Tryton Medical, Inc. Closes $14 Million Financing

NEWTON, Mass., March 31 /PRNewswire/ -- Tryton Medical, Inc., the leading
developer of stents designed for the definitive treatment of bifurcation
lesions announced today that it has closed a $14 million Series C round of
financing. Two new investors, PTV Sciences and RiverVest Venture Partners
joined with Spray Venture Partners in the financing. Rick Anderson from PTV
and Jay Schmelter from RiverVest have been appointed to the Tryton Board of
Directors.
"Bifurcation lesions are an important opportunity in the stent
marketplace. We have reviewed all the technology approaches in development.
The ease-of-use, superb clinical results, and commercialization strategy,
position's Tryton to make a real impact on this important clinical need", said
Rick Anderson, Managing Director of PTV Sciences, and former Company Group
Chairman, Cordis Corporation.
"We are very pleased to have completed this financing with the addition of
PTV and RiverVest," stated Dan Cole, Co-Founder and Board Member of Tryton and
General Partner of Spray Venture Partners. "This capital will allow Tryton to
advance its leadership position with aggressive execution of its European
commercialization strategy and clinical trial plans in the U.S."
The Tryton Side-Branch Stent is a high-performance cobalt chromium balloon
expandable stent, which marries with approved drug eluting stents to
definitively treat the entire spectrum of coronary artery bifurcation lesions.
Bifurcation lesions account for approximately 20% of 2.2 million angioplasty
procedures performed each year. Results from the Tryton I (First-In-Man) Study
demonstrated Tryton's ease of use and unprecedented long term results (3%
Target Lesion Revascularization, Side Branch Late Loss 0.12 plus or minus 0.47
mm and NO side branch failures). Based on the strength of these results,
Tryton recently received CE mark, establishing its leadership position with
the first stent commercially available for bifurcation lesions.
Information on PTV Sciences
PTV Sciences (http://www.ptvsciences.com), founded in 2003, is a leading
life and materials sciences venture capital fund focused on building industry
leading companies and investing in extraordinary people. PTV Sciences has a
team of investment professionals and 13 venture partners representing the
leading clinicians, scientists, academic institutions and entrepreneurs. PTV
Sciences has offices in Austin and Houston, Texas.
Information on RiverVest Venture Partners:
RiverVest Venture Partners (http://www.rivervest.com) is a venture capital
firm investing in emerging medical device, biopharmaceutical and other
healthcare venture opportunities. RiverVest applies both its capital and its
team's diverse range of expertise to create and grow successful enterprises
that address unmet medical needs in major markets.
Information on Spray Venture Partners:
Since 1996, Spray (http://www.spraypartners.com) has provided capital and
management experience to the formation, financing, and strategic growth of
many early-stage medical technology companies throughout the United States.
The firm works closely with clinical and technical founders to create
companies that develop, market and deploy innovative technologies that meet
significant unmet healthcare needs.
Information on Tryton Medical, Inc.
Tryton Medical, Inc. was founded in 2003 by Aaron V. Kaplan, M.D.
(Associate Professor of Medicine at Dartmouth Medical School/Dartmouth-
Hitchcock Medical Center) along with Dan Cole to develop stents for the
definitive treatment of bifurcation lesions. Tryton is based in Newton, MA
with work coordinated by H. Richard Davis (Chief Technical Officer). More
information regarding Tryton can be found at http://www.trytonmedical.com or
by contacting Richard Davis (hrdavis@trytonmedical.com).
SOURCE Tryton Medical, Inc.

Dan Cole of Spray Venture Partners, +1-617-332-6060