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	<title>RiverVest</title>
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		<title>Accumetrics Increases Capital Raise, Completes Final Close in $24 Million Capital Financing</title>
		<link>http://www.rivervest.com/accumetrics-increases-capital-raise-completes-final-close-in-24-million-capital-financing/</link>
		<comments>http://www.rivervest.com/accumetrics-increases-capital-raise-completes-final-close-in-24-million-capital-financing/#comments</comments>
		<pubDate>Wed, 01 Sep 2010 15:33:20 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Portfolio Company News]]></category>

		<guid isPermaLink="false">http://www.rivervest.com/?p=2436</guid>
		<description><![CDATA[Financing, clinical data, and strategic collaboration position company for continued strong growth
San Diego, CA &#8212; Accumetrics, Inc., a privately-held developer and marketer of the VerifyNow® System, the first rapid and easy-to-use point-of-care system for measuring platelet reactivity to multiple antiplatelet agents, announced today that it has completed its capital financing efforts, the first round of [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify;"><em>Financing, clinical data, and strategic collaboration position company for continued strong growth</em></p>
<p><strong>San Diego, CA</strong> &#8212; <a href="http://www.accumetrics.com" target="_blank">Accumetrics, Inc.</a>, a privately-held developer and marketer of the VerifyNow® System, the first rapid and easy-to-use point-of-care system for measuring platelet reactivity to multiple antiplatelet agents, announced today that it has completed its capital financing efforts, the first round of which was announced in the Fall of 2009. <span id="more-2436"></span>The Company raised an additional $7 million in this round and secured a total of $24 million in new capital. The capital infusion is expected to fund the company to profitability and comes primarily from the company’s existing investors, including Arnerich Massena, BBT Fund/Apothecary Capital, Essex Woodlands Health Ventures, Rivervest and Kaiser Permanente.</p>
<p>Accumetrics’ VerifyNow System helps physicians assess patients’ response to all major types of antiplatelet therapies such as aspirin, P2Y12 inhibitors (e.g. Plavix®, Effient® ) and GP IIb/IIIa inhibitors (e.g. ReoPro® and Integrilin®). As patient response to these drugs varies, the VerifyNow tests help physicians ensure their patients are receiving the optimal benefit from their antiplatelet therapy. The VerifyNow System is widely used in various clinical settings where antiplatelet medications are prescribed to reduce the<br />
occurrence of future thrombotic events such as heart attack and stroke.</p>
<p>“The closure of this financing demonstrates continued and unwavering confidence from our investor base,” said Timothy I. Still, President and CEO of Accumetrics. “We are excited to be positioned at the forefront of a major market shift in the healthcare sector<br />
where medical diagnostics will play a greater role in personalizing patient treatment.”</p>
<p>The Company expects to use the proceeds from this financing to fund the completion of a number of key milestones including the company’s GRAVITAS trial, its CLIA waiver application for the VerifyNow P2Y12 Test currently under review with the FDA, and<br />
continued expansion of its global commercialization efforts.</p>
<p style="text-align: center;"># # #</p>
<p><strong>About Accumetrics<br />
</strong>Accumetrics is committed to advancing medical understanding of platelet function and enhancing quality of care for patients receiving antiplatelet therapies by providing industry-leading and widely accessible diagnostic tests for rapid platelet function<br />
assessment.</p>
<p>Accumetrics’ VerifyNow System is the first rapid and easy-to-use platform to help physicians determine an individual’s response to multiple antiplatelet agents. Addressing every major antiplatelet drug, including FDA-cleared products for aspirin, P2Y12 inhibitors (e.g. prasugrel (Effient) and clopidogrel (Plavix)), and GP IIb/IIIa inhibitors (e.g. ReoPro® and Integrilin®), the VerifyNow System provides a valuable tool to help physicians make informed treatment decisions. For more information about the Company and its products, visit www.accumetrics.com.</p>
