Accumetrics secures $24 million in capital infusion

Accumetrics, Inc., a privately-held developer and marketer of the VerifyNow® System, the first rapid and easy-to-use point-of-care system for measuring platelet reactivity to multiple antiplatelet agents, announced today that it has completed its capital financing efforts, the first round of which was announced in the Fall of 2009.  The Company raised an additional $7 million in this round and secured a total of $24 million in new capital.  The capital infusion is expected to fund the company to profitability and comes primarily from the company's existing investors, including Arnerich Massena, BBT Fund/Apothecary Capital, Essex Woodlands Health Ventures, Rivervest and Kaiser Permanente.

Accumetrics' VerifyNow System helps physicians assess patients' response to all major types of antiplatelet therapies such as aspirin, P2Y12 inhibitors (e.g. Plavix®, Effient® ) and GP IIb/IIIa inhibitors (e.g. ReoPro® and Integrilin®). As patient response to these drugs varies, the VerifyNow tests help physicians ensure their patients are receiving the optimal benefit from their antiplatelet therapy. The VerifyNow System is widely used in various clinical settings where antiplatelet medications are prescribed to reduce the occurrence of future thrombotic events such as heart attack and stroke.

"The closure of this financing demonstrates continued and unwavering confidence from our investor base," said Timothy I. Still, President and CEO of Accumetrics. "We are excited to be positioned at the forefront of a major market shift in the healthcare sector where medical diagnostics will play a greater role in personalizing patient treatment."

The Company expects to use the proceeds from this financing to fund the completion of a number of key milestones including the company's GRAVITAS trial, its CLIA waiver application for the VerifyNow P2Y12 Test currently under review with the FDA, and continued expansion of its global commercialization efforts.

SOURCE Accumetrics, Inc.