Exhibit 10.1

                          SECURITIES PURCHASE AGREEMENT

      This Securities Purchase Agreement (this "Agreement") is dated as of
August 9, 2005, among MicroMed Technology, Inc., a Delaware corporation (the
"Company") and Salmon Express, Inc., a Nevada corporation which will
reincorporate in Delaware under the name MicroMed Cardiovalcular, Inc. in
connection with the Reverse Merger, as that term is defined below ("SEI"), on
the one hand, and each purchaser identified on the signature pages hereto (each,
including its successors and assigns, a "Purchaser" and collectively the
"Purchasers") on the other hand; and

      WHEREAS, subject to the terms and conditions set forth in this Agreement
and pursuant to Section 4(2) of the Securities Act (as defined below), and Rule
506 promulgated thereunder, the Company desires to issue and sell to each
Purchaser, and each Purchaser, severally and not jointly, desires to purchase
from the Company in the aggregate, up to $5,000,000 of shares of Common Stock
and Warrants on the Closing Date.

      WHEREAS, immediately after the Closing, SEI's wholly owned subsidiary will
merge with and into the Company so that the Company will become a wholly owned
subsidiary of SEI (the "Reverse Merger"). Pursuant to the Reverse Merger, SEI
will issue to the stockholders of the Company, including the Purchasers, shares
of SEI's common stock and warrants and options to purchase shares of SEI's
common stock in exchange for all of the issued and outstanding shares of the
Company's common stock and warrants and options to purchase shares of the
Company's common stock, respectively, including the Securities otherwise
issuable to the Purchaser pursuant to this Agreement.

      NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this
Agreement, and for other good and valuable consideration the receipt and
adequacy of which are hereby acknowledged, the Company and each Purchaser agrees
as follows:


                                   ARTICLE I
                                   DEFINITIONS

      1.1 Definitions. In addition to the terms defined elsewhere in this
Agreement, for all purposes of this Agreement, the following terms have the
meanings indicated in this Section 1.1:

            "Action" shall have the meaning ascribed to such term in Section
3.1(i) .

            "Affiliate" means any Person that, directly or indirectly through
one or more intermediaries, controls or is controlled by or is under common
control with a Person as such terms are used in and construed under Rule 144.
With respect to a Purchaser, any investment fund or managed account that is
managed on a discretionary basis by the same investment manager as such
Purchaser will be deemed to be an Affiliate of such Purchaser.

            "Closing" means the closing of the purchase and sale of the Shares
and the Warrants pursuant to Section 2.1.


<PAGE>

            "Closing Date" means the date when all of the Transaction Documents
have been executed and delivered by the applicable parties thereto, and all
conditions precedent to (i) the Purchasers' obligations to pay the Subscription
Amount and (ii) the Company's obligations to deliver the Securities have been
satisfied or waived.

            "Commission" means the Securities and Exchange Commission.

            "Common Stock" means the common stock of the Company, par value
$0.001 per share, and any securities into which such common stock may hereafter
be reclassified.

            "Common Stock Equivalents" means any securities of the Company or
the Subsidiaries which would entitle the holder thereof to acquire at any time
Common Stock, including without limitation, any debt, preferred stock, rights,
options, warrants or other instrument that is at any time convertible into or
exchangeable for, or otherwise entitles the holder thereof to receive, Common
Stock.

            "Disclosure Schedules" means the Disclosure Schedules of the Company
delivered concurrently herewith.

            "Effective Date" means the date that the Registration Statement is
first declared effective by the Commission.

            "Exchange Act" means the Securities Exchange Act of 1934, as
amended.

