CORPORATE HISTORY AND MILESTONES

Sept 1994 Company founded in Des Moines, IA by Dr. Fouad Salama and private investors

1994-2000 Company is privately funded by primarily individual investors

1996-1997 Opticon receives FDA approval for male and female version of Opticon DIRECT™ catheters that are essentially improved versions of the basic Foley catheter utilizing silicone and improved balloon shape (teardrop)

1997-1999 Proof of concept for valved catheter demonstrated in pilot clinical trial - 30 patients at Cleveland Clinic

Feb 2000 Opticon goes public via reverse merger into a shell company and simultaneously receives $3 million in funding primarily from institutional investors

2000-2001 Manufacturing methods and production processes developed through clinical prototype stage for OPTION-vf® catheter

1990-present strong IP issued and pending - 6 U.S. patents issued, 2 U.S. patent pending for improved valve design and CDA; over 20 patents with global coverage issued and pending

Feb 2001 OPTION-vf® Clinical study construct pre-approved through FDA collaboration

July 2001 Pivotal 510(k) clinical study begins at six leading sites

Apr 2002 Current investor group (OPMI Funding, Inc., a combination of prior and new investors in the Company) agrees to fund remainder of clinical study and purchase the on-going business

Apr 2002 Company seeks reorganization under Chapter 11 with debtor-in-possession financing provided by OPMI Funding

July 2002 OPMI Funding purchases substantially all Opticon Medical, Inc. assets in court approved reorganization

Aug 2002 Pivotal clinical trial is concluded

Sept 2002 510(k) application for OPTION-vf® submitted to FDA

Mar 2003 FDA issues 510(k) clearance for OPTION-vf® catheter

July 2003 Company completes $1 million financing round with private investors

Jan 2004 Company receives 510(k) clearance for Continuous Drainage Adaptor

July 2004 Dan Petrarca formally joins Opticon as its new CEO

July 2004 510(k) Application for OPTION-vm™ catheter submitted to FDA

Nov 2004 FDA issues 510(k) clearance for OPTION-vm™ catheter

May 2006 USPTO Issues Urinary Flow Control Valve Patent