REDMOND, Wash., Jan. 29 Healionics Corporation, a providerof tissue regeneration and device biointegration solutions to healthcaremanufacturers, today announced that it has raised $1.7 million in a Series Afinancing. The financing was led by individual investors including CarlLombardi, former CEO of SpaceLabs Medical and Sam Naficy, M.D., MedicalDirector of Naficy Plastic Surgery & Rejuvenation Center.
"We are pleased to secure this financing, which provides recognition ofour technology platform and allows Healionics to continue expanding thepotential of STAR materials to enhance current and next generation medicaldevices," said Rob Brown, Chief Executive Officer of Healionics. "These fundswill be used specifically to scale up the STAR material manufacturing process,to expand and accelerate preclinical studies of STAR materials and to advanceour business development activities."
Healionics' propriety STAR Material -- Sphere Templated AngiogenicRegenerative Material -- is specifically engineered to enhance biointegrationand promote healing. Described as the 'Gore-Tex(TM) of biomaterials,' STAR isdesigned to enable the biocompatibility of a wide range of medical devicesthat are implanted into the body.
"Healionics has a very promising technology that offers widespreadopportunities in a rapidly expanding cosmetic market," said Sam Naficy, M.D."It is this versatility and expansiveness that make Healionics a veryattractive business model, and I look forward to the future advancement ofthis Company."
Healionics was formed in March 2007. To date, Healionics has entered intomultiple agreements for the advancement of its STAR(TM) material into variousmarket applications including diabetes, wound care and infusion therapy.
About Healionics Corporation
Healionics is a privately held biomaterials company whose mission is to bethe leading partner of tissue regeneration and device biointegration solutionsto healthcare manufacturers. Healionics has licensed STAR Material -- SphereTemplated Angiogenic Regenerative Material -- that works with the body topromote healing and enables the biocompatibility of a wide range of medicaldevices that are implanted into the body. Healionics was voted the BestTechnology Investment Opportunity at the Zino Society's 2007 ZillionaireInvestment Forum and was recently named "Most Promising New Biotech Firm of2007" by Seattle Business Monthly. Healionics will debut its technology as anexhibitor (booth #790) at the Medical Design & Manufacturing West (MD&M West)2008 conference, Jan. 29-31 in Anaheim, Calif. Healionics Corporation isheadquartered in Redmond, Washington. For more information, please visithttp://www.healionics.com.Contact: Julie Rathbun Rathbun Communications, Inc. (206) 769-9219 Julie@rathbuncomm.com
SOURCE Healionics Corporation