ThromboVision Breaks Escrow on $400,000 in Series A Financing

FOR IMMEDIATE RELEASE 

HOUSTON, December 6, 2006 - ThromboVision, Inc., a Houston-based biomedical diagnostics company, has closed on a tranche of $400,000 in Series A financing from private investors.  The company will use the investment to fund clinical trials, build its infrastructure, and advance the FDA approval process for its ThromboGuide® platelet function monitor system.

“This initial funding round will let us expedite ThromboVision’s commercialization strategy,” reports Dr. Edward R. Teitel, president and CEO.

Funding R&D
To date, ThromboGuide research and development has been funded via three rounds of grants from the National Institutes of Health (NIH) totaling nearly $4 million.

Currently in late-stage development, the ThromboGuide (T-Guide®) is a platelet function monitor system. The system consists of a disposable test kit and a point-of-care base unit. The system will help physicians individualize antiplatelet therapy that they use to prevent heart attacks, strokes and stent occlusions. ThromboVision has licensed the patented technology developed by scientists affiliated with the Utah Artificial Heart Research Institute, Brigham Young University and the University of Utah.

Prepared for Manufacturing
In June 2006, ThromboVision moved into a 3,000-square-foot manufacturing and headquarters facility at 8036 El Rio, where the company is beginning to produce its T-Guide® for clinical trials.

In November 2006, the company won the first annual Michael E. DeBakey Life Science Award, presented to a Houston-area company with “leading-edge commercial potential”. ThromboVision was chosen from a field of 18 for the award, which carried a $50,000 cash prize to assist in propelling the company’s technology toward commercial success.

ABOUT THROMBOVISION
ThromboVision, Inc. is a biomedical company committed to enabling people to lead longer and healthier lives. ThromboVision provides easy-to-use, rapid-response, cost-effective, and versatile point-of-care clinical diagnostic discoveries that advance medical diagnosis.  The company’s products will improve medical care by assisting physicians in diagnosing and managing critical cardiovascular risk factors. www.thrombovision.com 
 
ThromboVision is a Houston Technology Center (HTC) client company.  HTC is a business accelerator that assists Houston-based emerging technology companies in key sectors such as Energy, Information Technology, Life Sciences, Nanotechnology and NASA-originated technologies.  www.houstontech.org

SAFE HARBOR STATEMENT
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Statements in this release regarding ThromboVision’s business that are not historical facts are “forward-looking statements,” which involve risks and uncertainties that could cause actual results to differ materially from any future results, performance, or achievements expressed or implied by such statements.
CONTACT:    Edward R. Teitel, MD - 713.491.4449 (office)
                        or
                        Sally I Evans, APR - 713.660.7990 (office) or 713.557.2461 (cell)
 
                        ThromboVision, Inc.
                        8036 El Rio
                        Houston, TX  77054
Author: Sally Evans
Phone: (713) 660-7990
Email:
Category: client companies | Sub Category: personnel