PhysioSonics, Inc. Closes $4.0 Million Investment

Tue Jun 3, 2008 9:12am EDT

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SEATTLE--(Business Wire)--
PhysioSonics, Inc., an innovator of noninvasive neurologic
products, announced today the first close of its Series A financing
with an investment from Johnson & Johnson Development Corporation
(JJDC). This funding brings the total Series A raised to over $4.0
Million. The company will use these funds for commercialization of
their first product. "We are excited to work with JJDC and the Johnson
& Johnson companies as we commercialize our technology," says Brad
Harlow, President & CEO of PhysioSonics

   Additionally, PhysioSonics partnered with Verasonics, a Redmond,
Washington developer of ultrasound software, just prior to this
financing. Common shares in PhysioSonics were granted to Verasonics to
create a larger technology and intellectual property base from which
to commercialize noninvasive neurologic products. This partnership was
formed for the development and commercialization of new products
utilizing a combination of both companies' respective technologies and
intellectual property resources. "It is gratifying to see continuing
progress and validation of our years of effort", added Robert
Frederickson, PhD, Chairman of the company.

   About PhysioSonics, Incorporated

   PhysioSonics, formerly known as Allez PhysiOnix, is a privately
held company, founded in 2000 with technology developed at the
University of Washington. The company has developed and patented a
number of new technologies including an ultrasound-based technology to
provide a transcranial Doppler (TCD) neuromonitor. Its founders
include Robert Frederickson Ph.D., Michel Kliot M.D., Pierre Mourad,
Ph.D., and Jeffrey Jarvik, M.D., MPH.

   Verasonics is a privately held company located in Redmond,
Washington. Verasonics was founded in 2002 to advance medical
ultrasound technologies. The company has developed unique ultrasound
architecture and software with certain applications in PhysioSonics'
field of interest. Its founders include Ron Daigle, Ph.D and Lauren

   About Johnson & Johnson Development Corporation

   Organized in 1973, Johnson & Johnson Development Corporation
(JJDC) is the venture capital subsidiary of Johnson & Johnson
(NYSE:JNJ). JJDC makes private equity investments in venture funded
health care companies. Portfolio companies include those in the fields
of pharmaceuticals, biotechnology, medical devices, diagnostics and
consumer products. JJDC also leads and manages internal investments in
selected promising technologies.

Brad Harlow, President & CEO

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