For more information contact:
Heidi Brown
805-214-6123
hbrown@cynvenio.com

FOR IMMEDIATE RELEASE

NATIONAL CANCER INSTITUTE AWARDS TWO LUNG CANCER CIRCULATING TUMOR CELL (CTC) DEVELOPMENT CONTRACTS TO CYNVENIO BIOSYSTEMS, INC.

Company also announces additional equity investment of $2.0 million

Westlake Village, CA —February 7, 2012—Cynvenio Biosystems, Inc., a developer of rare cell isolation systems for biomedical research, personalized medicine and the molecular diagnostics of cancer, today announced that the National Cancer Institute (NCI) awarded two Small Business Innovative Research (SBIR) contracts to develop novel lung cancer tests based on the isolation of mutation-bearing Circulating Tumor Cells (CTCs) from whole blood. The NCI awarded Phase I funding of $195,000 for each contract, and Cynvenio will be eligible to apply for Phase II funding of $1.5 million (for each contract) when the Phase I objectives are successfully achieved. Cynvenio’s core technology was independently verified against clinical patient samples in 2011. The company also announced that it has received an additional $1.2 million from existing shareholders as part of a fully committed $2.0 million financing authorized by its board of directors.

For the first contract, Cynvenio will use the funding from the SBIR and its investors to develop a Liquid Biopsy™ blood test, and a companion diagnostic device that isolates CTCs from the peripheral blood of lung cancer patients in order to identify the DNA mutations associated with each individual’s disease. Improvement of treatment outcomes for cancer patients with solid tissue tumors depends on the drugʼs ability to target the genetic mutations responsible for tumor growth. Currently, mutational analysis requires an invasive tissue biopsy, which is clinically impractical to perform repeatedly over time for longitudinal studies. As an alternative, extracting CTCs – cancer cells released into the bloodstream by the primary tumor – for molecular analysis offers an attractive strategy for genotyping patient-specific tumors and mutations.

For the second contract Cynvenio will will use the funding from the SBIR and its investors to develop a CTC-based test to measure resistance to drugs in lung cancer patients. The evolving understanding of cancer indicates that every tumor has distinct characteristics driven by the molecular pathology of the disease. Predicted by this heterogeneity, targeted therapeutic agents are much more successful than a “one size fits all” approach. Currently, there are no tools to analyze resistance in solid tissue tumor cells other than a traditional biopsy. This limitation typically precludes testing for molecular markers that emerge during treatment. Cynvenio’s goal is to develop and characterize a CTC-based molecular drug resistance test and demonstrate application in clinical samples. 15-20% of non-small cell lung cancers are driven by activating mutations in the epidermal growth factor receptor (EGFR), a mutation that can be very effectively treated with EGFR inhibitors such as gefitinib and erlotinib. Resistance to these drugs arises universally, caused half of the time by a T790M mutation. Currently, resistance is determined medically by demonstrating tumor progression. As an alternative approach, extracting the small number of CTCs released into the bloodstream for detection of the emergence of the T790M mutation offers a strategy for genotyping patient-specific tumor cells in real time. This will produce a fundamentally enabling technology for predictive cancer tests in personalized medicine.

“We are extremely pleased the NCI has awarded this funding which will allow Cynvenio and our clinical collaborators to accelerate our validation programs aimed at harnessing the DNA of mutation-bearing Circulating Tumor Cells in lung cancer patients,” said André de Fusco, Cynvenio’s CEO. “The NCI awards reflect a growing recognition that CTCs are central to the longitudinal testing of cancer patients and the implementation of personalized medicine models. We look forward to addressing all solid tissue tumor disease models in the future as we secure incremental funding for the LiquidBiopsy™ program.”

About Cynvenio Biosystems, Inc.

Cynvenio Biosystems, Inc. is a privately held company focused on the development of the LiquidBiopsy™ platform, a high performance rare cell isolation technology for biomedical research and novel cancer diagnostics. As a precursor to next generation sequencing and the mutational profiling of cancer cells retrieved from whole blood, LiquidBiopsy™ is a key enabling technology to realize the promise of personalized medicine – including the early detection of disease, real time monitoring of patients, and the selection of individual therapeutic solutions. Cynvenio is based in Westlake Village, California. Find more information at www.cynvenio.com

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For more information contact:
Heidi Brown
805-214-6123
hbrown@cynvenio.com

FOR IMMEDIATE RELEASE

CYNVENIO BIOSYSTEMS, INC. ADDS AMIT MUNSHI AND SIMON RAAB, Ph.D. TO ITS BOARD OF DIRECTORS

Two Seasoned Medical Technology Executives Join Cynvenio’s Board as Independent Directors

Westlake Village, CA —August 3, 2011—Cynvenio Biosystems, Inc., a developer of high performance cell isolation technology for biomedical research and novel cancer diagnostics, today announced that Amit Munshi and Simon Raab, Ph.D. have joined its board of directors.

