UROGENESYS RAISES $8 MILLION FINANCING Santa Monica, CA, November 10, 1997 - UroGenesys, Inc., a start-up biopharmaceutical company focusing on treatment for prostate cancer, announced today that it raised $8 million in an initial round of financing completed earlier this year. The funding was managed by the company and involved private placements with individual investors. Dr. Donald B. Rice serves as President and Chief Executive Officer of UroGenesys. He has previously served as President and Chief Operating Officer of Teledyne, Inc. from 1993 to 1996; Secretary of the Air Force, U.S. Department of Defense from 1989-93, and President and Chief Executive Officer of the RAND Corporation from 1972-89. UroGenesys was conceived in 1996 by a group of leading cancer researchers from the UCLA School of Medicine, which included Arie Belldegrun, M.D., Owen Witte, M.D., Robert Figlin, M.D. and Jean deKernion, M.D., to develop novel and innovative diagnostic and therapeutic products for prostate cancer and other urological disorders. Dr. Rice joined this group in founding the company in late 1996. The company has licensed its initial biological technology from UCLA, covering models of human prostate cancer in immune-deficient mice, a prostate specific promoter and enhancer, and two novel genes implicated in the development of prostate cancers. The license provides UCLA with stock in the company, some cash consideration, and rights to milestone and sales royalties. UroGenesys has established its research and development laboratory and office facilities in Santa Monica. The attached profile describes the company's programs, senior management, board of directors, scientific advisory board, and other key advisors. Contacts Donald Rice, Ph.D. President and CEO drice@urogenesys.com Aya Jakobovits, Ph.D. Vice President of Research; Chief Scientific Officer ajakobovits@urogenesys.com << Back to Press Releases