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Pathway Medical closes $25 million Series B funding raising


Amsterdam, The Netherlands, November 2nd, 2006 - ABN AMRO Capital Life Sciences (AAC LS) announces its participation in a $25 million Series B financing of Pathway Medical, an innovator of endovascular treatments for peripheral arterial disease (PAD). HLM Venture Partners led the round and with Latterell Venture Partners were new investors. Existing investors also participating in the round alongside AAC LS, were Giza Ventures and Oxford Bioscience.

The funds raised will enable Pathway to take its Pathway PV™ System through to US market launch in 2008.

Pathway CEO and President Tom Clement commented, “We are very pleased with this financing and the addition of HLM and Latterell as investors in Pathway. This investment round not only endorses our team but also our technology and its potential in the marketplace.”

Martien van Osch, director at AAC LS and non-executive director at Pathway Medical said, “We are proud to support the future activities of this exciting Company and have great confidence that its professional management team will generate substantial value. The device of Pathway Medical has shown solid clinical results so far and addresses an increasing market in US and global society.”

AAC LS became an investor in Pathway in its $15 million Series A in March 2005 at the point where the company had redirected its technology on peripheral vascular diseases.

The Pathway PV™ System is a rotating, aspirating, expandable catheter intended for the active removal of atherosclerotic debris and thrombus from peripheral vascular system. It is unique in its ability to remove hard, calcified plaques with reduced risk of haemorrhage.

PAD is a serious disease affecting an estimated 14 million people in the U.S. PAD results when atherosclerotic obstructions cause narrowed or blocked arteries that reduce blood flow to the arms or legs. These blood flow restrictions can cause severe pain while performing relatively simple tasks. Over time, avoiding treatment could result in more severe complications, such as skin discoloration, infections and sores that will not heal and, in extreme cases, eventual amputation.


ABN AMRO
Netherlands-based ABN AMRO is a leading international bank with total assets of EUR 999 bln (as at 30 September 2006). It has more than 4,500 branches in 53 countries, and has a staff of more than 110,000 full-time equivalents worldwide. ABN AMRO is listed on Euronext and the New York Stock Exchange. Netherlands-based ABN AMRO is a leading international bank with total assets of EUR 999 bln (as at 30 September 2006). It has more than 4,500 branches in 53 countries, and has a staff of more than 110,000 full-time equivalents worldwide. ABN AMRO is listed on Euronext and the New York Stock Exchange.


About ABN AMRO Capital Life Sciences
ABN AMRO Capital/Life Sciences (AAC LS) is the venture arm of ABN AMRO Bank N.V. of the Netherlands. AAC LS builds and finances life sciences companies that develop world-class technology with a clear focus on products for major markets. Of particular interest are businesses capable of improving the diagnosis and treatment of disease, as well as companies with technologies that accelerate drug discovery and development. Over the past 7 years, through investments in more than 30 companies in both Europe and the US, the AAC LS team has achieved considerable success and above average returns. For further information visit: www.abnamro-lifesciences.com.


About Pathway Medical
Pathway Medical Technologies, Inc., located in Redmond, Washington, was founded in 1998 to design, develop and manufacture innovative medical devices intended for the treatment of arterial disease. The company’s current focus is on peripheral artery disease.


For further information contact:
At ABN AMRO Capital:
Life Sciences Team
Postbus 5187
1410 AD Naarden
The Netherlands
Tel.: + 31 (0) 35 699 3000
Fax: + 31 (0) 35 699 3001
martien.van.osch@


Publisher Contact Information:

ABN AMRO
+44 (0)20 3008 7557
a.entress@northbankcommunications.com

Company profile of ABN AMRO
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