<p>The Accumetrics logo and VerifyNow are registered trademarks of Accumetrics, Inc. ReoPro is a registered trademark of Centocor, Inc. Integrilin is a registered trademark of Millennium Pharmaceuticals. Plavix is a registered trademark of Sanofi-Aventis. Effient is<br />
a registered trademark of Eli Lilly and Company.</p>
<p><strong>CONTACT:<br />
</strong><a   rel="nofollow" id="sto_emailShroud2" href="http://www.somethinkodd.com/emailshroud/emailaddress.php?domainName=lhai.com&amp;userName=mrusnack&amp;ver=2.2.0"  target="_blank"><br />
Megan Rusnack<br />
</a>Lippert/Heilshorn &amp; Associates<br />
212-838-3777</p>
<p><a   rel="nofollow" id="sto_emailShroud3" href="http://www.somethinkodd.com/emailshroud/emailaddress.php?domainName=accumetrics.com&amp;userName=press&amp;ver=2.2.0"  target="_blank"><br />
Timothy I. Still<br />
</a>President and CEO<br />
Accumetrics<br />
858-404-8260</p>
]]></content:encoded>
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		<title>Otonomy Closes $38.5 Million Series B Financing</title>
		<link>http://www.rivervest.com/otonomy-closes-38-5-million-series-b-financing/</link>
		<comments>http://www.rivervest.com/otonomy-closes-38-5-million-series-b-financing/#comments</comments>
		<pubDate>Mon, 30 Aug 2010 13:26:56 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Portfolio Company News]]></category>

		<guid isPermaLink="false">http://www.rivervest.com/?p=2424</guid>
		<description><![CDATA[Strong Investor Syndicate to Fund Otonomy to Become Leading Company in the
Development of Locally Delivered Therapeutics for Ear Disorders
SAN DIEGO, CA  &#8212; Otonomy, Inc. announced today that it has closed a $38.5 million Series B financing co-led by Novo Ventures and RiverVest Venture Partners, and joined by Domain Associates and TPG Biotech. This financing is [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: center;"><em>Strong Investor Syndicate to Fund Otonomy to Become Leading Company in the<br />
Development of Locally Delivered Therapeutics for Ear Disorders</em></p>
<p><strong>SAN DIEGO, CA</strong>  &#8212; <a href="http://www.otonomy.com" target="_blank">Otonomy, Inc.</a> announced today that it has closed a $38.5 million Series B financing co-led by <a href="http://www.denovovc.com" target="_blank">Novo Ventures </a>and RiverVest Venture Partners<span id="more-2424"></span>, and joined by <a href="http://www.domainvc.com" target="_blank">Domain Associates </a>and <a href="http://www.tpgbiotech.com" target="_blank">TPG Biotech</a>. This financing is incremental to the $10 million Series A closed with <a href="http://www.avalonvi.com" target="_blank">Avalon Ventures </a>in June 2010. Avalon also participated in the Series B round.</p>
<p>Proceeds from the financing will support Otonomy&#8217;s first two programs through pivotal clinical studies as well as expansion of the Company&#8217;s pipeline of locally delivered drugs to treat disorders of the ear.</p>
<p>&#8220;We are delighted to have participation in this financing from top-tier venture capital funds,&#8221; said Jay Lichter, Ph.D., CEO and co-founder of Otonomy, and managing director of Avalon Ventures. &#8220;We also welcome the large commitment of funds in this round to support our clinical development activities through registration, and the financial capacity of the investor group, which enables the company to take our products through registration and possibly self-commercialize in the U.S. should we decide to do so.&#8221;</p>
<p>In conjunction with the financing, Peter Bisgaard, partner of Novo Ventures, Brian Dovey, partner of Domain Associates, John McKearn, Ph.D., venture partner of RiverVest Venture Partners, and Heather Preston, M.D., managing director of TPG Biotech, have been added to the board of directors.</p>
<p>&#8220;Novo Ventures have been impressed by the ability of Otonomy&#8217;s novel delivery technology to generate excellent drug exposure in the target organ, and we expect that this will translate into important new treatment options for patients,&#8221; said Mr. Bisgaard. &#8220;Furthermore, we believe that the development of optimized drug treatments for disorders of the ear represents a very attractive investment opportunity based on the large population of patients affected and the lack of any FDA-approved drugs for hearing or balance disorders.&#8221;</p>
