl, managing director of KB Partners, will join the company's board of directors.

"KB Partners is excited be part of introducing this important diagnostic tool to the US market," noted Zieserl. "IMA provides a major advancement in the ability of emergency physicians to risk stratify patients with chest pain of suspected cardiac origin. This is a large and growing problem in the US, as over 6 million patients per year visit emergency departments with chest pain or other symptoms of heart attack."

"Our goal is to establish IMA as a standard of care for clinical assessment of patients presenting to hospital emergency departments with chest pain," explained Peter Crosby, president and CEO. "The funds from this financing will help us to advance our understanding of how this new test can improve the care of patients suspected of having acute coronary syndromes." Proceeds from the funding will be used for sales, marketing and customer support activities, medical education, and continuing research on the science and clinical applications of IMA.

Ischemia Technologies develops, manufactures and markets new and unique in vitro diagnostic products with a focus on cardiovascular and acute care medicine. Located in Denver, Colorado, the company is financed by equity investments from strategic partners, venture capitalists and private equity investors. The company is certified to the international quality standards ISO 9001, ISO 13485 and EN 46001. Additional information can be found at www.ischemia.com.

KB Partners is a Chicago-based venture capital firm focused on investments in early-stage technology companies in the Midwest. KB's objective is to build dominant new enterprises by working in partnership with talented entrepreneurs and experienced managers. The firm manages two venture funds totaling in excess of $95 million. For more information, visit www.kbpartners.com.