Ambler, Pa 7/24/06 Bioconnect Systems Inc. a medical device start-up, recently completed a fully subscribed seed round. Robin Hood Ventures, MentorTech, and angel investors provided the financing. Adam Dakin, the company’s CEO, says the initial response from potential Series A investors has been very encouraging and anticipates a $6 million Series A financing round to close in early fall.

Bioconnect, based in Ambler, Pa,. acquired the assets of an undisclosed defunct company that had focused on a different clinical application. The company will initially use the technology to improve vascular access in dialysis patients, a large and highly underserved patient population. Dakin said that the company acquired considerable clinical experience and data for the device. "We like to think of ourselves as a Series C company raising a Series A," he said. "We are actually very far along - we have proof-of-concept in man, we have four issued patents." Bioconnect's device, The OptiflowTM, provides surgeons with a minimally invasive method for creating precise connections throughout the body without the need for suture.

About Bioconnect

Bioconnect Systems, Inc. is an early stage privately held medical device company located just outside of Philadelphia in Ambler, Pennsylvania. The company was formed in April 2006 after acquiring a prior company’s assets. Bioconnect Systems develops medical devices (connectors) used to join (anastomose) conduits within the human body during minimally invasive surgical procedures. The product platform provides the unique ability to create an optimal flow path without the use of active fixation such as sutures, clips or staples. Bioconnect's initial product, The Optiflow AV, targets the need for improving vascular access for hemodialysis performed in the world's two million end stage renal disease patients.

About Robin Hood Ventures

Robin Hood Ventures is a membership organization of experienced entrepreneurs and accredited investors interested in investing and taking an active role in early stage companies with high return on investment potential. Robin Hood Ventures, founded in 1999, takes an innovative approach to angel investing. Member-established direct investment accounts create a pool of investable funds that enable rapid decision- making. Robin Hood's consistent approach to due diligence and deal structuring streamlines the deal process. Robin Hood Ventures invests as a single entity and considers business opportunities that represent the diverse interests and experience of our members.

Robin Hood focuses on investing in early stage companies located in the Mid-Atlantic region. Portfolio companies include Intellifit, Compoze, Power Medical Interventions, Etech Solutions, Inc., myserviceforce.com, Glucolight, Baton, Synova Healthcare, Protez Pharmaceuticals, Bioconnect Systems, Baton Networks, Inc. and Paradigm Spine, LLC. As of April 2006, Robin Hood has invested approximately $10MM in 15 companies that have subsequently raised over $200 million.