Suneva Medical Signs Multi-Million dollar Line of Credit Agreement

Suneva Medical Signs Multi-Million dollar Line of Credit Agreement
with Western Technology Investment

Additional Financing Used to Fund Suneva’s Growth

SAN DIEGO, CA – December 17, 2009 – Suneva Medical, a privately-held aesthetic medical device company, today announced that it has signed a multi-million dollar line of credit facility with Western Technology Investment (WTI). The line of credit facility will be used to fund commercial support for Artefill®, the only FDA-approved microsphere-enhanced collagen dermal filler on the market today, as well as to expand Suneva’s Aesthetic Market growth objectives.

“Today Suneva Medical entered into a multi-million dollar line of credit deal with WTI with the objective of funding the growth initiatives for both Artefill and Suneva,” said Niv Caviar, President and Chief Executive Officer of Suneva Medical. “This additional capital from WTI combined with the financial commitment and support we continue to receive from Cowen Healthcare Royalty Partners, well-positions Suneva as we look ahead to 2010 and our near term goal of profitability. We are pleased to be working with WTI, a premier debt capital provider and a firm that has a successful reputation of supporting growth enterprises to reach their financial goals.”

The WTI investment was led by Jay Cohan and David Wanek. “We are happy to be entering into this strategic capital alliance with Suneva,” said Jay Cohan, Investment Partner at WTI. “We feel confident that our capital commitment coupled with Cowen’s existing and future capital commitment will help accelerate the company’s growth trajectory.”

Mr. Caviar continued, “With Artefill’s outstanding sales growth in the few months since the product’s re-launch, we are confident in the traction that we’ve gained among our targeted group of physicians in the dermatology, plastic and cosmetic surgery markets. With our additional funding, we will continue to promote Artefill to physicians who wish to offer their patients a safe and long-term option versus the temporary fillers currently in the market.”

About Artefill
Artefill is the first and only FDA-approved microsphere-enhanced collagen filler for the correction of nasolabial folds, better known as smile lines. Since Artefill was approved in 2006, over 20,000 patients have been treated successfully with very high satisfaction rates. For more information visit www.artefill.com.

About Suneva Medical
Suneva Medical, Inc. is a medical technology company focused on developing, manufacturing and commercializing novel, differentiated aesthetic products for the dermatology, plastic and cosmetic surgery markets. The Company’s lead product is Artefill®, the first and only microsphere-enhanced collagen filler for the correction of nasolabial folds, or smile lines. For more information visit www.sunevamedical.com/old.

About Western Technology Investment
Founded in 1980, Western Technology Investment (WTI) is the world’s leading venture debt fund, financing venture-backed companies in the technology, healthcare and cleantech industries.  WTI’s 12th fund builds upon the firm’s successful history, which has included investments in Ablation Frontiers, Brocade, Cerent, Evalve, Facebook, Google, IDEC Pharmaceuticals, Infoseek, IronPort, Juniper Networks, NanoSolar, Postini, Transmeta, and many others.  For more information, please visit www.westerntech.com. 

 

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Important Safety Information

Bellafill®
Bellafill® is indicated for the correction of nasolabial folds and moderate to severe, atrophic, distensible facial acne scars on the cheek in patients over the age of 21 years. Patients who have had a positive reaction to the Bellafill® Skin Test, have a history of severe allergies, have known bovine collagen allergies, are allergic to lidocaine, have bleeding disorders or are prone to thick scar formation and/or excessive scarring should not receive Bellafill®. The safety of Bellafill® for use during pregnancy, breastfeeding, or in patients under 21 has not been established. You may experience temporary swelling, redness, pain, bruising, lumps/bumps, itching, and discoloration at the treatment site. These side effects are usually transient and typically resolve within 1–7 days. You may experience lumps/bumps/papules that may occur more than one month after injection and that may persist. Less common side effects include rash and itching more than 48 hours after treatment, persistent swelling or redness, lumps/bumps, acne, and increased sensitivity at treatment sites. Infrequently, granulomas may occur and may be treated by your licensed physician provider. Be sure to call your licensed provider immediately if you notice any unusual skin reactions around the treatment area. Based on the 5-year Post-Approval Study on nasolabial folds with 1,008 patients, long-term safety of Bellafill® for up to 5 years has been established.

PUREGRAFT
This product is certified as a medical device in the European Union under the Medical Device Directive 93/42/EEC by SGS CE0120, exclusively for the indication of autologous fat transfer. Other non-medical uses ascribed to this device such as aesthetic body contouring are not within the scope of CE certification, and users should be aware product performance and/or safety has not been evaluated by SGS for those purposes.

Suneva Medical HD PRP
REGULATORY STATUS: FDA-cleared 510(k) Class II medical device. Healeon HD PRP is designed to be used for the safe and rapid preparation of autologous platelet-rich-plasma (PRP) from a small sample of peripheral blood at the patient point of care. The PRP is mixed with autograft and/orallograft bone prior to application to a bony defect for improving handling characteristics. 510(k) number: BK170136

Silhouette Instalift
Silhouette lnstaLift® is indicated for use in mid-face suspension surgery to temporarily fixate the cheek sub-dermis in an elevated position.

IMPORTANT SAFETY CONSIDERATIONS
The Silhouette InstaLift device should not be used in patients with any known allergy or foreign body sensitivities to plastic/ biomaterial or in situations where internal fixation is otherwise contraindicated, (e.g. infection.) The device should also not be used in patients appearing to have very thin soft tissue of the face in which the implant may be visible or palpable.

Like all procedures of this type there is a possibility of adverse events, although not everybody experiences them. These adverse events include but are not limited to infection, minimal acute inflammatory tissue reaction, pain (which may be temporary or persistent in nature), swelling and edema, transient hematoma or bruising and transient rippling or dimple formation. For further safety or product information, please consult your physician.

For more safety information, please consult with your physician and the patient labeling that can be found by visiting our website www.bellafill.com.
Toll-free call (U.S. & Canada): 844-Bellafill (844-235-5234).
Local calls: 858-550-9999. International calls: ++ 858-550-9999.