UROGENESYS COMPLETES $11.3 MILLION FINANCING Santa Monica, Calif., October 11, 1999 - UroGenesys, Inc. announced today the closing of $11.3 million of Series B Preferred Stock in its second round private financing. Investors included most of the company's Series A stockholders, together with a number of new investors, including Lombard Odier & Cie. The company's Series A round raised $8 million in early 1997. "We are most gratified to have exceeded our initial target of $10 million in this financing, and especially to have such a well known international venture investor as Lombard Odier make a significant investment in the company at this stage of our development" said Donald B. Rice, UroGenesys' president and chief executive officer. The company plans to use the funds to broaden and accelerate its gene discovery and target validation programs, aimed primarily at developing new products to treat or diagnose prostate and other cancers. UroGenesys expects to become a leading supplier of validated targets for cancer therapeutics. UroGenesys, Inc. is a privately held, early stage biotechnology company whose purpose is development of improved therapeutic and diagnostic products for urological cancers, with an initial emphasis on prostate cancer. The Company is focused on validating its novel clinically relevant targets and seeking corporate collaborations for their product development. For more information about UroGenesys, see http://www.urogenesys.com/. Contacts Donald Rice, Ph.D. President and CEO drice@urogenesys.com Aya Jakobovits, Ph.D. Vice President of Research; Chief Scientific Officer ajakobovits@urogenesys.com << Back to Press Releases