TranS1 Inc. Announces Agreement to Acquire Baxano, Inc. and $17.2M Financing Commitment

Conference Call to be held on March 4, 2013 at 8:30 a.m. EST

Combination Adds Rapidly Growing Minimally Invasive Spinal Decompression Technology
and Large Surgeon User Base

Baxano Shareholders Commit $15.3M in Concurrent Financing

RALEIGH, NC — (GLOBE NEWSWIRE) – March 4, 2013 – TranS1 Inc. (NASDAQ:TSON), a medical device company focused on designing, developing and marketing products to treat degenerative conditions of the spine affecting the lumbar region, today announced that it has entered into a definitive agreement to acquire Baxano, Inc., a privately-held medical device company that manufactures and markets the iO-Flex® system utilized in standard spinal decompression surgery and is developing the iO-Tome™ system, a precision facetectomy instrument.

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Baxano, Inc. Announces Milestone in Clinical Use of iO-Flex® Technology

San Jose, CA – February 19, 2013 – Baxano, Inc. announced today that it has surpassed a significant milestone with over 5,000 patients, representing nearly 10,000 neural foramen, treated with the iO-Flex® System for lumbar spinal decompression since the time the product became commercially available in late 2009. “Innovative technologies must advance patient care and provide value to the healthcare system,” reported Sylvain Palmer, MD, from Mission Viejo, California. “Baxano’s clinical results and commitment to demonstrate improvement in cost-effective patient care are extremely encouraging for patients suffering from lumbar spinal stenosis.”

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Baxano iO-Flex® System Featured on NBC 10 News

Baxano’s iO-Tome™ Device Receives FDA Clearance

San Jose, CA – October 9, 2012 – Baxano, Inc., a Silicon Valley based medical device company and manufacturer of the iO-Flex® System utilized in spinal decompression surgery, announced today that it has received FDA clearance to market its new iO-Tome™ instrument. The iO-Tome instrument utilizes Baxano’s flagship iO-Flex platform to deliver a new MicroBlade Shaver® design configured to rapidly and precisely remove the facet joint which is commonly performed in spinal fusion applications. “One of the more technically challenging steps of a less invasive fusion procedure such as a transforaminal lumbar interbody fusion (TLIF) is performing a good facetectomy,” commented Robert Isaacs, MD, a neurosurgeon from Durham, North Carolina. “This new instrument can change this step to be simple, fast, safe and repeatable in all hands and could reduce the learning curve significantly.”

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Quick Recovery with the iO-Flex® System – NBC News

See the latest NBC News Story on the iO-Flex® System. A tremendous patient story!

Baxano’s iO-Flex® Technology Highlighted in Clinical Interventions in Aging

San Jose, CA – July 26, 2012 – Baxano, Inc., the manufacturer of the innovative and cost-effective iO-Flex® System, announced today the publication of a peer-reviewed study highlighting the advantages of the flagship iO-Flex technology in performing lumbar spinal decompression, a procedure that can be done with and without spinal fusion. The July issue of Clinical Interventions in Aging features an article entitled “Facet-sparing lumbar decompression with a minimally invasive flexible MicroBlade Shaver® versus traditional decompression: quantitative radiographic assessment” (Clin Interv Aging. 2012;7:257-66. Epub 20 July 2012) from a study performed by several neuro and orthopaedic spine surgeons, including lead authors Carl Lauryssen, MD from Beverly Hills, CA and Sigurd Berven, MD from UC, San Francisco.

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Baxano Completes Enrollment in Lumbar Spinal Stenosis Study

San Jose, CA – May 22, 2012 – Baxano, Inc., a Silicon Valley based medical device company and manufacturer of the iO-Flex® System used in spinal decompression surgery, today announced it has completed enrollment in its iO-Flex Study. The iO-Flex Study is a post-market clinical performance evaluation of the company’s flagship surgical system for decompressing patients diagnosed with moderate to severe lumbar spinal stenosis. “Patients are experiencing rapid, pronounced improvement in symptoms. Importantly, the surgical response has been sustained,” reported San Francisco/Bay Area neurosurgeon Lawrence Dickinson, MD, one of the study’s lead investigators. “When compared to historical controls, preliminary results suggest patients treated with the iO-Flex System are experiencing shorter hospital stays, less blood loss, and fewer complications.”

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Baxano Receives CE Mark for iO-Flex® System

San Jose, CA – March 6, 2012 – Baxano, Inc., a Silicon Valley based medical device company and manufacturer of the iO-Flex® System for spinal decompression surgery, announced today that it has received CE Mark approval allowing for future expansion into European markets. Already FDA cleared, Baxano’s flagship iO-Flex System has rapidly gained interest among US spine and neurosurgeons as the first minimally invasive set of flexible instruments designed to target lumbar stenosis in the central canal, lateral recess, and neural foramen with minimal disruption to the patient’s healthy anatomy critical for maintaining spinal stability. It is the only treatment alternative that allows surgeons to decompress up to four nerve roots through a single laminotomy.

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Health Canada Issues Medical Device License to Baxano for iO-Flex® System

SAN JOSE, Calif., Feb 07, 2012 (BUSINESS WIRE) — Baxano, Inc., a Silicon Valley based medical device company and manufacturer of the iO-Flex(R) System for spinal decompression surgery, announced today that it has received a medical device license (license # 88060) from Health Canada permitting the company to promote its iO-Flex technology throughout Canada. Baxano’s flagship iO-Flex System is the first minimally invasive set of flexible instruments designed to target lumbar stenosis in the central canal, lateral recess, and neural foramen with minimal disruption to the patient’s healthy anatomy critical for maintaining spinal stability. It is the only treatment alternative that is able to reach and remove tissue that creates pressure on multiple nerve roots through a single laminotomy.

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CBS NEWS- “VIRGINIA THIS MORNING” Features iO-Flex® System Technology

Dr. Jed Vanichkachorn shares details on a common disorder found in folks as they age—lumbar spinal stenosis & a new treatment that could help reduce pain & injury to the spine.