Announcement

Periculum Capital Company, LLC has successfully led an Intellectual Property Spin-Out.

Suros Surgical Systems, Inc. (“Suros”) closed a merger transaction with Hologic, Inc. in the second quarter of 2006. The value of the transaction was $240,000,000 plus additional consideration subject to performance incentives. This event represented a significant return on investment for Suros shareholders and was made possible by a successful spin-out of intellectual property. Suros was founded in June 2000 as a spin-out of certain technology from Promex, Inc. (“Promex”), a medical device manufacturer of biopsy devices for use in the broad spectrum of clinical medical applications. Since the mid-1990s, Promex had also developed a broad portfolio of intellectual property focused on biopsy and tissue collection technologies. Periculum Capital Company, LLP (“Periculum”), working directly with Promex, reviewed the potential of the intellectual property, as well as the potential market applications of the technology, and concluded that a significant business opportunity existed if a new business model could be developed, and the financial resources raised, to capitalize on this technology.

The formation of Suros captured certain intellectual property, in the form of patents, trade secrets, regulatory approvals, etc., related to certain biopsy and tissue collection technology developed by Promex. This vehicle provided a platform for the financing and commercialization of significant new product applications unrelated to Promex.

Periculum helped create the business and financing strategy for the successful development of Suros. The founders believed a properly capitalized independent company such as Suros could more aggressively develop and commercialize product opportunities based on intellectual property transferred to Suros. Subsequent to its formation, Periculum privately placed investments in Suros from start-up through expansion, totaling over $18 million, which provided the necessary capital for significant growth.

The technology spin-out and the creation of an independent entity, was the key to unlocking the significant value of certain intellectual property that could not be pursued by Promex due to corporate focus and capital restraints.