CAMBRIDGE, England, February 18 /PRNewswire/ -- Ranier Technology, a
Cambridge UK based spinal implant development company, has secured an GBP8
million ($16 million) investment from new and existing investors to further
develop and commercialise its motion preserving spinal implant products.
The investment was made by Alliance Trust Equity Partners (ATEP) and First
Ventures to fund the clinical testing and European launch of CAdisc L, the
lumbar version of Ranier's compliant replacement spinal disc. In addition,
the funding will enable the company to further develop and test CAdisc C -
Ranier's total disc replacement for the cervical spine.

    Commenting, Dr Geoffrey Andrews CEO and Founder of Ranier said, "We are
delighted to have secured this funding from both new and existing high
quality investors, and we warmly welcome ATEP as a new investor. This
investment is strong validation of our CAdisc product technology and the
exciting role our products will play in the burgeoning global spinal disc
markets".

    Ranier's CAdisc total disc replacement devices are designed to replace
diseased spinal discs in both the lumbar (lower back) and cervical (neck)
regions of the spine and to bring relief and a normal quality of life for
younger patients (20 - 60 years old) who suffer debilitating pain from
degenerative disc disease, and who do not wish to tolerate a major
degradation to their life style.

    The replacement spinal disc market is set to grow to over $2 billion
per annum by 2015 and Ranier anticipates that its CAdisc products are well
placed to take a significant proportion of that market. The CAdisc is a
unique, entirely polymeric, shock absorbing design which allows the natural
bio-mechanics of the spinal disc to be restored without the use of metal or
sliding surfaces. CAdisc has been designed to be a highly durable, entirely
MRI compatible implant, capable of protecting adjacent discs from
accelerated degeneration observed with non-compliant spinal implants.

    Richard Hope, Investor Director, ATEP commented, "We have been
impressed by the company's focus in producing high quality spinal implant
products and look forward to working with Ranier at this exciting time in
its development".

    Peter Wolfers of First Ventures commented, "We are pleased to continue
our involvement with Ranier and to help the company take its family of
total disc replacement products from the laboratory, through clinical
study, and on into commercial markets. We look forward to seeing CAdisc's
clinical benefits underpinning Ranier's commercial success."

    In this investment round, Ranier were advised by specialist high
technology fund raising and corporate finance advisors First Capital
(London UK).

    Notes to Editors

    About Ranier Technology Limited

    Ranier Technology, located in Cambridge, England, is a medical device
developer utilising its proprietary Precision Polyurethane Manufacturing
(PPM) technology to bring next generation, motion preservation spinal
implants to clinical use.

    http://www.ranier.co.uk

    About Alliance Trust Equity Partners

    ATEP is a wholly owned subsidiary of Alliance Trust PLC and is focussed
on the provision of private equity finance. Alliance Trust PLC, a FTSE 100
company, is an international investment and financial services group,
specialising in fund management, pensions and investment services. Alliance
Trust PLC is currently the UK's largest generalist investment trust company
investing on a global basis across all major markets and sectors.

    Richard Hope led the transaction for ATEP and joined the board of
Ranier on completion of the investment.

    About First Ventures

    FirstVentures advises FNI Venture Capital, the venture capital fund of
the Nixdorf family, which invests in UK technology companies. FirstVentures
has a particular specialisation and interest in companies which are
exploiting opportunities based on advanced materials.

    http://www.firstventures.co.uk

    About First

    FirstCapital is an investment bank specialising in fund raising and
acquisitions advice for high growth technology companies. Established in
1999, it has offices in London and Cambridge. Clients include
entrepreneurs, technology companies and investors in private companies.
Services range from first round venture capital funding for technology
companies to private equity exits for shareholders. Authorised and
regulated by the Financial Services Authority, First Capital is a member of
the British Venture Capital Association.


    Capital http://www.firstcapital.co.uk

    For further information please contact:
    Dr Geoffrey Andrews
    CEO Ranier Technology Limited
    +44(0)1223-505045
    geoffrey.andrews@ranier.co.uk

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