AngioLight Lands Strategic Partnership with Medical Technologies Innovation Asia, Names Gary Saxton President

  AngioLight Lands Strategic Partnership with Medical Technologies Innovation
  Asia, Names Gary Saxton President

Business Wire

MEDFORD, Mass. -- February 20, 2013

Interventional cardiology medical device company AngioLight has engaged in a
strategic partnership with Medical Technologies Innovation Asia (MTIA), Hong
Kong, under which MTIA will complete safety, animal and clinical studies of
AngioLight’s light-based diagnostic catheter in exchange for equity in
AngioLight. Developed to support the eventual commercialization of
AngioLight’s catheter first in China and then worldwide, the partnership will
be managed by AngioLight’s newly appointed president, Gary Saxton, who
previously served as business development consultant to the company.

AngioLight’s novel light-based diagnostic catheter provides cardiologists
real-time vessel diameter and area measurements as an adjunct to coronary and
peripheral stenting procedures. Designed to improve proper stent sizing and
placement and therefore, reduce post-operative restenosis and thrombosis, the
device delivers diagnostic data beyond the capacity of fluoroscopy and at a
fraction of the cost of vascular imaging modalities such as intravascular
ultrasound (IVUS) and optical coherence tomography (OCT).

The market for AngioLight’s technology is significant. Within interventional
cardiology, stenting and angioplasty represent $12 billion worldwide. All
indications point to continued growth, particularly in China, where
interventional cardiology procedures are rising rapidly and the adoption of
IVUS and OCT has been limited. The new strategic partnership gives AngioLight
unique access to the Chinese market, where MTIA has established sales channels
in more than 1,000 hospitals spanning the country’s provinces.

“AngioLight’s technology has the potential to fill a significant unmet
clinical need in interventional cardiology by reducing the potential for
complications following stenting,” said Saxton. “While the worldwide market
potential for our device is clear, we see a uniquely high growth opportunity
in China, where the patient need exists and an advancing healthcare system is
moving towards improved standards of care. Our collaboration with MTIA will
allow us to capitalize on this opportunity with expert, on-the-ground
resources who can help move our technology through the development phase and
into the hands of physicians.”

Saxton brings to AngioLight a variety of public and private company leadership
experience in the medical device industry. Prior to AngioLight, he served as
the chief executive officer of Atherolysis Medical Inc.; president and chief
executive officer of FlowMedica Inc.; and, chief operating officer of
BioSphere Medical. He has also held executive positions in business
development, strategic planning, and sales and marketing at companies
including Symphonix Devices Inc., CardioGenesis Corp. and Medtronic.

In a sign of investor confidence in the AngioLight’s future potential and new
strategic partnership, the company has also raised more than $4 million in an
oversubscribed Series C financing from existing investors.

“Our oversubscribed C round is a testament to AngioLight’s technology, our
leadership and our new strategy,” said Steven Slavsky, AngioLight’s chief
executive officer. “Between the new financing and our equity relationship with
MTIA, we are well positioned for future success – in China, and around the
world.”

About Medical Technologies Innovation Asia

Medical Technologies Innovation Asia (MTIA) is a fully integrated medical
device company focused on delivering game-changing technologies that improve
existing standards of care. Headquartered in Hong Kong, the company has
manufacturing and sales facilities throughout mainland China. MTIA has
established sales channels in more than 1,000 hospitals across China’s
provinces, including national, top-tier regional and military institutions.

About AngioLight Inc.

Based in Medford, Mass., AngioLight is an interventional cardiology medical
device company founded to address unmet clinical needs in coronary and
peripheral stenting. The company has developed a novel light-based diagnostic
catheter to improve proper stent sizing and placement, and ultimately, patient
outcomes.

Contact:

Nobles Communications
Laura Nobles, 310-795-0497
laura@noblescommunications.com