Mitsui & Co. Global Investment (MGI) - Venture Capital, Start-Up

NEWS 2007

[10/17/2007]

NovoStent Names G. Ray Martin, PhD, President & CEO

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE) -October 17, 2005--NovoStent Corporation, a medical device company that has developed a novel "anchored" helical stent technology to provide a wide range of vascular therapies, announced today that G. Ray Martin, PhD, has been appointed its President & Chief Executive Officer and a member of its Board of Directors. He will replace Michael Hogendijk, the Company's founder and primary inventor, who will continue as Chief Technical Officer and a member of the Board of Directors.

"Dr. Martin brings a broad set of technical, management and strategic skills to NovoStent and we are very pleased that he will lead us into our clinical phase of development"said Paul Quadros, NovoStent's Chairman of the Board.

Dr. Martin was most recently Vice President, Business Development of TriVascular, Inc. which was acquired by Boston Scientific (NYSE: BSX) in April 2005. Prior to joining TriVascular, Dr. Martin held executive positions at C.R. Bard, Inc. (NYSE: BCR) and W. L. Gore and Associates, Inc. His leadership has resulted in the development of several businesses and products dedicated to minimally invasive treatment of vascular disease. Dr. Martin was an inventor of the stent graft recently implanted in Vice President Cheney. He is a Summa Cum Laude graduate of West Virginia University where he received a BS in Chemical Engineering and holds a PhD in Chemical Engineering and Bioengineering from Carnegie Mellon University.

NovoStent's unique stent and integrated delivery system is designed to provide easy deployment and accurate, zero-foreshortening delivery. The Company's proprietary "anchor" and helical stent platform offers superior durability, flexibility and compression resistance. These features will be initially demonstrated in the superficial femoral artery (SFA) during the Company's first human trial scheduled to start in 2006.

Contacts:

NovoStent Corporation
Nathan Weems, 650-404-0307
NWeems@NovoStent.com