<p>Dr. McKearn added, &#8220;Otonomy is a company that we have been following almost since its inception, and we have been pleased to see the rapid progress made by the team in advancing OTO-104 into clinical development and OTO-203 into IND-enabling studies. We are confident that the intellectual property created by Otonomy in the field of sustained release drug delivery to the ear will become very important and valuable as this new field matures.&#8221;</p>
<p>OTO-104, Otonomy&#8217;s lead product candidate, is a sustained release steroid currently in a Phase 1b clinical trial for patients with Meniere&#8217;s disease. Otonomy is also developing OTO-203, a combination product for the treatment of otitis media, which is expected to enter clinical trials in 2011. Other product candidates will target acute and chronic forms of hearing loss, balance disorders, and tinnitus.</p>
<p><strong>About Otonomy, Inc.</strong><br />
Otonomy is a clinical stage biopharmaceutical company developing novel drug therapies for disorders of the inner and middle ear. The company was founded in 2008 by Avalon Ventures together with Jeffrey Harris, MD, PhD, Rick Friedman, MD, PhD and Allen Ryan, PhD, who are preeminent researchers in the otology field. Otonomy&#8217;s core technology is a sustained release formulation developed for optimal delivery of drugs from a single intratympanic (IT) injection. Broad applicability of this delivery and formulation technology has already been established across a number of therapeutic classes, and two products have been advanced into active development. The first, OTO-104, is a sustained release formulation of the steroid dexamethasone. A Phase 1b clinical trial is ongoing in Meniere&#8217;s disease patients, and future studies are being planned for acute onset hearing loss. Otonomy&#8217;s second product, OTO-203, is a sustained release antibiotic/steroid combination product being developed for the treatment of otitis media. OTO-203 clinical trials are expected to begin in 2011.</p>
<p><strong>Media Contact</strong><br />
<a   rel="nofollow" id="sto_emailShroud5" href="http://www.somethinkodd.com/emailshroud/emailaddress.php?domainName=russopartnersllc.com&amp;userName=heidi.chokeir&amp;ver=2.2.0"  target="_blank">Heidi Chokeir, Ph.D.</a><br />
Russo Partners<br />
O (619) 528-2217<br />
M (858) 380-6584</p>
]]></content:encoded>
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		<title>Accumetrics, Inc., Daiichi Sankyo, Inc. and Eli Lilly and Company Launch Strategic U.S. Collaboration</title>
		<link>http://www.rivervest.com/accumetrics-inc-daiichi-sankyo-inc-and-eli-lilly-and-company-launch-strategic-u-s-collaboration/</link>
		<comments>http://www.rivervest.com/accumetrics-inc-daiichi-sankyo-inc-and-eli-lilly-and-company-launch-strategic-u-s-collaboration/#comments</comments>
		<pubDate>Tue, 13 Jul 2010 19:16:13 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Portfolio Company News]]></category>

		<guid isPermaLink="false">http://www.rivervest.com/?p=2415</guid>
		<description><![CDATA[Collaboration seeks to increase awareness about the importance of measuring patients’ platelet response to antiplatelet therapy
San Diego, CA, Parsippany, NJ and Indianapolis, IN &#8212; Accumetrics, Inc., Daiichi Sankyo, Inc, and Eli Lilly and Company announced today that the companies have entered into a strategic collaboration in the United States to raise awareness about antiplatelet therapy [...]]]></description>
			<content:encoded><![CDATA[<p><em>Collaboration seeks to increase awareness about the importance of measuring patients’ platelet response to antiplatelet therapy</em></p>
<p>San Diego, CA, Parsippany, NJ and Indianapolis, IN &#8212; <a href="http://www.accumetrics.com" target="_blank">Accumetrics, Inc.</a>, <a href="http://www.dsi.com" target="_blank">Daiichi Sankyo, Inc</a>, and <a href="http://www.lilly.com" target="_blank">Eli Lilly and Company </a>announced today that the companies have entered into a strategic collaboration in the United States to raise awareness about antiplatelet therapy and the role of platelet function testing.<span id="more-2415"></span></p>
