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May 05, 2004

PhotoThera Raises $19 Million Series B funding

San Diego, California (BUSINESS WIRE) PhotoThera Inc., a developer of medical devices for major unmet medical conditions, announced today that it closed on $19 million in funding. Participating investors included, Delphi Ventures, DeNovo Ventures, the Vertical Group, Hamilton Apex Ventures and Solstice Capital.

"We are pleased to have such a group of high quality investors to help us develop our technology. We will use the proceeds from this round to conduct further clinical research and new product development," said President and CEO Jackson Streeter M.D.

PhotoThera Inc. is pioneering the use of therapeutic laser technology for treatment of major unmet medical needs. The Company is located in Carlsbad, California and has an active research and development program. For more information see www.photothera.com .