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WALTHAM, Mass.–(BUSINESS WIRE)–Corindus
Vascular Robotics, Inc. (“Corindus” or the “Company”) (NYSE
American: CVRS), a leading developer of precision vascular robotics,
announced today that it filed a registration statement on behalf of
investors that participated in its recently completed private placement.
As previously disclosed, earlier this quarter, Corindus sold shares of
its common stock to a large institutional investor and certain existing
stockholders with contractual preemptive rights, including Hudson
Executive Capital (“HEC”) and BioStar Ventures, for aggregate gross
proceeds of approximately $19.8 million. HEC purchased an amount in
excess of their allotment under the preemptive rights. HEC is an
affiliate of Douglas L. Braunstein and BioStar Ventures is an affiliate
of Louis A. Cannon M.D., both of whom are directors of the Company. The
shares sold in the private placement are subject to a contractual
six-month lock-up.

In addition, Corindus has suspended the use of its at-the-market
offering program with Cowen and Company, LLC.

In connection with the private placement, Corindus entered into a
registration rights agreement with the investors requiring it to
register the resale of the shares, it being understood that the shares
could not be sold for a period of six-months from the closing pursuant
to the lock-up.

Under the registration rights agreement, the Company was required to
file the registration statement with the Securities and Exchange
Commission within 90 days of the closing and is required to use
commercially reasonable efforts to have it declared effective within 180
days of the closing.

About Corindus Vascular Robotics, Inc.

Corindus
Vascular Robotics, Inc. is a global technology leader in
robotic-assisted vascular interventions. The Company’s CorPath®
platform is the first FDA-cleared medical device to bring robotic
precision to percutaneous coronary and vascular procedures. CorPath GRX
is the second-generation robotic-assisted technology offering
enhancements to the platform by adding important key upgrades that
increase precision, improve workflow, and extend the capabilities and
range of procedures that can be performed robotically. We are focused on
developing innovative robotic solutions to revolutionize treatment of
emergent conditions by providing specialized and timely medical care to
patients around the world. For additional information, visit www.corindus.com,
and follow @CorindusInc.

Forward Looking Statements

Statements made in this release that are not statements of historical
or current facts are “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements may involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or achievements
of Corindus to be materially different from historical results or from
any future results or projections expressed or implied by such
forward-looking statements. Accordingly, readers should not place undue
reliance on any forward-looking statements. In addition to statements
that explicitly describe such risks and uncertainties, readers are urged
to consider statements in the conditional or future tenses or that
includes terms such as “believes,” “belief,” “expects,” “estimates,”
“intends,” “anticipates” or “plans” to be uncertain and forward-looking.
Forward-looking statements may include comments as to Corindus’ beliefs
and expectations as to future events and trends affecting its business
and are necessarily subject to uncertainties, many of which are outside
Corindus’ control.

Examples of such statements include statements regarding or such as:

  • Corindus’ suspension of its at-the-market offering program.

Important factors that could cause actual results to differ
materially from those indicated by such forward-looking statements are
described in the sections titled “Risk Factors” in the Company’s filings
with the Securities and Exchange Commission, including its most recent
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well
as reports on Form 8-K, including, but not limited to the following: our
ability to expand our technology platform and achieve the advances
necessary for telestenting and remote procedures, including in humans;
our ability to expand our technology platform for use in other segments
of the vascular intervention market, including neurointerventional and
other more complex cardiac interventions; obtaining necessary regulatory
approvals for the use on humans and marketing of our products in the
United States and in other countries, including for stroke and other
neurovascular interventions; the rate of adoption of our CorPath System
and the rate of use of our cassettes; risks associated with market
acceptance, including pricing and reimbursement; our ability to enforce
our intellectual property rights; our need for additional funds to
support our operations; our ability to manage expenses and cash flow;
factors relating to engineering, regulatory, manufacturing, sales and
customer service challenges; potential safety and regulatory issues that
could slow or suspend our sales; and the effect of credit, financial and
economic conditions on capital spending by our potential customers.
Forward looking statements speak only as of the date they are made.
Corindus undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise that occur after that date. More information
is available on Corindus’ website at http://www.corindus.com.

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