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Texas`s Emerging Technology Fund Makes $250,000 Investment in SEMMT

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Wed Jun 10, 2009 6:59pm EDT

Company Plans to Market Innovative Surgical Kit for "Off-Bypass" LVAD
Implantation


HOUSTON--(Business Wire)--
SEMMT, Inc., a Houston-based medical device company, received an investment
award of $250,000 presented by Governor Rick Perry as part of the Texas Emerging
Technology Fund (TETF) award ceremony at the Houston Technology Center on
Friday, June 5, 2009. As part of the TETF agreement, an additional $750,000 has
been reserved for the company if it achieves specific milestones. 

SEMMT is developing tools and techniques that will revolutionize surgical
methods of implanting left ventricular assist devices (LVAD). The SEMMT
technology is a surgical kit that enables surgeons to implant LVADs on a beating
heart without a heart lung machine, thereby eliminating the need to place the
patient on cardiopulmonary bypass. The goal of the SEMMT technology is to make
the procedure safer by reducing the risk of bypass-related complications and
deaths. 

According to the Center for Medicare and Medicaid Services, in 2008, the US
spent over $34.8 billion in the management of cardiovascular-related conditions.
There are currently more than 5 million Americans suffering with congestive
heart failure and 55,000 of these patients die each year. 

For many of these patients LVADs are the only viable long-term option. 

The low utilization of LVAD technology in 2008 (~3,700 units) is due in part to
the perception that it is a procedure of last resort. Currently, many patients
being referred for LVAD implantation are exposed to two major areas of increased
risk:

* Increased incidence of kidney, liver or lung failure resulting from systemic
inflammatory response after being placed on cardiopulmonary bypass 
* Excessive bleeding following the use of anticoagulants for postoperative
management

"Our technology is an enabler and should accelerate the adoption and application
of LVADs across the cardiovascular surgery community," said Mr. Morcho,
President of SEMMT, Inc. "The TETF funds will help us accomplish key milestones
and have our surgical kits ready for market by early 2011." 

Since April 2007, SEMMT has been managed by AlphaDev, LLC, a Houston-based
early-stage life science management and investment company sponsored by Aquinas
Companies, LLC. As part of its management and investment agreement with SEMMT,
AlphaDev has provided both capital and active managers to validate the SEMMT
technology concept and help advance SEMMT`s product development plan. 

"The AlphaDev approach, with their experienced management, has proven to be a
capital-efficient method of developing our company effectively in this tough
economic climate," said William E. Cohn, MD, SEMMT co-founder, serial inventor
and leading Cardiovascular Surgeon with the Texas Heart Institute in Houston,
TX. 





SEMMT, Inc.
President
Ngu H. Morcho, MBA, 713-966-5829
ngu.morcho@semmtinc.com
ngu.morcho@alphadevllc.com
www.semmtinc.com
or
AlphaDev, LLC
Dr. Martin Lindenberg, 832 545-5392
martinL@alphadevllc.com
www.alphadevllc.com
or
Texas Emerging Technology Fund
http://www.emergingtechfund.com


Copyright Business Wire 2009

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