Press

BaroSense, Inc. Raises $6.2 million in Series A Round

We are pleased to be partnering with the thought leaders in bariatric surgery, gastroenterology, and endocrinology … to develop devices to treat obesity.

Nathan Every, M.D.

Menlo Park, CA and Research Triangle Park, NC – September 20, 2002 – BaroSense Inc., a medical device company specializing in the minimally invasive treatment of obesity, announces that it has secured $6.2 million in Series A financing led by Frazier Healthcare Ventures and Delphi Ventures.

BaroSense Inc., a graduate of the SyneCor incubation model, is focusing on innovative proprietary devices for the treatment of obesity, the largest global chronic disease in adults. SyneCor LLC is a technology accelerator that designs, develops, and rapidly commercializes emerging medical technologies.

It is estimated that more than 250 million people suffer from obesity worldwide. Obesity has also reached epidemic proportions in the US, affecting approximately 40 million US adults. The Obesity Association estimates that 300,000 unnecessary deaths a year in the US can be attributed to obesity. Obese persons are also at an increased risk for diabetes, coronary heart disease, stroke, sleep apnea, stroke, gall bladder disease, several types of cancer, and certain musculoskeletal disorders. Obesity also places an economic burden on the US healthcare system; the estimated direct cost of obesity in 2000 was $61 billion.

“BaroSense is committed to develop and commercialize novel anti-obesity products that not only provide a meaningful contribution to the leading healthcare problem facing the United States today but also have a very attractive financial potential,” said Bill Starling, CEO, BaroSense. “It is our intention to become a leading player in the most significant emerging medical marketplace of our time.”

BaroSense was conceived in order to offer a safe, simple, effective, and minimally invasive alternative to the surgical treatment of obesity. 3Overweight/ Obesity is not simply a cosmetic problem. It causes or aggravates a multitude of major health problems. This is a challenge that must be addressed vigorously on all fronts. The Barosense technology is an innovative approach to assist those people who need help beyond traditional diets, and who wish to avoid mutilating surgery. I am pleased to be associated with it.2 said Peter Cotton MD, BaroSense Scientific Advisory Board Member.

BaroSense has assembled a world-class Scientific Advisory Board which includes thought leaders such as Dr. Peter Cotton, Medical Director of the Digestive Disease Center, Professor of Medicine at the Medical University of South Carolina, Dr. Philip Schauer, Director of Endoscopic Surgery, Director of the Surgical Weight Loss Center, and co-director of the Mark Ravitch/Leon C. Hirsch Center for Minimally Invasive Surgery at the University of Pittsburgh Medical Center, Dr. Steve Eubanks, Assistant Professor of Surgery, Director of the Duke Endoscopy and Endosurgery Center, Duke University Medical Center, Dr. Richard Stack, Executive Director of the Atlanta Cardiovascular Research Institute, Professor Emeritus of Medicine in Cardiology, Duke University Medical Center, Dr. Robert Hawes, Professor of Medicine at the Medical University of South Carolina and adjunct Professor of Bioengineering at Clemson University, and Dr. David Cummings, Assistant Professor of Medicine, Division of Metabolism, Endocrinology and Nutrition, University of Washington.

Financial investors include SyneCor LLC, Frazier Healthcare Ventures, and Delphi Ventures. Nathan Every, M.D., a partner with Frazier Healthcare Ventures, said “We are pleased to be partnering with the thought leaders in bariatric surgery, gastroenterology, and endocrinology in the formation of BaroSense to develop devices to treat obesity, the second leading cause of unnecessary deaths in the U.S.”

BaroSense Inc. will be managed by William Starling, CEO, and Dan Balbierz, General Manager and Vice President of Research & Development. William Starling is an experienced entrepreneur/executive and founder of three successful Silicon Valley cardiovascular businesses and Dan Balibierz was formerly Vice President of Research & Development at Rita Medical Systems and prior to that, Worldwide Director of Research & Development for Johnson & Johnson Medical Inc. – Vascular Access.

About SyneCor, LLC: SyneCor, LLC is a medical technology accelerator company committed to new medical research leading to the development and commercialization of devices to treat unmet medical needs. The company is based in Menlo Park, Calif. and Research Triangle Park, N.C. SyneCor has assembled significant scientific, financial, and corporate partnerships that participate in the SyneCor incubation model. For more information about SyneCor, please visit our web site at www.synecor.com.

About Frazier Healthcare: Frazier Healthcare Ventures, with over $750 million under management, is one of the nation’s premiere providers of early stage venture capital and growth equity to biotech, medical device and other healthcare companies. Established in 1991, Frazier Healthcare has invested in more than 60 emerging healthcare companies and has amassed one of the largest and most domain-experienced, private-equity healthcare investment teams within the venture community. Frazier Healthcare Investment team members include seasoned clinical, scientific, operational and financial professionals who collaborate with entrepreneurs every step of the way. For more information about Frazier Healthcare, please visit the web site at www.frazierco.com.

About Delphi Ventures: Delphi Ventures is a private venture capital firm providing equity financing and supportive business expertise to young biomedical and healthcare companies. Its goal is to contribute added value to the companies it funds by serving as active investors. For more information about Delphi Ventures, please visit the web site at www.delphiventures.com. ???? ?????????? ????????? ???????????? ??????? ? ???????????, ???????????? ??????????. ????? ?? ??????? ??????? ????????? ? ?????????. ???? ???? ?? ??????? ? ???? ???????????. ??? ??????? ???????? ???? ?? ??????? ??????????. ????? ? ???????????? ????? ????? ????????? ?????? ?????????. ???? ????????? ? ???????????? ? ?????? ???????, ??? ????????? ??????? ???????? . ?????? ? ??????? ???????? ????? ?????????? ??????? ????????? ??????, ?????????????? ?? ?????????? ????, ??? ??? ???????? Plumbo, Gold Diggers ? ????????? ????????????? ???? ?????????? ?????, ? ???? ??????????? ???????? ? ??????, ????? ?????????????????, ????????? ???????, ??????????? ??????? ? ????????? ????????????? ???? Diamond Dogs, Disco Spins, ? ????? Evolution. ???? .