            "Exempt Issuance" means the issuance of (a) shares of Common Stock
or options to employees, officers or directors of the Company pursuant to any
stock or option plan or other arrangement duly adopted by a majority of the
non-employee members of the Board of Directors of the Company or a majority of
the members of a committee of non-employee directors established for such
purpose, (b) securities upon the exercise of or conversion of any securities
issued hereunder, or convertible securities, options or warrants issued and
outstanding on the date of this Agreement, provided that such securities have
not been amended since the date of this Agreement to increase the number of such
securities, and (c) securities issued pursuant to strategic transactions with an
operating company in a business synergistic with the business of the Company and
in which the Company receives benefits in addition to the investment of funds or
pursuant to acquisitions or equipment leases, but shall not include a
transaction in which the Company is issuing securities primarily for the purpose
of raising capital or to an entity whose primary business is investing in
securities.

            "GAAP" shall have the meaning ascribed to such term in Section
3.1(h).

            "Intellectual Property Rights" shall have the meaning ascribed to
such term in Section 3.1(k).

            "Legend Removal Date" shall have the meaning ascribed to such term
in Section 4.1(c).

            "Liens" means a lien, charge, security interest, encumbrance, right
of first refusal, preemptive right or other restriction.


                                       2
<PAGE>

            "Material Adverse Effect" shall have the meaning ascribed to such
term in Section 3.1(b).

            "Material Permits" shall have the meaning ascribed to such term in
Section 3.1(i).

            "Merger Agreement" means that certain Agreement and Plan of Merger
dated as of January 31, 2005 among SEI, the Company, Salmon Acquisition Corp.
and Pete Smith, Sr. as amended by that certain First Amendment to Agreement and
Plan of Merger dated May 16, 2005, and that certain Second Amendment to
Agreement and Plan of Merger dated as of July 29, 2005.

            "Per Share Purchase Price" equals $1.33, subject to adjustment for
reverse and forward stock splits, stock dividends, stock combinations and other
similar transactions of the Common Stock that occur after the date of this
Agreement.

            "Person" means an individual or corporation, partnership, trust,
incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof)
or other entity of any kind.

            "Placement Agent Agreement" means that certain Placement Agent
Agreement between the Company and Hunter World Markets, Inc.

            "Proceeding" means an action, claim, suit, investigation or
proceeding (including, without limitation, an investigation or partial
proceeding, such as a deposition), whether commenced or threatened.

            "Registration Rights Agreement" means the Registration Rights
Agreement, dated as of the date of this Agreement, among SEI and each Purchaser,
providing for the registration of the Shares and Warrant Shares in the form of
Exhibit A attached hereto.

            "Registration Statement" means a registration statement meeting the
requirements set forth in the Registration Rights Agreement and covering the
resale by the Purchasers of the Shares and Warrant Shares.

            "Required Approvals" shall have the meaning ascribed to such term in
Section 3.1(e).

            "Rule 144" means Rule 144 promulgated by the Commission pursuant to
the Securities Act, as such Rule may be amended from time to time, or any
similar rule or regulation hereafter adopted by the Commission having
substantially the same effect as such Rule.

            "Securities" means the Shares, the Warrants and the Warrant Shares.

            "Securities Act" means the Securities Act of 1933, as amended.

            "Shares" means the shares of the Company's Common Stock issued or
issuable to each Purchaser pursuant to this Agreement.


                                       3
<PAGE>

            "Subscription Amount" means, as to each Purchaser, the amounts set
forth below such Purchaser's signature block on the signature page hereto, in
United States dollars and in immediately available funds.

            "Subsidiary" shall mean the subsidiaries of the Company, if any, set
forth on Schedule 3.1(a).

            "Trading Day" means a day on which the Common Stock is traded on a
Trading Market.

            "Trading Market" means the following markets or exchanges on which
the Common Stock is listed or quoted for trading on the date in question: the
American Stock Exchange, the New York Stock Exchange, the Nasdaq National
Market, the Nasdaq SmallCap Market, the OTC Bulletin Board or the Pink Sheets.

            "Transaction Documents" means this Agreement, Warrants and the there
Registration Rights Agreement and any other documents or agreements executed in
connection with the transactions contemplated hereunder.

