Press Release
Waltham, MA – February 28, 2007–
HyperMed, Inc., the leader in hyperspectral medical imaging, today
announced it has secured $5 million in Series A financing from
Greenwich Biotech Partners. Proceeds from this financing will
be used to market, sell and support HyperMed’s recently
FDA-cleared hyperspectral imaging product, OxyVu™.
HyperMed’s flagship diagnostic device, OxyVu, provides
clinicians with the first FDA-cleared medical hyperspectral system
to non-invasively and quantitatively assess tissue oxygenation
in patients with diabetes and peripheral vascular disease. OxyVu
enables the physician to “see” the Oxygen Anatomy
™ of the patient’s tissue at the bedside.
HyperMed believes that the better assessment of tissue oxygenation
will lead to improved health outcomes for people suffering from
these diseases.
Dr. Jenny Freeman, President and CEO of HyperMed, commented "We
are extremely pleased to be working with Greenwich Biotech Partners
(GBP) as we enter the exciting commercial phase of the Company’s
development. This is the culmination of a decade of research and
development at HyperMed. The relationship with GBP and its industry
leaders, David Wetherell and Douglas Lind, now permits us to deliver
this important new tissue assessment tool to the medical community.”
HyperMed has created OxyVu as a new tool for physicians to use
in their diagnosis and treatment to improve outcomes. “HyperMed’s
OxyVu technology provides physicians the opportunity to significantly
reduce complications associated with diabetic foot ulcers and
peripheral arterial disease, which today cost the United States
medical system over $15 billion annually”, said Rick Lifsitz,
SVP of Corporate Development at HyperMed.
“HyperMed has already demonstrated remarkable vision and
execution in its leverage of a proven imaging technology in the
defense and airborne industries toward the benefit of mankind
in the healthcare setting. We are proud to be associated with
this innovative effort,” commented Douglas Lind.
Medical professionals that that will use HyperMed’s OxyVu
to benefit their patients include vascular surgeons, foot and
ankle surgeons, endocrinologists, orthopedists and wound healing
professionals.
About HyperMed, Inc.
HyperMed, based in Waltham, MA, is the leader in applying hyperspectral
analysis to medical applications. Having been presented at numerous
national and international meetings including the American Diabetes
Association, the American Heart Association, American Association
for the Surgery of Trauma, and the World Congress of Cardiothoracic
Surgery and published in numerous journals, including The Lancet,
The Journal of Trauma and Microvascular Complications Today, HyperMed’s
OxyVu technology is now commercially available to address diabetic
foot ulcers and peripheral arterial disease.
In addition to studies of patients with diabetic foot ulcers
and peripheral arterial disease, HyperMed has conducted research
in the areas of shock and breast cancer. For more information
about HyperMed, Inc, and the OxyVu System please visit website
www.hypermed-inc.com.
About Greenwich Biotech Partners
Greenwich Biotech Partners is a Greenwich, CT-based private equity
firm focused on financing innovation in the life sciences. The
firm was founded in early 2005 by David S. Wetherell, founder
and former CEO of CMGI and innovator in the technology and Internet
industries. GBPs’ mission is to improve the human condition
by investing its partners’ capital in the most promising
early- to mid-stage life science companies. For further information
about GBP please visit website www.greenwichbiotech.com.
Press Contacts:
HyperMed, Inc.
Richard Lifsitz
SVP, Corporate Development
781-487-5760
rlifsitz@hypermed-inc.com
Greenwich Biotech Partners
Douglas D. Lind, M.D.
Managing Partner
(203) 769-2348
dlind@gbpcapital.com
www.greenwichbiotech.com
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