***For Immediate Release***

ONSET Ventures Adds John Ryan to Expand Medical Technology Investing Team

Significant Unmet Medical Needs, Maturing Baby Boom Generation, and Technological Advances Continue to Produce Attractive Opportunities for Medical Device Start-ups

MENLO PARK, CA – January 7, 2008 ONSET Ventures today announced that John Ryan has joined the firm as a partner. Ryan will work with the medical technology investing team.

"There continue to be substantial unmet basic medical needs globally and in the U.S.," said Leslie Bottorff, ONSET managing director. "Moreover, the aging of the baby boomer population is providing additional high-growth opportunities for early stage medical device companies that bring unique solutions to their healthcare problems. John brings considerable experience in the sector, and we are pleased to add him to our investment team at such an opportune time."

Ryan joins ONSET from Panorama Capital, a venture capital firm created by the venture capital team from JPMorgan Partners. At Panorama and JPMorgan Partners, Ryan led the firm's venture investing efforts in the medical device sector and was one of the founders of the firm's west coast life sciences practice. During that time, Ryan served on the boards of directors of CardioKinetix, FlowCardia, Innovative Spinal Technologies, Novasys Medical, and Powervision, among other companies. Before that, he was with Morgan Stanley Venture Partners where he also focused on medical technology investments and participated in investments in companies such as Intuitive Surgical (NASDAQ: ISRG), R2 Technologies (acquired by Hologic), and Rita Medical Systems (acquired by AngioDynamics). Earlier, Ryan worked with Morgan Stanley's Health Care Investment Banking Group where he focused on financing and M&A business for health-care focused clients globally. Ryan holds an M.B.A. from the Harvard Business School and a Bachelor of Science degree with high honors from the University of Colorado.

"Technological innovation and very creative entrepreneurs are enabling new medical technologies to fulfill previously unmet needs and, in many cases, provide more cost-effective therapeutic options," said ONSET Managing Director Rob Kuhling. "With all this emerging opportunity, we are actively increasing our bandwidth to uncover and invest in the best of these ideas."

ONSET sees particularly interesting opportunities are in neurostimulation, cardiac care, obesity treatment, orthopedics, and other markets. The firm's investments in the sector have included such key companies as Conceptus, Spinal Concepts, Enteromedics, Access Closure, Neuronetics, Embolic Protection, and others.

Ryan explained his reasons for joining the firm: "ONSET is one of the few venture firms that has, for more than 20 years, had a practice with an unwavering commitment to early stage medical technology investing. This expertise in working collaboratively with developing companies, and the firm's wide network and deep industry experience make ONSET an excellent partner for its portfolio companies. This is evidenced by the array of top-quality entrepreneurs that choose to work with ONSET repeatedly."

According to Peter Edelstein, MD, President and CEO of Aragon Surgical, an ONSET portfolio company: "It's critical that venture capitalists bring more than just money at the early stage – they need to pitch in and become true business partners. Having worked with ONSET on two portfolio companies and with John Ryan on one company, I know that ONSET is a true partner, and that adding John is a great fit."

About ONSET Ventures

ONSET Ventures specializes in providing an ideal mix of start-up, follow-on, and intellectual capital to entrepreneurs and early-stage technology ventures, to help transform world-class ideas into sustainable and valuable businesses, through a process of "venture craftsmanship." The firm has backed over 100 companies since 1984 and now has more than $700 million under management.

ONSET's venture craftsmanship, refined over 23 years, includes a highly-optimized tool set for risk and capital management, and a shirt-sleeves style of active collaboration with entrepreneurs that leverages the firm's substantial operating experience. That collaboration frequently begins before the closing of any financing, and typically continues throughout the life of the venture. This approach, which has become the hallmark of the firm, has resulted in a crafting of ventures that have consistently met their operational and financing milestones. In addition, it has resulted in a franchise that not only brings successful, serial entrepreneurs back to ONSET Ventures time and again, but also attracts investors who want the increasingly rare opportunity to participate in very early stage venture investing.

ONSET Ventures focuses exclusively on information and medical technology-based start-ups, and has a long history of successful ventures in each of these sectors.

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