HemoShear, LLC, Raises $5 Million in Angel Equity Financings

August 1, 2009

HemoShear, LLC, a developer of innovative, cell-based, human surrogate models for discovery and assessment of new drug compounds in the laboratory recently completed $5 million in angel equity financings. The funds will be used to launch commercial applications of its human artery model and to develop a human surrogate liver model for discovery and testing of new drug compounds.

“HemoShear’s technology is the only technology capable of accurately assessing the effects of new drug compounds on human organ systems and modeling specific diseases in the laboratory,” said Brian Wamhoff, Ph.D., co-founder and co-inventor of HemoShear’s technology. “Traditional methods, such as cell culture and animal tests, frequently are poor predictors of human responses,” elaborated Brett Blackman, Ph.D., HemoShear’s other co-founder and co-inventor. “Our proof of concept study results, conducted with known drug failures and successes, explain mechanisms of action and correlate very well with responses in humans.”

HemoShear intends to use the funds to add staff and to purchase additional biomechanical flow devices and additional human surrogate models. Biomechanical flow devices embody the HemoShear technology and are used to identify new drug targets and conduct experiments with new drug compounds for pharmaceutical customers. The Company intends to form a subsidiary which will develop a human cell-based model of the liver.

“Our ability to raise capital rapidly during a difficult economy reflects investor confidence in our team and the clear need for innovative technology, such as HemoShear’s human surrogate models, to accelerate the development of promising new drug therapies and reduce costly failures,” said Jim Powers, CEO.