SOURCE: Global Life Science Ventures AG

March 29, 2007 04:31 ET

GLSV co-leads Series E investment in Coapt Systems

ZUG, SWITZERLAND -- (MARKET WIRE) -- March 29, 2007 --

Zug/Munich, 29 March 2007 - Global Life Science Ventures (GLSV) today announced that it has co-led a $22.6 million Series E financing round in Coapt Systems, Inc., a company based in Palo Alto, California that is developing bioabsorbable implants for use in aesthetic surgery. The round, led by Easton Capital, also included existing investors Alta Partners, Asset Management Company, Canaan Partners, Boston Millennia Partners, and Foundation Medical Partners.

Coapt Systems, founded in 2000, has developed an innovative range of implantable soft tissue fixation devices under the EndotineÔ name for use in facial plastic surgery. It has already built up a market presence in 38 countries, including 2'300 plastic surgeons in the USA, and generated good revenue growth. The company's rich pipeline also includes long-lasting dermatological fillers, currently in late-stage clinical development and to be used as a complement to the fixation devices, as well as an implantable and absorbable hand tendon repair device. The new financing round will support Coapt's launch of the dermal filler product range and the in-licensing of additional aesthetic products, which will allow the company to capitalize on its market presence and global distribution network in the high-growth worldwide aesthetic market, already valued at $25 billion.

Stephen J. McCormack, PhD, Partner at GLSV, commented, "Coapt Systems has rapidly built up a broad pipeline of products with solid patent protection addressing unmet needs in the very large aesthetic surgery market. The strong management team, headed by Kenneth Anstey, has a wealth of experience in medical devices, with several successful exits, and we see excellent perspectives to generate attractive returns in the near future. GLSV has once again joined forces with international syndicate partners to capitalize on an exciting investment opportunity." Dr. Stephen J. McCormack will become a member of the Board of Directors of Coapt Systems.

Kenneth Anstey, CEO of Coapt, commented, "We are pleased to welcome on board such experienced life science investors as GLSV and Easton to support the future development of the Company. Having a European investor will bring much value to Coapt as we begin to expand outside of the United States."

Hans A. Küpper, PhD, Partner at GLSV, added, "This investment fits very well within our portfolio of innovative companies and is consistent with GLSV's strategy of maintaining a balance in developmental stage and field of indication."

About Global Life Science Ventures:

GLSV is a leading, independent venture capital fund focusing exclusively on the life sciences. With offices in Germany and Switzerland, GLSV is dedicated to supporting early-stage companies originating from universities, scientific institutions or industry, but also invests in selected later-stage companies, including buy-outs. The group currently advises and manages funds totalling more than EUR 200 million. GLSV has financed 32 innovative life science companies, twelve of which have completed an exit through IPO, trade sale or M&A. GLSV has built up a broadly diversified portfolio of companies in pharmaceuticals, diagnostics, medical devices, and biotechnology.

Global Life Science Ventures

Industry-born team - Proven track record - Global perspective

Germany                    Switzerland
GLSV GmbH                  GLSV AG
Von-der-Tann-Str.3         Postplatz 1, P.O. 626
D - 80539 München          CH - 6301 Zug
Tel. +49 (0)89 288 151 0   Tel. +41 (0)41 727 19 40
Fax  +49 (0)89 288 151 30  Fax  +41 (0)41 727 19 45

For additional information, please contact:

Rochat & Partners
Christophe Lamps or Jonathan Leighton
Tel. +41 22 718 37 46
Fax  +41 22 786 54 58

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