News: Portfolio 2005

PRESS RELEASE

March 8, 2005

 

Contact:

Sue Bentley

Marketing Director Renal Solutions, Inc.

(724) 772-6900 ext. 109

sue.bentley@renalsolutionsinc.com

 

Renal Solutions™, Inc. Completes $16.5 Million Series B Financing and Will Present at the SG Cowen Health Care Conference

WARRENDALE, PA - March 8, 2005; – – Renal Solutions, Inc., the exclusive provider of advanced sorbent hemodialysis products and services, announced today that it closed a $16.5 million Series B financing round. The round was led by new investors Triathlon Medical Ventures and PA Early Stage Partners, who were joined by several current investors including Birchmere Ventures, Blue Chip Venture Company, and Draper Triangle Ventures.

 

 

"This financing provides us with the capital necessary to introduce the Allient® Sorbent Hemodialysis System to the acute and chronic dialysis markets and to conduct clinical trials for the home market once we receive FDA approval," said Peter M. DeComo, Chairman and CEO of Renal Solutions. "We are very pleased with this vote of confidence from our anchor investors and delighted to welcome our new investors."

 

Suzette Dutch, Managing Partner of Triathlon Medical Ventures, said, "We believe Renal Solutions' innovative technology and strong management team are poised to provide attractive returns by transforming the clinical care model for patients affected by renal failure. We look forward to working with the entire investor group to further assist the successful commercialization of this revolutionary technology."

 

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