A Medical Device Daily

Hansen Medical (Mountain View, California) reported it has priced its public offering of 11,692,000 shares of its common stock at a price to the public of $3.25 per share. The gross proceeds to Hansen Medical, before expenses, from the sale of shares are expected to be about $38 million. The closing of the offering is expected to take place on Wednesday. Piper Jaffray & Co. (Minneapolis) will be the sole manager for the offering.

The offering is being made pursuant to a shelf registration statement filed with the Securities and Exchange Commission that became effective on March 17, 2008. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.

In other financing news:

• Novadaq Technologies (Toronto) a developer of real-time medical imaging and image guidance systems for use in the operating room, reported it has received a $1 million payment from Intuitive Surgical (Sunnyvale, California) for achieving the first pre-defined milestone outlined in the terms of their license and development agreement signed in January. Novadaq and Intuitive are working together to integrate Novadaq's proprietary SPY imaging technology into the 3-D high definition imaging capabilities of Intuitive's da Vinci Surgical Robotic System.

In late 2007, Novadaq and Intuitive began exploring the use of SPY imaging during minimally invasive surgical robotic procedures to potentially enable surgeons to visualize blood flow in vessels, tissue perfusion, tumors, tumor margins, and the lymphatic system in real-time. That collaboration resulted in the signing of two multi-year agreements between the companies in January. Novadaq has received an upfront license payment and the first of a total of three milestone payments. Following commercialization of the integrated system, Novadaq will also receive royalty payments for each da Vinci Surgical System sold with, or upgraded to include SPY imaging. The Supply Agreement names Novadaq as Intuitive's exclusive supplier of a key component of the electronic sub-system that enables the fluorescence imaging capability, and the consumable fluorescence agent used in each imaging procedure.

• Bellus Health (Laval, Quebec) reported the completion of the first tranche of its previously reported C$20.5 million financing.

Bellus received gross proceeds of C$10 million for the issuance of new convertible notes (C$5 million from Vitus Investments III Private Limited and C$5 million from Victoria Square Ventures) and a second tranche of C$10.5 (C$5 million from Vitus Investments III Private Limited (Montreal, Quebec) and C$5.5 million from Victoria Square Ventures) is expected to be funded in June.

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