SEMPRUS BioSciences Closes $8M Series A financing

Thursday, 11 December 2008 Permanent architectures on device surfaces address healthcare challenges

CAMBRIDGE, MA – December  11, 2008 – SEMPRUS BioSciences, Corp. (SEMPRUS), a privately held biomedical company,  announced today that it has secured $8 million in Series A financing co-led by 5AM Ventures and Pangaea Ventures. Semprus is the developer of an innovative technology platform aimed at reducing medical device complications in areas of infections, thrombus, restenosis and bone integration. The company had previously raised $2.5M in seed financing from private investors and 5AM Ventures.

The SEMPRUS platform adds a permanent, non-leaching surface architecture to medical devices, providing long-term antimicrobial and anti-thrombogenic solutions.  The versatility of the SEMPRUS platform enables it to work with medical device surfaces ranging from plastics (such as catheters) to metals (such as orthopedic implants). The proceeds of this financing will be used to advance SEMPRUS’ product candidates.

“Patients suffer and the cost to hospitals and insurers is escalating due to dramatic increase in infections and other preventable events. Our aim is to alleviate this pain by becoming the industry standard for reducing complications and healthcare costs associated with medical devices,” said David L. Lucchino, chief executive officer and co-founder of SEMPRUS.  “Our investors continue to recognize the significant value that we are building by providing a solution for the delivery of high quality and efficient healthcare.”

“We are excited about the sophisticated approach Semprus is employing to make permanent modifications to medical device surfaces in order to address the significant issue of device related infections and other device related complications,” said Dr. Scott Rocklage, Chairman of SEMPRUS BioSciences and a Managing Partner at 5AM Ventures. “The Semprus platform will do this while playing a revolutionary role in enhancing the long-term efficacy and safety of a broad range of medical devices.”

According to Pangaea Ventures Partner, Dr. Purnesh Seegopaul, “I am excited to be involved with the company whose unique platform will lead the way in harnessing the clinical potential of novel long-term solutions for medical devices. The SEMPRUS team is a well balanced group with the industry, scientific, and entrepreneurial skills that will create a step change for the medical device industry.”

SEMPRUS was founded in 2006 after winning entrepreneurial competitions at MIT, Harvard, Oxford and Cambridge Universities. The four MIT founders are Dr. Robert Langer, an MIT Institute Professor, Chief Technology Officer Dr. Chris Loose, CEO David L. Lucchino, and Dr. Gregory Stephanopoulos, Bayer Professor of Chemical Engineering at MIT.

About SEMPRUS BioSciences, Corp.

SEMPRUS BioSciences is a privately held biotechnology company developing functional surfaces to prevent medical device complications. Its initial product development efforts are focused on the first implantable and permanently antimicrobial and anti-thrombogenic surface technology.  SEMPRUS’ value proposition to purchasers is to reduce the likelihood of medical device complications, the costs of which usually comes out of a hospital's bottom line. Its value proposition to medical users is to improve patient health and reduce liability without requiring a change in practices.

The company has licensed a large patent estate on a worldwide exclusive basis and has assembled a board of directors and management team that draws from companies and institutions such as ARROW International, Cubist Pharmaceutical, J&J, Boston Scientific, and the Massachusetts Institute of Technology.  For more information, please visit the company’s web site at www.SEMPRUSBIO.com.

About 5AM Ventures

Founded in 2002, 5AM Ventures makes seed and early-stage investments in next generation life science companies. Formed by successful industry executives and veteran venture capitalists, the 5AM team takes a focused, hands-on approach to company building. The 5AM portfolio is diversified among innovative platforms, spinouts from established biotechnology and pharmaceutical companies, and companies developing near-term products. With over $200 million under management, 5AM has invested in more than 20 companies during the past five years and is actively investing 5AM Ventures II, a $150 million fund. For more information on 5AM Ventures, please visit www.5amventures.com

About Pangaea Ventures

Pangaea Ventures is a venture capital firm that invests in early-stage advanced materials, energy and environmental technology companies. It has offices in Vancouver and New Jersey and makes investments across the United States and Canada.

Managing two funds at this time, the Pangaea team provides effective support to its portfolio companies with its deep domain knowledge coupled with start-up operational and transactional expertise. Visit www.pangaeaventures.com for more information.

Press Contacts

David L. Lucchino, President and CEO 617-577-7755 x221 SEMPRUS BioSciences, Corp.