Mr. Munshi, a leading Southern California biopharma executive, is president and CEO of Percivia, LLC (www.percivia.com), a venture formed to develop therapeutics using the PER.C6® human cell line.  He is also the co-founder and former Chief Business Officer of Kythera Biopharmaceuticals Inc. (www.kytherabiopharma.com), a venture-backed company focused on novel prescription products in the field of aesthetic medicine.  Under Mr. Munshi’s leadership, Kythera successfully commercialized technology licensed from academia and large bio-pharmaceutical companies, and recently completed a $373 million licensing transaction with a division of Bayer Healthcare AG. Prior to co-founding Kythera, Mr. Munshi served as the General Manager of Amgen’s [NASDAQ:AMGN] $700 million European Nephrology Business based in Switzerland.  He has also held positions in sales, marketing, managed care, and product licensing during tenures at Astra Merck and IOLAB Corporation, a Johnson & Johnson Company.

Dr. Simon Raab, a pioneer in computer-aided coordinate measurement systems, co-founded FARO Technologies, Inc. [NASDAQ:FARO] in 1981, and served as its president and CEO until 2005, and continues to serve as the company’s chairman. During his tenure, FARO grew from a technology start-up into a publicly traded company with over $200 million in revenue and tens of thousands of customers globally including Boeing, DaimlerChrysler, Airbus, General Motors, Johnson Controls, Lockheed Martin, Siemens, Caterpillar and Honda.

Dr. Raab is the chairman of Novim (www.novim.org), a think tank formed to apply the techniques and methodologies developed at the Kavli Institute for Theoretical Physics at UC Santa Barbara to address address major interrelated issues such as climate change, renewable energy, and fresh water. Dr. Raab also serves as Director of TrueVision Systems, Inc., (www.truevisionsys.com), of Santa Barbara, California, a leader in digital 3D visualization and guidance systems for ophthalmic microsurgery.

Dr. Raab holds more than 80 US and foreign patents in the fields of 3D coordinate measuring systems, biomaterials, and medical diagnostics. He holds a Ph.D. in Mechanical Engineering from McGill University, Montreal, Canada, a Masters of Engineering Physics from Cornell University and a Bachelor of Science in Physics with a minor in Biophysics from the University of Waterloo, Canada.

“We are very pleased to welcome Mr. Munshi and Dr. Raab to the Board of Directors,” said André de Fusco, Cynvenio’s chief executive officer.  “These are exceptional individuals with proven track records of success. Their experience will be invaluable as Cynvenio enters its commercial growth stage.“

“Both gentlemen bring extensive contacts in the biotech and medical device industries and their deep expertise in strategic transactions and technology licensing will be a valuable asset and complement to our current board.” said Fred Gluck, Cynvenio’s co-founder and chairman of the board.

About Cynvenio Biosystems, Inc.

Cynvenio Biosystems, Inc. is a privately held company focused on the development of high performance cell isolation technology for biomedical research and novel cancer diagnostics. The company’s rare cell detection and mutational profiling methodology for personalized medicine applications includes newly-developed blood-based tests for the early detection of disease and the selection of individual therapeutic solutions. Cynvenio is based in Westlake Village, California. Find more information at www.cynvenio.com.

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Link:  Cynvenio Biosystems Selected as a 2011 FiReStarter Company

James S. Swensen, Yi Xiao, Brian S. Ferguson, Arica A. Lubin, Rebecca Y. Lai, Alan J. Heeger, Kevin W. Plaxco, and H. Tom. Soh

Link: SFVBJ Article from July 5, 2010

Link:  GEN Article from July 1, 2010

Mr. Gluck is a former managing partner (CEO) of McKinsey & Company, Inc., the international management consulting firm (1967-1995; Managing Director: 1988-1994). Fred retired from McKinsey in 1995 and joined the Bechtel Group where he served as Vice-Chairman and Director. Fred retired from Bechtel in July 1998 and rejoined McKinsey and Company as a consultant until retiring again in July 2003. Mr. Gluck’s business board memberships include AMGEN (Thousand Oaks, CA) [NASDAQ], and HCA (Nashville, TN) [NYSE] where he is Presiding Director. Mr. Gluck also serves as Director of a number of eleemosynary organizations, including the Cottage Health System (Santa Barbara, CA), the Foundation Board of the University of California, Santa Barbara, the Kavli Institute of theoretical Physics and The New York Presbyterian Hospital (Emeritus).