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TARGET THERAPEUTICS ANNOUNCES CARDIMA, NEW COMPANY TO FOCUS ON ELECTROPHYSIOLOGY; TWO VENTURE PARTNERS INVEST $3.0 MILLION

 FREMONT, Calif., May 24 /PRNewswire/ -- Target Therapeutics Inc. (NASDAQ: TGET) today announced the formation of a new company, CaRDiMa (Cardiac Rhythm Disorder Management) Inc., which will focus on electrophysiology as it relates to cardiac disorder management. The initial principal stockholders are Target and venture capital funds affiliated with Kleiner Perkins Caulfield & Byers and New Enterprise Associates.
 Target owns approximately a 38-percent equity interest in CaRDiMa, which has initial funding of $3.0 million. In return, Target has granted CaRDiMa certain rights to its current and future proprietary technologies for exclusive use in developing and commercializing products for electrophysiology applications.
 "Through the formation of CaRDiMa, Target is able to pursue new medical markets that leverage the company's core technology while continuing to focus on neurovascular and peripheral vascular intervention," said Gary Bang, president and chief executive officer of Target. "We're extremely fortunate to be starting CaRDiMa with venture partners Kleiner Perkins and New Enterprise Associates, whose expertise in start-up situations will be of enormous value."
 "Since all early research and development costs will be supported by venture capital funding, our equity position in CaRDiMa will be non- dilutive to Target stockholders," according to Richard Randall, Target's ch Target's vice president of new ventures and a founding employee, will now hold the titles of executive vice president and chief operating officer at CaRDiMa and will serve on the board. "Cardiac disorders are the No. 1 cause of death in America, and I believe Target's technology offers considerable potential in this important medical field."
 CaRDiMa will initially operate out of facility space leased from Target.
 Founded in 1985, Target Therapeutics Inc. develops, manufactures and markets innovative, highly specialized disposable micro-catheters, guidewires and micro-coils for use in minimally invasive non-surgical procedures to treat vascular diseases of the brain associated with stroke, as well as to treat diseases of other parts of the body that are accessible through small vessels of the circulatory system.
 -0- 5/24/93
 /CONTACT: analysts, Larry Tannenbaum, vice e?nt of finance and administration, chief financial officer of Target, 510-440-7700; or press, Bruce Voss of Edelman Public Relations, 415-433-5381, for Target/
 (TGET)


CO: Target Therapeutics Inc.; CaRDiMa Inc. ST: California IN: MTC SU:

GT-TM -- SF008 -- 3449 05/24/93 17:15 EDT
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Publication:PR Newswire
Date:May 24, 1993
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