            "Warrants" means the Common Stock Purchase Warrants to purchase
shares of the Company's common stock, in the form of Exhibit B, delivered to the
Purchasers at the Closing in accordance with Section 2.2(a)(v) hereof, which
warrants shall be exercisable one year from the date of issuance upon issuance
for a term of seven years from the date of issuance and have an exercise price
equal to $1.33, subject to adjustment as provided therein.

            "Warrant Shares" means the shares of the Company's Shares issuable
upon exercise of the Warrants.


                                   ARTICLE II
                                PURCHASE AND SALE

      2.1 Closing. The parties to this Agreement acknowledge that the issuer of
the Shares and Warrants pursuant to this Agreement is the Company, which shall
effect the Reverse Merger with SEI concurrently with the Closing pursuant to
which all of the issued and outstanding shares of the Company's common stock and
options and warrants exercisable to purchase shares of the Company's common
stock (including the Shares and Warrants) will be exchanged for shares of the
SEI's common stock and options and warrants exercisable to purchase shares of
the SEI's common stock, respectively. On the Closing Date, each Purchaser shall
purchase from the Company, severally and not jointly with the other Purchasers,
and the Company shall issue and sell to each Purchaser, (a) a number of Shares
equal to such Purchaser's Subscription Amount divided by the Per Share Purchase
Price, it being understood, however, that, in lieu of the Shares, and for the
sole purpose of convenience, each Purchaser shall receive an equivalent number
of shares of common stock in the name of SEI (the "SEI Shares"), giving effect
to the exchange of securities pursuant to the Reverse Merger, and (b) the
Warrants as determined pursuant to Section 2.2(a)(v), certain of which are
hereby assigned as described in Section 2.2(a)(v) hereof, however, it being
understood that, in lieu of the Warrants, and for the sole purpose of
convenience, each Purchaser shall receive an equivalent number of warrants to
purchase shares of common stock in the name of SEI (the "SEI Warrants"), giving
effect to the exchange of


                                       4
<PAGE>

securities pursuant to the Reverse Merger. The aggregate Subscription Amounts
for the Shares sold hereunder shall be up to $5,000,000. Upon satisfaction of
the conditions set forth in Section 2.3, the Closing shall occur at the offices
of Kirkpatrick & Lockhart Nicholson Graham LLP, located at 10100 Santa Monica
Blvd., 7th Floor, Los Angeles, California 90067, or such other location as the
parties shall mutually agree.

      2.2 Deliveries.

            (a) On the Closing Date, the Company shall deliver or cause to be
delivered to each Purchaser the following:

                  (i) this Agreement duly executed by the Company;

                  (ii) a copy of the irrevocable instructions to SEI transfer
agent instructing the transfer agent to deliver, on an expedited basis, a
certificate evidencing a number of SEI Shares equal to such Purchaser's
Subscription Amount divided by the Per Share Purchase Price, registered in the
name of such Purchaser;

                  (iii) the Registration Rights Agreement duly executed by SEI;
and

                  (iv) evidence satisfactory to such Purchaser and its counsel
that the Reverse Merger has occurred; and

                  (v) a SEI Warrant, registered in the name of such Purchaser,
pursuant to which such Purchaser shall have the right to acquire up to the
number of shares of Common Stock equal to 60% of the Shares to be issued to such
Purchaser, it being understood and agreed that all SEI Warrants issuable to
Absolute Return Europe Fund, European Catalyst Fund and Absolute Octane Fund
hereunder shall be assigned to and issued in the name of Hunter World Markets,
Inc..

            (b) On the Closing Date, each Purchaser shall deliver or cause to be
delivered to the Company the following:

                  (i) this Agreement duly executed by such Purchaser;

                  (ii) such Purchaser's Subscription Amount by wire transfer of
same day funds to the account as specified in writing by the Company; and

                  (iii) the Registration Rights Agreement duly executed by such
Purchaser.

