Exogen Inc. files initial public offering of 2.5 million shares of common stock

Business Wire, May 30, 1995

PISCATAWAY, N.J.--(BUSINESS WIRE)--May 30, 1995--Exogen Inc. announced Tuesday that on May 26, 1995, it filed a registration statement with the Securities and Exchange Commission for an initial public offering of 2.5 million shares of its common stock with an estimated price range of $11 to $13 per share.

The offering is being made through an underwriting group managed by Robertson Stephens & Co., L.P., Cowen & Co. and Piper Jaffray Inc.

Net proceeds to the company from this offering will be used for research and development and clinical trials, commercial introduction of expanded applications of existing and future products, product engineering, expansion of sales and marketing efforts, reimbursement activities, establishing manufacturing facilities, working capital and general corporate purposes.

Exogen designs, develops, manufactures and markets medical devices for the non-invasive treatment of musculoskeletal injury and disease. The company's proprietary ultrasound and mechanical stress technologies are based on the principle that bone growth is stimulated by mechanical force. The company's Sonic Accelerated Fracture Healing System (SAFHS) device utilizes its proprietary ultrasound technology to accelerate fracture healing for certain closed, cast-immobilized, fresh (new) fractures of the lower leg and the lower forearms. The company's pre-market approval application for the SAFHS 2A device was approved by the U.S. Food and Drug Administration in October 1994. The company's SAFHS devices is the only medical device approved by the FDA for the acceleration of new fracture healing.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. The securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws on any such state or jurisdiction.

Copies of the preliminary prospectus relating to the offering may be obtained from Robertson, Stephens & Co., L.P., 555 California St., Suite 2600, San Francisco, CA 94104, 415/781-9700; Cowen & Co., Financial Square, 30th Floor, New York, NY 10005-3597, 212/495-6000; or Piper Jaffray Inc., Piper Jaffray Tower, 222 S. Ninth St., Minneapolis, MN 55402, 612/342-6000.

CONTACT: Exogen Inc., Piscataway

Patrick A. McBrayer or Richard Reisner, 908/981-0990