Cytyc Invests in Series A Round of Combinent BioMedical Systems, Inc.

MARLBOROUGH, Mass.--(BUSINESS WIRE)--Cytyc Corporation (Nasdaq: CYTC) through its Cytyc Development Company, LLC subsidiary, has made a venture investment in Combinent BioMedical Systems, an early stage company developing a vaginal drug delivery platform for delivering a combination of drugs, currently given orally and intravenously, in a single device. Optimized delivery of several drug combinations is expected to greatly improve treatment of a number of women’s health diseases with large markets and high unmet needs.

“We are excited to be backing Dr. Langer and Dr. Crowley, world experts in drug delivery and hormonal disorders”

Robert Langer, Ph.D., Professor of Chemical Engineering at Massachusetts Institute of Technology (MIT), and William Crowley, Jr., M.D., Chief of the Reproductive Endocrine Unit of the Department of Medicine at Massachusetts General Hospital, are the founders of Combinent, which will be based in Boston, Massachusetts. Dr. Langer is one of the pre-eminent scientists in the Boston area focused on drug delivery. Dr. Langer has more than 550 issued or pending patents worldwide, and many patents have been licensed or sublicensed to over 180 pharmaceutical, chemical, biotechnology, and medical device companies. Dr. Crowley is one of the leading clinicians in reproductive endocrinology, focusing his clinical research on gonadotropin releasing hormone agonist (GNRHa) for the treatment of precocious puberty in children and endocrine disorders in women.

Cytyc joins VIMAC Ventures and Commons Capital in this financing. This financing will be used primarily to fund clinical trials.

John McDonough, president of Cytyc Development Company, LLC, will join the Combinent Board of Directors, which will also include Dr. Langer and Sena Biswas from VIMAC Ventures. Cytyc Development Company, LLC is the division of Cytyc responsible for all business development activities, including acquisitions, licensing, and venture capital investing.

“We are excited to be backing Dr. Langer and Dr. Crowley, world experts in drug delivery and hormonal disorders,” said Mr. McDonough. “We believe we are financing a unique delivery platform that will yield multiple products for the treatment of serious reproductive, endocrine, and metabolic diseases affecting women. We look forward to working with VIMAC Ventures and Commons Capital to build a company that we believe will have a significant impact on women’s health.”

About Cytyc

Cytyc Corporation is a diversified diagnostic and medical device company that designs, develops, manufactures, and markets innovative and clinically effective diagnostic and surgical products. Cytyc’s products cover a range of cancer and women’s health applications, including cervical cancer screening, preterm birth screening, treatment of excessive menstrual bleeding, radiation treatment of early-stage breast cancer, and radiation treatment of patients with malignant brain tumors.

Cytyc is traded on The NASDAQ Global Select Market under the symbol CYTC. Cytyc is a registered trademark of Cytyc Corporation.

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