      2.3 Closing Conditions.

            (a) The obligations of the Company hereunder in connection with the
Closing are subject to the following conditions being met:

                  (i) the accuracy in all material respects when made and on the
Closing Date of the representations and warranties of the Purchasers contained
herein;


                                       5
<PAGE>

                  (ii) all obligations, covenants and agreements of the
Purchasers required to be performed at or prior to the Closing Date shall have
been performed; and

                  (iii) the delivery by the Purchasers of the items set forth in
Section 2.2(b) of this Agreement.

            (b) The respective obligations of the Purchasers hereunder in
connection with the Closing are subject to the following conditions being met:

                  (i) the accuracy in all material respects on the Closing Date
of the representations and warranties of the Company contained herein;

                  (ii) all obligations, covenants and agreements of the Company
required to be performed at or prior to the Closing Date shall have been
performed;

                  (iii) the delivery by the Company and SEI, as the case may be,
of the items set forth in Section 2.2(a) of this Agreement;

                  (iv) there shall have been no Material Adverse Effect with
respect to the Company since the date hereof; and

                  (v) the Reverse Merger shall have been consummated immediately
after the Closing on the terms set forth in the Merger Agreement, including that
all the conditions to Closing in favor of the Company have been satisfied.


                                  ARTICLE III
                         REPRESENTATIONS AND WARRANTIES

      3.1 Representations and Warranties of the Company. Except as set forth
under the corresponding section of the Disclosure Schedules which Disclosure
Schedules shall be deemed a part hereof, the Company hereby makes the
representations and warranties set forth below to each Purchaser:

            (a) Subsidiaries. All of the direct and indirect subsidiaries of the
Company, if any, are set forth on Schedule 3.1(a). The Company owns, directly or
indirectly, all of the capital stock or other equity interests of each
Subsidiary free and clear of any Liens, and all the issued and outstanding
shares of capital stock of each Subsidiary are validly issued and are fully
paid, non-assessable and free of preemptive and similar rights to subscribe for
or purchase securities. If the Company has no subsidiaries, then references in
the Transaction Documents to the Subsidiaries will be disregarded.

            (b) Organization and Qualification. Each of the Company and the
Subsidiaries is an entity duly incorporated or otherwise organized, validly
existing and in good standing under the laws of the jurisdiction of its
incorporation or organization (as applicable), with the requisite power and
authority to own and use its properties and assets and to carry on its business
as currently conducted. Neither the Company nor any Subsidiary is in violation
or default of any of the provisions of its respective certificate or articles of
incorporation, bylaws or other organizational or charter documents. Each of the
Company and the Subsidiaries is duly


                                       6
<PAGE>

qualified to conduct business and is in good standing as a foreign corporation
or other entity in each jurisdiction in which the nature of the business
conducted or property owned by it makes such qualification necessary, except
where the failure to be so qualified or in good standing, as the case may be,
could not have or reasonably be expected to result in (i) a material adverse
effect on the legality, validity or enforceability of any Transaction Documents,
(ii) a material adverse effect on the results of operations, assets, business,
prospects or financial condition of the Company and the Subsidiaries, taken as a
whole, or (iii) a material adverse effect on the Company's ability to perform in
any material respect on a timely basis its obligations under any Transaction
Documents (any of (i), (ii) or (iii), a "Material Adverse Effect") and no
Proceeding has been instituted in any such jurisdiction revoking, limiting or
curtailing or seeking to revoke, limit or curtail such power and authority or
qualification.

