SOURCE: Simbionix USA Corporation

July 10, 2006 10:30 ET

Simbionix Signs an Agreement With Johnson & Johnson k.k., Japan, for Developing Virtual Simulation of Laparoscopic Colorectal Procedures

CLEVELAND, OH and LOD, ISRAEL -- (MARKET WIRE) -- July 10, 2006 -- Simbionix USA Corporation (Simbionix), a developer of medical simulators and hands-on curriculum for training medical professionals, announced today that it has signed an agreement with Johnson & Johnson k.k., Japan, for the development of an educational and training simulator for laparoscopic colorectal procedures.

"This new contract is a reflection of Simbionix' strong leadership position in the medical simulator and education market, and signifies the confidence and trust placed in Simbionix' ability to deliver needed solutions," says Gary Zamler, Simbionix' new CEO. "This has been a very good year for us, in which we continue to broaden our close industry partner relationship."

Doron Zilberman, V.P. Sales & Business Development, added, "This contract is an important step in the adoption of simulators for training by the medical community and industry, gradually migrating from the old methods including usage of animal and practicing on live patients. J & J k.k. is one of the global leaders in the MIS field in general and specifically in Professional Education and Surgical Training. There is no doubt that the usage of medical simulators will become a formal and mandatory part of the qualification process of surgeons in the near future."

Simbionix is a global leader in medical simulation and education technologies. The company's mission is to provide state of the art, simulation-based medical education and training systems, and to set the standard for minimally invasive surgical training and performance. Since the successful introduction of the GI Mentor™ to the world market in 2000, Simbionix completed four other medical training simulators, which provide medical experts with hands-on training in a comprehensive array of Minimally Invasive Surgery procedures; the URO Mentor™ -- a simulator for endourology procedures, the PERC Mentor™ for percutaneous access procedures, the LAP Mentor™ -- a multi-disciplinary simulator for laparoscopic skills and surgery procedures, and the recently launched and enthusiastically received ANGIO Mentor™ for interventional cardiologists, interventional radiologist and vascular surgeons that can use it to perform complete procedures, as well as acquiring basic skills.

Since its inception in 1997, Simbionix has raised approximately $11 million. Investors include, among others, Early Stage Partners and Koor Corporate VC. The Company is now in the process of raising additional financing in order to fund the global rollout of its Total Solution simulation product offering.

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