Artes Medical, Inc.

March 29, 2006 09:00 ET

Artes Medical Completes $50 Million Private Equity Financing; Funding to Support Commercial Launch of Lead Product ArteFill®

SAN DIEGO--(CCNMatthews - Mar 29, 2006) -

Artes Medical, Inc., a fully-integrated medical technology company focused on the development, manufacture and commercialization of a new category of permanent aesthetic injectable products, today announced that it has raised approximately $50.7 million in a series of private equity financings involving the sale of its Series E Preferred Stock. Since its inception in 1999, the Company has raised approximately $80 million in private equity financings.

The Series E financings include $7.2 million raised through a subscription rights offering primarily from existing stockholders of the Company, $38.5 million syndicated and raised by National Securities Corporation in association with Empire Asset Management and $5.0 million invested by NGN Capital LLC, a New York-based venture capital firm.

"The funds raised through these equity financings provide Artes Medical with the necessary resources to commercially launch ArteFill® in both the U.S. and international markets, pending the receipt of final FDA approval and the receipt of a CE mark," said Christopher J. Reinhard, Executive Chairman of Artes Medical.

"These important financings enable us to focus on our first product launch with ArteFill, which involves the hiring and training of our direct sales force as well as preparing to initiate physician training for the correct use of this first permanent injectable wrinkle filler, subsequent to receipt of FDA market approval. The financing also provides the Company the opportunity to consider growing through potential strategic product acquisitions and continuation of clinical development of our pipeline products. We believe our investors recognize the market potential of our unique, patented platform technology, which is based on permanent injectable microspheres for soft tissue augmentation," said Dr. Stefan M. Lemperle, Founder and CEO of Artes Medical.

About Artes Medical, Inc.

Artes Medical is a fully-integrated medical technology company focused on the development, manufacture and commercialization of a new category of injectable aesthetic products for the dermatology and plastic surgery markets. The Company's lead product candidate is ArteFill, a permanent aesthetic injectable, for the treatment of facial wrinkles known as nasolabial folds or smile lines. ArteFill is based on the Company's proprietary platform technology, from which other products may be developed.

ArteFill consists of a unique combination of Precision-Filtered Microspheres™ suspended in a carrier gel containing Purified Bovine Collagen™ and 0.3 percent lidocaine. The microspheres are made of polymethylmethacrylate (PMMA), the most commonly used artificial implant material used in the human body. The microspheres act as a support matrix for enduring wrinkle correction. Since the microspheres are permanent, the result is expected to be long-lasting. ArteFill's pre-market approval application (PMA) has been deemed approvable by the FDA. Once ArteFill receives final approval, it will be the first and only FDA-approved permanent injectable implant for the treatment of facial wrinkles known as smile lines or nasolabial folds.

Based in San Diego, Calif., Artes Medical was founded in 1999 and is privately-held. Additional information about the Company and its products are available at Artes Medical and ArteFill, are registered trademarks of Artes Medical, Inc.

Contact Information

  • Schwartz Communications
    Risa Burgess/Nigel Smith
    781-684-0770 or 415-512-0770