            (c) Authorization; Enforcement. The Company has the requisite
corporate power and authority to enter into and to consummate the transactions
contemplated by each of the Transaction Documents and otherwise to carry out its
obligations thereunder. The execution and delivery of each of the Transaction
Documents by the Company and the consummation by it of the transactions
contemplated thereby have been duly authorized by all necessary action on the
part of the Company and no further action is required by the Company in
connection therewith other than in connection with the Required Approvals. Each
of the Transaction Documents has been (or upon delivery will have been) duly
executed by the Company and, when delivered in accordance with the terms hereof,
will constitute the valid and binding obligation of the Company enforceable
against the Company in accordance with its terms except (i) as limited by
applicable bankruptcy, insolvency, reorganization, moratorium and other laws of
general application affecting enforcement of creditors' rights generally, (ii)
as limited by laws relating to the availability of specific performance,
injunctive relief or other equitable remedies and (iii) insofar as
indemnification and contribution provisions may be limited by applicable law.

            (d) No Conflicts. The execution, delivery and performance of the
Transaction Documents by the Company, the issuance and sale of the Shares and
the consummation by the Company of the other transactions contemplated thereby
do not and will not (i) conflict with or violate any provision of the Company's
or any Subsidiary's certificate or articles of incorporation, bylaws or other
organizational or charter documents, or (ii) conflict with, or constitute a
default (or an event that with notice or lapse of time or both would become a
default) under, result in the creation of any Lien upon any of the properties or
assets of the Company or any Subsidiary, or give to others any rights of
termination, amendment, acceleration or cancellation (with or without notice,
lapse of time or both) of, any agreement, credit facility, debt or other
instrument (evidencing a Company or Subsidiary debt or otherwise) or other
understanding to which the Company or any Subsidiary is a party or by which any
property or asset of the Company or any Subsidiary is bound or affected, or
(iii) subject to the Required Approvals, conflict with or result in a violation
of any law, rule, regulation, order, judgment, injunction, decree or other
restriction of any court or governmental authority to which the Company or a
Subsidiary is subject (including federal and state securities laws and
regulations), or by which any property or asset of the Company or a Subsidiary
is bound or affected; except in the case of each of clauses (ii) and (iii), such
as could not have or reasonably be expected to result in a Material Adverse
Effect.


                                       7
<PAGE>

            (e) Filings, Consents and Approvals. The Company is not required to
obtain any consent, waiver, authorization or order of, give any notice to, or
make any filing or registration with, any court or other federal, state, local
or other governmental authority or other Person in connection with the
execution, delivery and performance by the Company of the Transaction Documents,
other than (i) filings required pursuant to Section 4.4 of this Agreement, (ii)
the filing with the Commission of the Registration Statement, (iii)
application(s) to each applicable Trading Market for the listing of the Shares
and Warrants Shares for trading thereon in the time and manner required thereby,
and (iv) the filing of Form D with the Commission and such filings as are
required to be made under applicable state securities laws (collectively, the
"Required Approvals").

            (f) Issuance of the Securities. The Shares and Warrants are duly
authorized and, when issued and paid for in accordance with the Transaction
Documents, will be duly and validly issued, fully paid and nonassessable, free
and clear of all Liens imposed by the Company other than restrictions on
transfer provided for in the Transaction Documents. The Warrant Shares, when
issued in accordance with the terms of the Transaction Documents, will be
validly issued, fully paid and nonassessable, free and clear of all Liens
imposed by the Company. The Company has reserved from its duly authorized
capital stock the maximum number of shares of Common Stock issuable pursuant to
this Agreement and the Warrants.

            (g) Capitalization. Immediately prior to the Closing and without
giving effect to the issuance of the Company Shares or Warrants, the authorized
capital stock of the Company consists of 65,000,000 shares of common stock,
$.001 par value per share, and no shares of preferred stock. Immediately prior
to the Closing and without giving effect to the issuance of the Company Shares
or Warrants there will be 13,260,000 shares of common stock outstanding and no
shares of preferred stock outstanding. In addition, Immediately prior to the
Closing and without giving effect to the issuance of the Company Shares or
Warrants, there will outstanding options and warrants to purchase 598,528 shares
of common stock. All of the outstanding shares of capital stock of the Company
are validly issued, fully paid and nonassessable, have been issued in compliance
with all federal and state securities laws, and none of such outstanding shares
was issued in violation of any preemptive rights or similar rights to subscribe
for or purchase securities. No further approval or authorization of any
stockholder, the Board of Directors of the Company or others is required for the
issuance and sale of the Shares. There are no stockholders agreements, voting
agreements or other similar agreements with respect to the Company's capital
stock to which the Company is a party or, to the knowledge of the Company,
between or among any of the Company's stockholders.

