Asteres Inc. Completes Series B Financing

DEL MAR, Calif.--()--Nov. 12, 2004--Asteres Inc., the industry's first provider of automated prescription pick-up machines, announced today the completion of its Series B financing led by Pacific Venture Group. Sanderling Ventures also participated. Managing Director, Eve Kurtin joined the board of directors that also includes Ron Taylor, Asteres Chairman and former Pyxis CEO, Tim Wollaeger, Managing Director at Sanderling Ventures, Al Waterhouse, Asteres President & CEO and Linda Pinney, Asteres Founder & Chief Business Officer. Asteres has raised over $10 million to date.

The number of prescriptions dispensed continues to increase as does the time waiting in line to pick them up. "Asteres has developed a revolutionary technology solution in ScriptCenter that will forever change the way we will pick-up our prescriptions," said Eve Kurtin, Managing Director at Pacific Venture Group. "We are seeing rapid growth in the self-service technology market. From boarding passes to groceries, consumers are demanding the option to do it themselves."

Asteres is making significant progress in the retail marketplace. "Retail pharmacies are seeking solutions, like the Asteres ScriptCenter(TM), to improve customer service and increase quality patient care," said Sanderling's Tim Wollaeger, who was also an initial investor and board member at Pyxis. "Asteres has assembled a proven and successful group of people whose careers have centered on the business of getting the right medication to the right patient at the right time." Mr. Wollaeger and Mr. Taylor, founders of Pyxis, took Pyxis public in 1992 and sold it to Cardinal Health in 1996 for almost $1 billion.

Asteres ScriptCenter is currently intended for prescription refills. Prescriptions are ordered and filled by the retail pharmacy as usual. However, instead of placing the finished prescription in a holding area awaiting consumer pick-up, the finished prescription is placed into the Asteres ScriptCenter. By using a secure access method and entering a form of payment, the consumer can pick-up and pay for their refill prescriptions at the ScriptCenter. The proceeds raised will enable Asteres to continue to develop, sell and build ScriptCenter units for installation into retail pharmacies late this year and early next year.

Asteres Inc. develops and manufactures automated machines for the controlled storage, management, purchasing and dispensing of consumer products, healthcare medications & supplies and finished prescriptions.

Asteres(TM) and ScriptCenter(TM) are trademarks of Asteres Inc.

This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those set forth in the forward-looking statements.

Contacts

Asteres Inc.
Lawrence Griffith, 858-523-9402

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Contacts

Asteres Inc.
Lawrence Griffith, 858-523-9402