Sutura, Inc.
OTC Bulletin Board : SUTU

Sutura, Inc.

March 14, 2007 11:39 ET

Sutura Receives Additional Financing From Whitebox Advisors, LLC

FOUNTAIN VALLEY, CALIFORNIA--(CCNMatthews - March 14, 2007) - Sutura, Inc. ("Sutura") (OTCBB:SUTU), an innovative developer of minimally invasive vascular suturing devices, announced today that it has received an additional $1.5 million in financing from Minneapolis-based Whitebox Advisors, LLC. Whitebox exercised an option to invest an additional $1.5 million in Sutura that was granted as part of a previous financing completed last December.

David Teckman, President and CEO of Sutura, stated, "This financing is another indication of Whitebox's continued support of Sutura. This additional financing is a tribute to the progress and milestones the company continues to reach on the development of its SuperStitch® and HeartStitch® suturing devices."

Following this financing, Minneapolis-based Whitebox and its affiliates will have invested a total of $23.7 million in Sutura.

About Sutura, Inc.

Sutura®, Inc. ( is a medical device company that has developed a line of innovative, minimally invasive, vascular suturing devices to suture the puncture created in arteries during open surgery and catheter-based procedures. The Company's line of SuperStitch medical devices provide sutured closure of the arteriotomy site utilizing the existing catheter sheath introducer or cannula during fluoroscopically guided procedures and directly through the open arteriotomy during open surgical procedures. Within the United States the 8F & 6F SuperStitch devices are available for use in performing vascular stitching in general surgery, including endoscopic procedures. It is not intended for blind closure of an arteriotomy site. The SuperStitch 8F & 6F is approved in the European Union and CE marked with the indication for use as follows: The SuperStitch is indicated for use in performing vascular stitching in general surgery, including endoscopic procedures. In the EU there is no requirement for the use of fluoroscopic guidance. Sutura's headquarters are in Fountain Valley, California. "Sutura®" and "SuperStitch®" are registered trademarks of Sutura, Inc.

Forward-Looking Information Is Subject to Risk and Uncertainty

Certain statements in this press release may contain projections or "forward-looking" information (as defined in the Private Securities Litigation Reform Act of 1995) that involve risk and uncertainty. The words "aim", "plan", "likely", "believe", "expect", "anticipate", "intend", "estimate", "will", "should", "could", "may", "appears", and other expressions that indicate future events and trends identify forward-looking statements. These statements are not guaranties of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Actual outcomes and results may differ materially from what we express or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made and we undertake no obligation to publicly update or revise any forward-looking statements. Our actual results and future trends may differ materially from our forward-looking statements depending on a variety of factors including the ability of the company to raise additional funds necessary for the continued operation of the company, acceptance of the SuperStitch® and HeartStitch® devices by medical providers and the marketplace in general and the success of the proposed sales and marketing plan, the ability of the company to establish a successful distribution relationship with a strategic partner, the continued growth of the vessel closure marketplace and the company's ability to continue to expand and protect its technology patents.

Contact Information

  • Sutura, Inc.
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