            (h) Material Changes. Since March 31, 2005, (i) the Company has not
incurred any liabilities (contingent or otherwise) other than (A) trade payables
and accrued expenses incurred in the ordinary course of business consistent with
past practice and (B) liabilities not required to be reflected in the Financial
Statements (as defined below) pursuant to GAAP, (ii) the Company has not altered
its method of accounting, and (iii) the Company has not declared or made any
dividend or distribution of cash or other property to its stockholders or
purchased, redeemed or made any agreements to purchase or redeem any shares of
its capital stock.


                                       8
<PAGE>

            (i) Litigation. There is no action, suit, inquiry, notice of
violation, proceeding or investigation pending or, to the knowledge of the
Company, threatened against or affecting the Company, any Subsidiary or any of
their respective properties before or by any court, arbitrator, governmental or
administrative agency or regulatory authority (federal, state, county, local or
foreign) (collectively, an "Action") which (i) adversely affects or challenges
the legality, validity or enforceability of any of the Transaction Documents or
the Securities or (ii) could, if there were an unfavorable decision, have or
reasonably be expected to result in a Material Adverse Effect. Neither the
Company nor any Subsidiary, nor any current director or officer thereof, is or
has been the subject of any Action involving a claim of violation of or
liability under federal or state securities laws or a claim of breach of
fiduciary duty. There has not been, and to the knowledge of the Company, there
is not pending or contemplated, any investigation by the Commission involving
the Company or any current director or officer of the Company.

            (j) Permits. The Company and the Subsidiaries possess all
certificates, authorizations and permits issued by the appropriate federal,
state, local or foreign regulatory authorities necessary to conduct their
respective businesses, except where the failure to possess such permits could
not have or reasonably be expected to result in a Material Adverse Effect
("Material Permits"), and neither the Company nor any Subsidiary has received
any notice of proceedings relating to the revocation or modification of any
Material Permit.

            (k) Patents and Trademarks. The Company and the Subsidiaries have,
or have rights to use, all patents, patent applications, trademarks, trademark
applications, service marks, trade names, copyrights, licenses and other similar
rights necessary or material for use in connection with their respective
businesses and which the failure to so have could have a Material Adverse Effect
(collectively, the "Intellectual Property Rights"). Neither the Company nor any
Subsidiary has received a written notice that the Intellectual Property Rights
used by the Company or any Subsidiary violates or infringes upon the rights of
any Person. To the knowledge of the Company, all such Intellectual Property
Rights are enforceable and there is no existing infringement by another Person
of any of the Intellectual Property Rights of others.

            (l) Certain Fees. Other than fees payable to Hunter World Markets,
Inc., no brokerage or finder's fees or commissions are or will be payable by the
Company to any broker, financial advisor or consultant, finder, placement agent,
investment banker, bank or other Person with respect to the transactions
contemplated by this Agreement. The Purchasers shall have no obligation with
respect to any fees or with respect to any claims made by or on behalf of other
Persons for fees of a type contemplated in this Section that may be due in
connection with the transactions contemplated by this Agreement.

            (m) Private Placement. Assuming the accuracy of the Purchasers'
representations and warranties set forth in Section 3.2, no registration under
the Securities Act is required for the offer and sale of the Securities by the
Company to the Purchasers as contemplated hereby. Neither the Company nor any
person acting on behalf of the Company has offered or sold any of the Securities
by any form of general solicitation or general advertising. The Company has
offered the Securities for sale only to the Purchasers and certain other
"accredited investors" within the meaning of Rule 501 under the Securities Act.


