Tomophase Corporation Closes $4.5 M Series A Financing Round

BURLINGTON, MA –November 23, 2005 - Tomophase Corporation, a leading developer of non-invasive opto-medical devices, announces the completion of a $4.5 M Series A round of private equity financing. The capital raised will fund continuing product development and manufacturing as well as clinical development activities. The financing round was led by Sanderling Biomedical Venture Capital in conjunction with a private investor group from the original seed round of financing.

“The funding decision by Sanderling is a strong endorsement of our patented approach to opto-medical devices and our business direction. Sanderling has many years of experience in bringing medical devices to the marketplace and we look forward to collaborating with them on the commercialization of our multi-modal tissue analyzer,” said Dr. Feiling Wang, President.

Dr. Peter Norris, CEO, commented, “Tomophase now has the means to proceed with an active staffing program aimed at attracting the best optic and electronics talent available to join us in our committed attack on some of the most deadly diseases. Based on initial discussions with several leading first wave adopters at top clinical centers, we expect rapid deployment and acceptance as the standard of care as clinical trials are completed.”

Tomophase devices address the needs in oncological and cardiovascular medicine where early and minimally invasive diagnosis is key to successful treatments. The company’s initial focus will be applying its technology to the early stage diagnosis and treatment of lung cancer, the worlds leading cause of cancer death. If detected in an early stage, the 5 year survival rate of the lung cancer patients is over 85%. However, the early stage is asymptomatic and detection is primarily by chance. After the patients present with symptoms, the 5 year survival rate drops to 10-15%. Screening via CT scan may soon be accepted for high risk groups to reveal the presence of solitary pulmonary nodules (SPNs). Currently there is no means to differentiate between malignant and benign SPNs other than pulmonary biopsy, itself a risky procedure. Tomophase has patented technology which will, in conjunction with existing tools, enable the early-stage diagnosis in a non-invasive and reliable way.

Tomophase Corporation is a privately held, developmental stage opto-medical devices company has headquarters in Burlington, MA. Tomophase was founded in 2003 and is focused on the development and commercialization of its patented technology for minimally invasive opto-medical devices.

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