<p>Several factors, including a patient’s genetic make-up, diabetic status, age, weight and the use of certain other medications metabolized through the cytochrome P450 pathway in the body may influence patient response to antiplatelet medicines. Therefore, it is important that physicians understand their options to determine if their use of a specific antiplatelet medicine is having its intended effect.</p>
<p>Antiplatelet medicines help prevent blood platelets from sticking or clumping together, reducing the likelihood that arteries will be blocked by a clot, leading to a heart attack.</p>
<p>The focus of the collaboration is to educate healthcare professionals about the availability and reliability of a rapid and easy-to-use platelet function test, and to stress the importance of assessing each patient’s platelet response to antiplatelet medications.  “By working closely with Daiichi Sankyo and Lilly, we hope to offer greater understanding of platelet function testing as a means to help physicians assess patients’ platelet response to antiplatelet therapy,” said Timothy I. Still, President and CEO of Accumetrics.</p>
<p>&#8220;We believe physicians will want to know the specific effect of a patient’s antiplatelet therapy and whether additional measures may be needed,&#8221; said Rogelio Braceras, M.D., senior medical director, thrombosis at Daiichi Sankyo, Inc. “In fact, a recent Clinical Alert from the American College of Cardiology Foundation and American Heart Association noted that several ongoing studies are being conducted to evaluate whether directly measuring the antiplatelet effect might be useful to help tailor antiplatelet therapy for patients.”</p>
<p>This collaborative program will work to provide healthcare professionals information about the factors that affect response to antiplatelet medication and how platelet function testing works. Platelet function testing can be measured at the point of care and provides quick insight to physicians about the antiplatelet effect of a specific medicine. With this information, physicians can make more informed treatment decisions.</p>
<p>“By using platelet function testing, physicians now have another tool to help them manage their patients on antiplatelet therapy,” said Tiffany Olson, vice president of Diagnostics, Eli Lilly and Company.</p>
<p style="text-align: center;"># # #</p>
<p><strong>About Accumetrics<br />
</strong>Accumetrics is committed to advancing medical understanding of platelet function and enhancing quality of care for patients receiving antiplatelet therapies by providing industry-leading and widely accessible diagnostic tests for rapid platelet function assessment.</p>
<p>Accumetrics’ VerifyNow System is the first rapid and easy-to-use platform to help physicians determine an individual’s response to multiple antiplatelet agents. Addressing every major antiplatelet drug, including FDA-cleared products for aspirin, P2Y12 inhibitors, and GP IIb/IIIa inhibitors, the VerifyNow System is widely used in various clinical settings where antiplatelet medications are prescribed to reduce the occurrence of future thrombotic events such as heart attack and stroke. For more information about the Company and its products, visit www.accumetrics.com.</p>
<p>The Accumetrics logo and VerifyNow are registered trademarks of Accumetrics, Inc.</p>
<p><strong>About Daiichi Sankyo</strong><br />
The Daiichi Sankyo Group is dedicated to the creation and supply of innovative pharmaceutical products to address the diversified, unmet medical needs of patients in both mature and emerging markets. While maintaining its portfolio of marketed pharmaceuticals for hypertension, hyperlipidemia, and bacterial infections, the Group is engaged in the development of treatments for thrombotic disorders and focused on the discovery of novel oncology and cardiovascular-metabolic therapies. Furthermore, the Daiichi Sankyo Group has created a &#8220;Hybrid Business Model,&#8221; which will respond to market and customer diversity and optimize growth opportunities across the value chain.  For more information, please visit <a href="http://www.daiichisankyo.com">www.daiichisankyo.com</a>.</p>