                                       9
<PAGE>

            (n) Investment Company. The Company is not, and is not an Affiliate
of, and immediately after receipt of payment for the Shares, will not be or be
an Affiliate of, an "investment company" within the meaning of the Investment
Company Act of 1940, as amended. The Company shall conduct its business in a
manner so that it will not become subject to the Investment Company Act.

            (o) Registration Rights. No Person has any right to cause the
Company to effect the registration under the Securities Act of any securities of
the Company.

            (p) Financial Statements. The Company has made available to the
Purchasers its (a) audited balance sheets as at December 31, 2003 and 2004 and
related statements of operations, changes in stockholders equity and cash flows
for the years ended December 31, 2004 and 2003, and (b) unaudited balance sheets
as at March 31, 2005 and the related statement of operations, changes in
stockholders equity and cash flows for the three months ended March 31, 2005
(collectively, the "Financial Statements"). The Financial Statements (i) were in
accordance with the books and records of the Company, (ii) are correct and
complete, (iii) fairly present the financial position and results of operations
of the Company as of the dates indicated, and (iv) are prepared in accordance
with U.S. GAAP (except that (x) unaudited financial statements may not be in
accordance with GAAP because of the absence of footnotes normally contained
therein, and (y) interim (unaudited) financials are subject to normal year-end
audit adjustments that in the aggregate will not have a material adverse effect
on the Company or its business, financial conditions or results of operations).

      3.2 Representations and Warranties of the Purchasers. Each Purchaser
hereby, for itself and for no other Purchaser, represents and warrants as of the
date hereof and as of the Closing Date to the Company as follows:

            (a) Organization; Authority. Such Purchaser is an entity duly
organized, validly existing and in good standing under the laws of the
jurisdiction of its organization with full right, corporate or partnership power
and authority to enter into and to consummate the transactions contemplated by
the Transaction Documents and otherwise to carry out its obligations thereunder.
The execution, delivery and performance by such Purchaser of the transactions
contemplated by this Agreement have been duly authorized by all necessary
corporate or similar action on the part of such Purchaser. Each of the
Transaction Documents to which it is a party has been duly executed by such
Purchaser, and when delivered by such Purchaser in accordance with the terms
hereof, will constitute the valid and legally binding obligation of such
Purchaser, enforceable against it in accordance with its terms, except (i) as
limited by general equitable principles and applicable bankruptcy, insolvency,
reorganization, moratorium and other laws of general application affecting
enforcement of creditors' rights generally, (ii) as limited by laws relating to
the availability of specific performance, injunctive relief or other equitable
remedies and (iii) insofar as indemnification and contribution provisions may be
limited by applicable law.

            (b) Investment Intent. Such Purchaser understands that the
Securities are "restricted securities" and have not been registered under the
Securities Act or any applicable state securities law and is acquiring the
Securities as principal for its own account and not with a view to or for
distributing or reselling such Securities or any part thereof, has no present


                                       10
<PAGE>

intention of distributing any of such Securities and has no arrangement or
understanding with any other persons regarding the distribution of such
Securities (this representation and warranty not limiting such Purchaser's right
to sell the Securities pursuant to the Registration Statement or otherwise in
compliance with applicable federal and state securities laws). Such Purchaser is
acquiring the Securities hereunder in the ordinary course of its business. Such
Purchaser does not have any agreement or understanding, directly or indirectly,
with any Person to distribute any of the Securities.

            (c) Purchaser Status. At the time such Purchaser was offered the
Securities, it was, and at the date hereof it is, and on each date on which it
exercises any Warrants, it will be either: (i) an "accredited investor" as
defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities
Act or (ii) a "qualified institutional buyer" as defined in Rule 144A(a) under
the Securities Act. Such Purchaser is not required to be registered as a
broker-dealer under Section 15 of the Exchange Act.

            (d) Experience of Such Purchaser. