August 24, 2007—IntraOp Medical Corp, Sunnyvale, Calif, announced today it has received $5.4 million of new equity and arranged for the extinguishment of over $8.7 million of notes and payables. In addition to the capital restructuring, a new President and CEO has been named, and a new Board of Directors has been appointed.

John Powers, the new CEO and president, comes from a strong business operations background with over 20 years of experience in the fast-paced wireless industry, including executive posts at metroPCS, VelociTel Inc, Crown Castle International and Motorola Inc.

Donald A. Goer, PhD, former president and CEO of IntraOp and now its chief scientist, said, "The new capital and debt restructuring will provide IntraOp with the resources it needs to accelerate its growth strategy. With the addition of John to our team, I can focus my efforts on working with the leading clinical practitioners to enhance and expand the technology needed to make IOERT a standard of care for cancer patients."