Applied Physiology Raises $5 Million for Navigator™ Market Launch

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Medical device company Applied Physiology this week closed a $5 million Series B round of investment with GBS Venture Partners as AP prepares for market launch of its Navigator™ circulation guidance system.

AP's Navigator system provides circulation guidance to rationalize and standardize the treatment of critically-ill patients.

We see great potential to improve patient outcomes while reducing the cost and complexity of acute care. We continue to back Applied Physiology both for its breakthrough technology and the strong management team.

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Medical device company Applied Physiology Pty Ltd (AP), a developer of circulation guidance systems for critically-ill patients, announced today a Series B $5 million investment from Series A lead investor GBS Venture Partners, Australia.

Managing critically-ill patients is complex and costly. Today, most patient monitoring and clinical information systems offer clinicians little guidance to rationalize and standardize treatment. Consequently, hospitals are increasingly seeking clinical decision support tools in an effort to address these problems and reduce cost.

"AP's Navigator takes data from standard cardiovascular monitors and assembles it into graphical treatment guidance for clinicians, making continuous goal directed therapy a reality" says Dr. Steve Gourlay, general partner of GBS. "We see great potential to improve patient outcomes while reducing the cost and complexity of acute care. We continue to back Applied Physiology both for its breakthrough technology and the strong management team."

The novel Navigator technology determines the volume, resistance and heart components of standard cardiovascular signals, such as blood pressure, and then arranges them in a form that guides medical staff towards therapeutic options to achieve circulatory goals. Clinical evidence shows that consistent achievement of circulatory goals reduces hospital stays and complications after, for example, major surgery.

In 2008 the company completed a multicentre randomized clinical trial of Navigator in patients recovering from open heart surgery. The study demonstrated effectiveness and safety, and provided clinical data for regulatory submissions. The results indicate that it is possible to provide useful therapeutic guidance to simplify the care of critically-ill patients.

From a clinician's perspective, the task of continually reviewing and adjusting circulatory therapy in patients in a busy unit may be considerably lightened with the Navigator system. The system's ability to graphically summarize the patient's status relative to goals may also enhance teamwork and autonomy of the bedside carer.

The new funding will assist in finalization of regulatory approvals and preparations for Navigator's 2010 European market launch.

Disclaimer: The Navigator medical device is not approved for use, is not available for commercial distribution and may only be used for clinical investigations provided relevant clinical investigational requirements are fulfilled.

About Applied Physiology
Founded in 2004, Applied Physiology develops and commercializes treatment guidance systems intended to transform the care of critically-ill patients. The company's main focus is on real-time circulation management with its Navigator™ product. Applied Physiology has offices in Australia and the United Kingdom. Applied Physiology

About GBS Venture Partners
GBS is Australasia's largest specialist life science venture capital investment group. GBS manages specialist funds from seed through to expansion stage in the life sciences sector, and has more than AU$400m funds under management. The GBS team has been investing in Australasia since 1996 and played founding roles in over 30 portfolio companies. GBS Venture Partners

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