TransEnterix™ Secures $21 Million in First Round of Institutional Financing

RESEARCH TRIANGLE PARK, N.C. (December 31, 2007) Synecor, LLC and SV Life Science Advisers, LLC announce today the first round of institutional financing for TransEnterix, Inc., a Synecor-founded company focused to pioneer and deliver novel, less-invasive tools and techniques for high volume gastro-intestinal surgical procedures. The first round of institutional financing secures for TransEnterix $21 million of raised and committed funds. The capital will be used to deliver the initial product platforms and further develop the next generation product platforms of TransEnterix.

Investors in this first round of institutional financing include SV Life Sciences, which led the financing, Parish Capital Advisers, LLP, and Synergy Life Science Partners, LP.

“TransEnterix is another outstanding opportunity brought forward by Synecor. The technologies are proprietary, the envisioned products are highly-innovative, and the target market is large and growing,” said Richard Stack, MD, FACC, President, Synecor.

“We believe that TransEnterix will be able to launch a pipeline of products which will have a very positive impact on surgery techniques,” David Milne, Managing Partner, SV Life Sciences Advisers commented. “Further, the opportunity closely fits with our objective to invest with experienced entrepreneurs and management teams.”

“We are pleased to have such high-quality investors involved with us on TransEnterix. With this capital and these investors, we now look forward to the work in delivery of our innovative product platforms,” said Bill Starling, CEO, Synecor and interim CEO, TransEnterix.

Founded in 2006, TransEnterix is based in Research Triangle Park, North Carolina.

About Synecor, LLC. and SV Life Science Advisers
Synecor, LLC (www.synecor.com) is a privately-held business accelerator focused on creating highly-proprietary, disruptive technologies in the largest medical device and combination drug/device markets. Companies founded by Synecor include BaroSense, Menlo Park, CA, BioStent – Bioerodible Vascular Solutions, Mountain View, CA, InnerPulse, Research Triangle Park, NC, and TransEnterix, Research Triangle Park, NC.

SV Life Sciences Advisers, LLC (www.svlsa.com) is a life sciences-focused venture capital adviser and manager. SVLS advises or manages funds that invest in companies requiring funding within the human life sciences sector including biotechnology and pharmaceuticals, medical devices and instruments, healthcare IT and services. SVLS advises or manages four venture capital funds and a publicly traded investment trust with total capital of approximately $1.6 billion that invest in life sciences companies at all stages of development. SVLS has 28 professionals and has invested in over 175 companies over the course of the last decade making SVLS one of the largest and most active healthcare investors in the world. SVLS was established in 1993 and currently has offices in Boston, San Francisco and London.

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