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Scandius BioMedical Raises $4 Million in Series B Round

Littleton, MA - January 20, 2004 - Scandius BioMedical, Inc., an early stage medical device company focusing on the development of minimally invasive orthopaedic implants and surgical instruments, has raised $4 Million through the private sale of Series B preferred stock.

The financing was led by New York city-based KBL Healthcare Ventures. KBL was also joined in the round by Commerce Health Ventures and Ivy Healthcare Capital. All three firms were first time investors in the company.

Founded in June of 2000 by President and CEO Mark A. Johanson, proceeds from the financing will be used for working capital, continued research and development activities, and establishment of the company's sales and marketing network.