<p>Daiichi Sankyo, Inc., headquartered in Parsippany, New Jersey, is a member of the Daiichi Sankyo Group. For more information on Daiichi Sankyo, Inc., please visit <a href="http://www.dsi.com">www.dsi.com</a>.</p>
<p><strong>About Eli Lilly and Company<br />
</strong>Lilly, a leading innovation-driven corporation, is developing a growing portfolio of pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations.  Headquartered in Indianapolis, Ind., Lilly provides answers – through medicines and information – for some of the world&#8217;s most urgent medical needs. Additional information about Lilly is available at www.lilly.com.</p>
<p><strong>CONTACT:</strong><br />
<a   rel="nofollow" id="sto_emailShroud10" href="http://www.somethinkodd.com/emailshroud/emailaddress.php?domainName=lhai.com&amp;userName=mrusnack&amp;ver=2.2.0"  target="_blank">Megan Rusnack</a><br />
Lippert/Heilshorn &amp; Associates<br />
212-838-3777</p>
<p><a   rel="nofollow" id="sto_emailShroud11" href="http://www.somethinkodd.com/emailshroud/emailaddress.php?domainName=accumetrics.com&amp;userName=press&amp;ver=2.2.0"  target="_blank">Timothy I. Still</a><br />
President and CEO<br />
Accumetrics<br />
858-404-8260</p>
<p><a   rel="nofollow" id="sto_emailShroud12" href="http://www.somethinkodd.com/emailshroud/emailaddress.php?domainName=dsi.com&amp;userName=Kwix&amp;ver=2.2.0"  target="_blank">Kim Wix</a><br />
DaiichiSankyo, Inc.<br />
973-944-2338</p>
<p><a   rel="nofollow" id="sto_emailShroud13" href="http://www.somethinkodd.com/emailshroud/emailaddress.php?domainName=lilly.com&amp;userName=hullta&amp;ver=2.2.0"  target="_blank">Tammy Hull</a><br />
Eli Lilly and Company<br />
317-651-9116</p>
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		<title>GILEAD SCIENCES TO ACQUIRE CGI PHARMACEUTICALS FOR UP TO $120 MILLION</title>
		<link>http://www.rivervest.com/gilead-sciences-to-acquire-cgi-pharmaceuticals-for-up-to-120-million/</link>
		<comments>http://www.rivervest.com/gilead-sciences-to-acquire-cgi-pharmaceuticals-for-up-to-120-million/#comments</comments>
		<pubDate>Fri, 25 Jun 2010 15:07:58 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Portfolio Company News]]></category>

		<guid isPermaLink="false">http://www.rivervest.com/?p=2411</guid>
		<description><![CDATA[- Deal to Broaden Gilead’s Research Expertise into Kinase Biology and Chemistry -
Foster City, CA and Branford, CT – Gilead Sciences, Inc. (Nasdaq: GILD) and CGI Pharmaceuticals, Inc., a privately-held, development-stage pharmaceutical company focused on small molecule chemistry and kinase biology, today announced the signing of a definitive agreement pursuant to which Gilead will acquire CGI. [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: center;"><em><strong>- Deal to Broaden Gilead’s Research Expertise into Kinase Biology and Chemistry -</strong></em></p>
<p>Foster City, CA and Branford, CT – <a href="http://www.gilead.com" target="_blank">Gilead Sciences, Inc.</a> (Nasdaq: GILD) and <a href="http://www.cgipharma.com" target="_blank">CGI Pharmaceuticals, Inc.</a>, a privately-held, development-stage pharmaceutical company focused on small molecule chemistry and kinase biology, today announced the signing of a definitive agreement pursuant to which Gilead will acquire CGI. <span id="more-2411"></span>Under the terms of the agreement, Gilead will acquire CGI for up to $120 million, the majority as an upfront payment and the remaining based on clinical development progress, all of which will be financed through available cash on hand. Gilead anticipates that the deal would close in the third quarter of 2010, subject to satisfaction of certain closing conditions. After closing, CGI will continue operations in Branford as a wholly-owned subsidiary of Gilead.</p>
<p>CGI has generated a library of proprietary small molecule kinase inhibitors. The lead preclinical compound from this library targets spleen tyrosine kinase (Syk) and could have unique applications for the treatment of serious inflammatory diseases, including rheumatoid arthritis.</p>
