Crospon Wins Connaught Business Achievers Award

Company completes additional €500,000 Funding

Galway, Thursday 4th December 2008 – Crospon, a medical device developer based in
Galway is delighted to announce it has won a Connaught Business Achievers Award for 2008 in
the ‘Ones to Watch’ category. Now in its 15th Year, the Ulster Bank Business Achievers Awards
aims to reward success at a provincial level before finalists go forward to an all-island awards
ceremony. The Regional winners were announced at a reception held on Wednesday 3rd
December at the Clayton Hotel, Galway.

Crospon Limited develops leading edge minimally invasive medical devices for monitoring,
diagnosis and therapy in the areas of endocrinology and gastroenterology.
Commenting, John O’Dea, CEO Crospon Ltd said, “We are absolutely delighted to have won the
2008 ‘Ones to Watch’ Business Achievers Award for Connaught. The quality of the other
companies on the shortlist underlines the merit of the Ulster Bank Business Achievers Awards.
As a company we will be looking forward to the national awards and hope to represent
Connaught with distinction.”

The company also announced today that it has completed an additional €500,000 funding
round. This follows on from the announcement earlier this year of the completion of a €3m
round of financing. Crospon secured an initial €2.3m seed funding secured in June 2007. This
additional funding will be primarily used for the completion of development, manufacturing
startup, and preparation to market the company’s EndoFLIP^® system that is used to enhance
diagnosis and assist in the surgical treatment of gastroesophageal reflux disorder (GERD).

The company also launched a new EndoFLIP^® website http://www.EndoFLIP^®.com. The EndoFLIP^®
system is the first of a range of products the company plans to bring to market.
In November, Crospon and HP’s Smart Drug Delivery Patch was listed in Popular Science’s
magazines annual “Best of What’s New” for 2008. The Patch technology was one of just eleven
detailed in the Health category.