Press Release:

TUCSON, Ariz. – May 24, 2004 – SynCardia Systems, Inc., a privately held developer of biomechanical cardiac replacement and assist devices, announced today the completion of a Series B financing of $3.7 million. The round was financed by private investors.

“This round of financing provides strong validation from the investment community on the utility of our Total Artificial Heart system,” said Dr. Marvin J. Slepian, President and CEO, SynCardia. “We are grateful to our investors and plan to use the financing to complete the FDA approval process and further advance the product development and commercialization of the CardioWest™ temporary Total Artificial Heart.”

In addition to completion of the FDA process, SynCardia plans to use the funds to continue development of the CardioWest™ temporary Total Artificial Heart (TAH-t) system, including bringing forward several new, smaller and portable driver technologies that provide greater patient mobility. SynCardia also plans to introduce the TAH system at additional centers in Europe. Finally, the financing may be used as a stepping stone to initiate “next step” clinical studies in the U.S. aimed at patient discharge and “destination therapy.”

###

About the SynCardia temporary Total Artificial Heart
SynCardia Systems, Inc. (Tucson, AZ) is the privately-held manufacturer of the world's first and only FDA, Health Canada and CE approved Total Artificial Heart. Originally used as a permanent replacement heart, SynCardia's Total Artificial Heart is currently approved as a bridge to transplant for people dying from end-stage biventricular heart failure. There have been more than 950 implants of the Total Artificial Heart, accounting for more than 230 patient years of life.

Similar to a heart transplant, SynCardia's Total Artificial Heart replaces both failing heart ventricles and the four heart valves, eliminating the symptoms and source of end-stage biventricular failure. Unlike a donor heart, the Total Artificial Heart is immediately available at SynCardia Certified Centers and does not require expensive anti-rejection medication, which can cause subsequent complications. It is the only device that provides immediate, safe blood flow of up to 9.5 liters per minute through both ventricles. This high volume of safe blood flow helps speed the recovery of vital organs, helping make the patient a better transplant candidate.

SynCardia Ranked #20 Among World's 50 Most Innovative Companies
In March 2011, Fast Company magazine ranked SynCardia #20 in its annual list of the "World's 50 Most Innovative Companies" for "giving mobility to artificial heart recipients." Weighing 13.5 pounds, SynCardia's Freedom® portable driver is the world's first wearable driver designed to power the Total Artificial Heart both inside and outside the hospital. The Freedom driver is CE approved for use in Europe and undergoing an FDA-approved Investigational Device Exemption (IDE) clinical study in the U.S.

For additional information, please visit: http://www.syncardia.com
Like SynCardia on Facebook
Follow SynCardia on Twitter – @SynCardia
Connect with SynCardia on LinkedIn

Media Contact:
Don Isaacs
Vice President of Communications
SynCardia Systems, Inc.
Cell: (520) 955-0660