BW0161 SEP 15,2000 8:04 PACIFIC 11:04 EASTERN
(BW)(CA-MICRUS-CORPORATION) Micrus Corporation Announces Completion of $21.2
Million Preferred Stock Financing with European and U.S. Institutional Investors
Business Editors/Health & Medical Writers
MOUNTAIN VIEW, Calif.--(BW HealthWire)--Sept. 15, 2000--Micrus Corporation today
announced that the Company completed the placement of $21.2 million of Series D Convertible
Preferred Stock with an investor group led by NMT New Medical Technologies of Switzerland.
The investor group was composed of NMT, MicroValue AG (Switzerland), PolyTechnos
Venture-Partners (Germany & Belgium), Dresdner Kleinwort Benson (US/Europe/Asia) and
UBS affiliate aventic AG (Switzerland), as well as certain U.S. investors and current
shareholders of the Company.
"I am delighted to be working with this international group of investors," said J. Todd
Derbin, president & chief executive officer of Micrus. "They are of the highest caliber, and will
contribute much to Micrus with their expertise. Micrus is now solidly positioned to focus on
becoming the market leader in the development of high value added therapeutic devices for
"NMT led this financing because the first business opportunity for Micrus is in Europe,"
commented NMT partner Andre Lamotte. Micrus Corporation, based in Mountain View, Calif., is
a closely held, private company developing therapeutic systems for the minimally invasive
treatment of neurovascular disease. Micrus's lead product, the ACT(TM) MicroCoil System, is
designed for the treatment of ruptured or unruptured cerebral aneurysms. More than 70 patients
have been treated with the ACT System worldwide, and Micrus Corporation is currently
launching the ACT MicroCoil System in the European market, where it has already been
approved for commercial sale.
"The usage of coils for cerebral aneurysms is higher in Europe," said Lamotte. "That is
why the ACT MicroCoil System got high a