Lumen Biomedical, Inc. Receives 2006 Tekne Award for Emerging Medical Technology.

Tekne Awards honor key innovators in Minnesota technology industries

PLYMOUTH, Minn. -- Lumen Biomedical, Inc. was named the medical technology company recipient in the emerging category at the 2006 Tekne Awards held at the Minneapolis Convention Center. The Tekne Awards recognize Minnesota's outstanding technology achievements and leaders.

Lumen Biomedical, Inc. (LBI) has developed the advanced FiberNet[R] Embolic Protection System which traps very small particles during endovascular interventions, while conforming to diseased and eccentric vessels. "We believe FiberNet will revolutionize embolic protection because it promises to be a far more effective filter than those currently available, while simultaneously promising to be able to treat many vessels that other EPDs cannot," said Matthew Ogle, President and CEO of LBI. "We are honored to win the 2006 Tekne Award, which further validates the differentiation of our FiberNet[R] technology."

The FiberNet Embolic Protection System was successfully demonstrated during a live case at the recent Transcatheter Cardiovascular Therapeutics (TCT) meeting in Washington, DC. Course Director Gregg W. Stone, MD, later stated, "FiberNet has the potential to change the practice of embolic protection."

Presented by the Minnesota High Tech Association (MHTA) and Minnesota Technology, Inc. (MTI), in partnership with LifeScience Alley, the Tekne Awards annually recognize the best and brightest technology innovators, developers and managers in Minnesota.

"Each year, it becomes increasingly more difficult to select recipients from such an immensely talented group of finalists," said Kate Rubin, president, MHTA. "This year's recipients have truly proven their leadership and dedication to technological development, which ultimately improves the quality of life for Minnesotans and helps secure Minnesota's place as a global player in technology-based markets."

Award judges selected one recipient from a pool of three finalists in each category. Award categories recognize technology businesses that are emerging (with annual revenues under $50 million) and established (with annual revenues of $50 million or more).

The keynote address at this year's Tekne Awards was given by Warren Staley, chairman and CEO of Cargill, and was emceed by Paul Douglas of WCCO-TV.

"Minnesota has long been a hotbed of innovation," said Rubin. "Thanks to technology innovators and leaders like Lumen Biomedical, the environment for innovation is stronger than ever."

About Lumen Biomedical, Inc.

In July 2003 Lumen Biomedical, Inc. (LBI) was founded with the goal of developing and commercializing a unique and improved embolic protection device (EPD). Through the dedicated work of experienced medical device professionals since that time, LBI is now positioned to establish the FiberNet[R] Embolic Protection System as pre-eminent in the EPD market. More information about Lumen Biomedical, Inc. can be found at www.lumenbio.com.

About Minnesota High Tech Association (MHTA)

The Minnesota High Tech Association (MHTA) accelerates the growth, sustainability and global competitiveness of Minnesota's technology-based economy through public policy advocacy, member collaboration and education, and community outreach. MHTA members include organizations of every size eAE involved in virtually every aspect of technology creation, production, application and education in Minnesota. Find out more online at www.mhta.org .

About MTI

Minnesota Technology, Inc. (MTI) helps drive the small to mid-size manufacturing sector by selling greater efficiency tools, productivity and growth solutions, and cutting edge information at competitive rates. MTI operates as a private 501(C)3 organization, to provide a public service that stimulates business and economic development in Minnesota's manufacturing sector, and is committed to making Minnesota a stronger player in the global manufacturing matrix.