News | August 28, 2007

IntraOp Medical Raises Equity, Names New President

August 29, 2007 – IntraOp Medical Corp. announced it has received $5.4 million of new equity and arranged for the extinguishment of over $8.7 million of notes and payables. In addition to the capital restructuring, a new President and CEO has been named, and a new Board of Directors has been appointed.

John Powers, the new CEO and President of IntraOp, comes from a strong business operations background with over 20 years of experience in the fast-paced wireless industry, including executive posts at metroPCS, VelociTel, Inc., Crown Castle International and Motorola, Inc.

IntraOp's flagship product Mobetron is reportedly the first OR-ready, fully portable, self-shielding electron-beam linear accelerator designed for use in any operating room. With Mobetron, radiation and surgical oncologists can pinpoint the exact area that requires radiation and immediately deliver high doses directly to the affected tissue during cancer surgery.

IntraOp's new Board of Directors consists of IntraOp President and CEO John Powers; Chairman Oliver Janssen, Hultquist Capital LLC; Rawleigh Ralls, Lacuna Gap Capital; Greg Koosman, VMG Health; and former Board Members Keith Jacobsen, Steven Kessler, and Michael Friebe, Ph.D.

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