<p>“The acquisition of CGI represents a unique opportunity to expand our research efforts in an interesting and promising area of drug discovery,” said Norbert W. Bischofberger, PhD, Gilead’s Executive Vice President, Research and Development and Chief Scientific Officer. “CGI has established itself in the area of protein kinase biology and small molecule discovery, and the company’s scientific leadership and expertise represents a strong strategic fit with Gilead’s existing research organization. We look forward to advancing compounds in CGI’s portfolio toward clinical development.”</p>
<p>“We are pleased to join the Gilead organization and look forward to partnering with the company to deliver on the promise of selective kinase inhibitors in our proprietary library of compounds,” said Mark Velleca, MD, PhD, Founder and Senior Vice President of CGI. “We are confident that Gilead’s knowledge and experience developing small molecule candidates for a range of clinical indications will be instrumental in helping to progress our compounds toward clinical development for diseases where tremendous unmet medical need exists.”</p>
<p><strong><span style="text-decoration: underline;">About CGI Pharmaceuticals, Inc.</span></strong><br />
CGI Pharmaceuticals, Inc. is a private, development-stage pharmaceutical company that has leveraged its small molecule chemistry and kinase biology expertise to discover and develop an innovative pipeline of small molecule therapeutics for multiple oncology and immunology-based indications. CGI’s investors include: MPM Capital, Flagship Ventures, Vector Fund Management, Coastview Capital, Vantage Point Venture Partners, Lilly BioVentures, RiverVest Venture Partners, CHL Medical Partners, Connecticut Innovations, Oxford Bioscience Partners, and Emerging Technology Partners. CGI&#8217;s corporate headquarters and research laboratories are located in Branford, Connecticut. For additional information about the company, please visit: www.cgipharma.com.</p>
<p><strong><span style="text-decoration: underline;">About Gilead Sciences</span></strong><br />
Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The company’s mission is to advance the care of patients suffering from life-threatening diseases worldwide. Headquartered in Foster City, California, Gilead has operations in North America, Europe and Australia.</p>
<p><strong><span style="text-decoration: underline;">Forward-Looking Statement<br />
</span></strong>This press release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks, uncertainties and other factors, including the risks to both companies that the acquisition of CGI will not be consummated as the transaction is subject to certain closing conditions. In addition, if and when the transaction is consummated, there will be risks and uncertainties related to Gilead’s ability to successfully integrate the business and employees of CGI in Gilead’s business and Gilead’s ability to successfully advance CGI’s pipeline programs. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Gilead directs readers to its Quarterly Report on Form 10-Q for the quarter ended March 31, 2010. Gilead claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation to update any such forward-looking statements.</p>
<p style="text-align: center;"># # #</p>
<p style="text-align: center;">For more information on Gilead Sciences, please visit the company&#8217;s website at <a href="http://www.gilead.com">www.gilead.com</a> <br />
or call Gilead Public Affairs at 1-800-GILEAD-5 or 1-650-574-3000.</p>
<p><strong>Gilead Contacts:</strong><br />
Susan Hubbard, Investors<br />
(650) 522-5715</p>
<p>Amy Flood, Media<br />
(650) 522-5643</p>
<p><strong>CGI Pharmaceuticals Contacts:</strong><br />
Muzammil Mansuri or Peter Fuller<br />
(203) 315-1222</p>
]]></content:encoded>
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		<title>IDEV TECHNOLOGIES ENTERS INTO AN EXCLUSIVE DISTRIBUTION AGREEMENT WITH TRIREME MEDICAL</title>
		<link>http://www.rivervest.com/idev-technologies-enters-into-an-exclusive-distribution-agreement-with-trireme-medical/</link>
		<comments>http://www.rivervest.com/idev-technologies-enters-into-an-exclusive-distribution-agreement-with-trireme-medical/#comments</comments>
		<pubDate>Thu, 24 Jun 2010 18:24:37 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Portfolio Company News]]></category>

		<guid isPermaLink="false">http://www.rivervest.com/?p=2421</guid>
		<description><![CDATA[Company expands product portfolio
