PEAK Surgical Inc. Closes $21 Million Series C Financing

PALO ALTO, Calif. (February 4, 2008) – PEAK Surgical, Inc., a medical device company that is developing a new category of tissue dissection systems based on a proprietary technology,today announced that it has raised $21 million in a Series C financing led by new investor Signet Healthcare Partners. The company also announced that Joyce Erony, managing director of Signet Healthcare Associates, has joined PEAK Surgical’s board of directors. Existing investors Lehman Brothers and Venrock Associates also participated in this financing round.

"The size, valuation and timing of this financing validates the progress we have made in advancing our pulsed plasma technology and developing our flagship product, the PEAK Surgery System," said John Tighe, president and chief executive officer of PEAK Surgical."This financing allows us to aggressively pursue the development plan and commercialization efforts for our PEAK Surgery System, which we believe represents a quantum leap over surgicali nstruments in use today and will revolutionize the way surgery is performed. We believe it may have applications in more than 2 million surgical procedures."

The PEAK™ Surgery System includes the PEAK PlasmaBlade™, a disposable cutting tool that offers the exacting control of a scalpel and the bleeding control of traditional electrosurgery without the extensive collateral damage. PEAK Surgical has filed a pre-market notification (510k) with the U.S. Food and Drug Administration (FDA) for the PEAK Surgery System. The company also has started setting up manufacturing for the PEAK PlasmaBlade and is establishing a national sales force to distribute the device once the 510k has been cleared bythe FDA.

"PEAK Surgical has the financial foundation, management team and technology platform in place to ensure rapid development of its next-generation tissue dissection system," Erony said. "We believe PEAK Surgical’s pulsed plasma technology has broad applicability across numerous surgical fields and that the PEAK PlasmaBlade may offer a new alternative for surgeons to provide better outcomes for their patients, including reduced scarring and faster recovery."

PEAK Surgical has raised more than $29 million to date in three rounds of private financing.

About PEAK Surgical, Inc.
PEAK Surgical, Inc. is a medical device company that has developed the PEAK® Surgery System, a new tissue dissection system based on a proprietary technology that represents an important advance in radiofrequency surgical technologies. The PEAK Surgery System consists of the PEAK PlasmaBlade™, a family of disposable cutting devices that offer the exacting control of a scalpel and the bleeding control of traditional electrosurgery without extensive collateral damage, and the PULSAR® Generator, which supplies pulsed plasma radiofrequency energy to the PlasmaBlade. The PEAK Surgery System is cleared for use in general, plastic and reconstructive, ENT, gynecologic, orthopedic, arthroscopic, spinal and neurological surgical procedures in the United States, and for use in general surgery in the EU. For more information, please visit www.peaksurgical.com.