IntraOp Medical Corporation (“IntraOp”) (OTC: IOPD) Hires Financial Advisor To Advance Strategic Alternatives
By Business Wire   03/12/10 - 11:40 AM EST 

IntraOp Corporation (“IntraOp”) (OTC: IOPD) announced today that it has retained NewCap Partners to act as financial and strategic advisor to assist the Board of Directors and management in evaluating strategic alternatives for the Company that may enhance shareholder value. The company has identified and developed several large markets for Interoperative Electron beam Radiation Therapy (”IOERT”) for the treatment of breast cancer and advanced tumors as well as External-beam Radiation Therapy (“EBRT”) for the treatment of skin cancer and believes that in order to maximize these markets, additional financial resources and infrastructure will be needed in the next year to meet these market opportunities in China, Europe and North America. John Powers, President and CEO of IntraOp, stated, "Interest by prospective customers and users continues to increase in the Mobetron, our mobile electron-beam radiation therapy system, from both the IOERT and EBRT markets. In addition, we have received expressions of strategic interest in IntraOp from other healthcare companies. Accordingly, we have decided to engage a financial advisor experienced in the healthcare sector to help us evaluate our financing and strategic alternatives, which could include an investment, a manufacturing or distribution alliance, a change of control transaction or other type of transaction.” 

No definitive timetable for completing this process and evaluating possible options has been set. Furthermore, there can be no assurances that this evaluation process will result in any transaction that is acceptable to the Company. IntraOp does not intend to disclose developments regarding its evaluation of strategic alternatives unless and until the Board of Directors approves a transaction.

About IntraOp Medical Corporation.
IntraOp Medical Corporation provides innovative technology solutions for the treatment and eradication of cancer. Founded in 1993, IntraOp is committed to providing the tools doctors need to administer intra-operative radiation therapy for breast cancer and other cancers and external beam radiation therapy for skin cancers, safely and effectively – for all cancer patients. The company’s flagship product, Mobetron, is the first fully portable, self-shielding intra-operative electron radiation therapy device designed for use in any operating room. Key Mobetron benefits include: increased survival rates, better local tumor control, shorter treatment cycles and fewer side effects compared to conventional radiation therapy. Leading hospitals, from university research centers to specialized cancer clinics in North America, Europe and Asia, use Mobetron as a vital part of their comprehensive cancer program. For more information on IntraOp Medical Corporation, please visit www.intraopmedical.com

About NewCap Partners.
NewCap Partners is a private investment banking firm with offices in Los Angeles, Orange County, San Francisco, Silicon Valley and Bejing. NewCap focuses on the corporate finance needs of middle-market public and private companies, specializing in: mergers and acquisitions, strategic alliances such as technology licensing and joint ventures, late-stage private equity financing, private placements in public companies (“PIPE”) and corporate finance transactions in the Greater China region. Through direct relationships and affiliates in Asia and Europe, with particular emphasis and expertise in the Greater China Region, NewCap Partners has strong international capabilities. NewCap Partners is a broker-dealer licensed by the Financial Industry Regulatory Authority (FINRA) and a member of the Securities Investor Protection Corporation (SIPC).