Webster, TX – IDEV Technologies, Incorporated, (IDEV) an emerging leader in the development and marketing of minimally invasive medical technologies, today announced that it has entered into an exclusive distribution agreement covering the U.S. and Germany for TriReme Medical Inc.’s (TriReme) GliderXtreme™ PTA balloon catheter, an advanced product with specific features for the [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: center;"><em>Company expands product portfolio</em></p>
<p><strong>Webster, TX</strong> – <a href="http://www.idevmd.com" target="_blank">IDEV Technologies, Incorporated</a>, (IDEV) an emerging leader in the development and marketing of minimally invasive medical technologies, today announced that it has entered into an exclusive distribution agreement covering the U.S. and Germany for TriReme Medical Inc.’s (TriReme) GliderXtreme™ PTA balloon catheter<span id="more-2421"></span>, an advanced product with specific features for the expanding Peripheral Arterial Disease (PAD) market. The PAD market represents more than a $2.5 billion device revenue opportunity in the U.S., growing at nearly 10 percent annually with significant opportunities for next generation stents and balloon catheters. IDEV expects to launch the GliderXtreme in the third quarter of 2010.</p>
<p>TriReme recently received clearance from the U.S. Food and Drug Administration (FDA) for the GliderXtreme catheter, a highly differentiated advanced balloon catheter system with an expanded matrix of sizes including longer balloon lengths, an atraumatic tapered tip and shaft construction reinforced for torque transmission and exceptional pushability. GliderXtreme is designed to cross difficult and highly diseased lesions to restore blood flow in complex anatomy.</p>
<p>“IDEV is building a strong global foundation, which makes it an ideal partner for us,” Dr. Eitan Konstantino, president and CEO of TriReme said. “IDEV’s proven commercial capabilities are undeniable. In addition, both companies are engaged in the development of future tools for the PAD market, IDEV with its durable, flexible, and easy-to-use SUPERA® stent and TriReme with the GliderXtreme, a next generation balloon catheter technology designed to cross a broad range of lesions. We look forward to working with IDEV to drive market adoption.”</p>
<p>IDEV’s self-expanding SUPERA interwoven nitinol stent is a novel stent platform designed for the treatment of biliary and peripheral artery diseases. The SUPERA stent has received CE Mark approval in Europe for biliary and peripheral vascular indications and is currently the focus of a prospective, FDA-IDE approved, single-arm clinical trial in 258 patients at up to 40 sites in the U.S. The company is also focused on developing and adding highly differentiated products to its portfolio.</p>
<p>Christopher M. Owens, President &amp; CEO of IDEV, commented that “IDEV and TriReme are both creating advanced, innovative products to fill significant unmet needs in rapidly expanding medical device markets. We are very impressed with TriReme’s catheter products and development capabilities. Given the promising results and growth opportunities we are experiencing with our SUPERA stent, adding a complementary and technologically advanced product offering makes sense both strategically and clinically. We look forward to working closely with TriReme.”</p>
<p><strong>About IDEV Technologies, Incorporated</strong><br />
IDEV Technologies, Incorporated (IDEV) is an innovator and developer of next generation medical devices for use in the interventional radiology, vascular surgery and cardiology marketplace. IDEV’s worldwide headquarters is located in Webster, Texas and its European headquarters is located in Beuningen, Netherlands.</p>
<p><strong>About TriReme Medical, Inc.</strong><br />
Based in Pleasanton, CA, TriReme Medical, Inc, is a privately held medical device company dedicated to the development, manufacturing, and commercialization of advanced therapeutic solutions for the treatment of complex vascular disease. TriReme’s headquarter is located in Pleasanton, California.</p>
<p><strong>Contact:</strong><br />
Julie Nguyen, Marketing Communications Manager<br />
IDEV Technologies, Incorporated<br />
(281) 525-2000</p>
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