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Fremont, California – November 7, 2007 – Applied Harmonics Corporation (AHC),
a pioneer in developing diode-pumped laser systems for treating enlarged prostate,
today announced the closing of its first institutional venture capital financing
led by CSV Capital Partners (www.csvcp.com), based in Shanghai, China. The financing
will be used primarily to complete AHC’s regulatory approvals and to establish
its marketing and distribution networks, initially in Asia.
Surgery for enlarged prostate, also known as benign prostatic hyperplasia (BPH),
is the second most common operation for men over 60 years old worldwide. AHC’s
laser system is a promising alternative to traditional TURP surgery, delivering
comparable results with shorter hospital stays, reduced bleeding, and a reduced
risk of a second surgery.
AHC’s Photoselective Vaporization of the Prostate (PVP) treatment utilizes
a 100-watt second generation green light laser, one of the world’s most powerful,
allowing procedures to be performed on larger prostates and providing physicians
with more freedom in clinical decision making. Lower upfront costs and lower
operating and maintenance costs allow AHC’s systems to be installed into smaller
venues, such as private ASC’s and urologist offices.
“We are pleased to be an investor in Applied Harmonics,” said Earl Yen, managing
director of CSV Capital Partners. “The company has developed a world-class technology
and a cost-efficient system to help treat one of the world’s most common medical
conditions. We look forward to supporting Applied Harmonics in its next phase
of development.”
Liyue Mu, CEO of AHC said, “We are excited to have CSV Capital Partners on board
with us, and we look forward to benefiting from CSV’s expertise and track
record in helping emerging, technology-based companies to achieve large-scale
commercial success.”
“PVP
is a minimally invasive procedure
that can be preformed on an outpatient
basis, usually taking between 20
to 60 minutes, with the patient
discharged within a few hours,”
said Dr. Lucene Tong, venture partner
at CSV Capital Partners. “It provides
immediate and long-lasting results.
Applied Harmonics’ extensive
clinical trials in China have proven
its effectiveness and safety.”
In
connection with CSV Capital Partners’
investment, Dr. Tong will join AHC’s
board of directors.
AHC is headquartered in Fremont, California and has R&D and manufacturing
operations in Beijing, China
About Applied Harmonics Corporation
Applied
Harmonics is the developer of powerful
and cost effective laser systems
for use in the treatment of benign
prostatic hyperplasia (BPH), a condition
commonly known as enlarged prostates.
Applied Harmonics’ system allows
faster out patient treatment in
the physician’s office at a lower
cost. Headquartered in Fremont,
CA, Applied Harmonics has completed
clinical trials in Beijing, China.
For more information:
www.realtonlaser.com
About CSV Capital Partners
CSV Capital Partners (CSV) is a private
equity firm targeting early-stage growth capital investments
in emerging companies with significant
operations in Greater China.CSV's
partners combine extensive private
equity, operating and China market
experiences to assist entrepreneurs
in creating industry-leading companies.Headquartered
in Shanghai, CSV offers access to
high quality partners in Asia and
the United States and an extensive
network of resources to support
its portfolio companies.
For more information:
www.csvcp.com |
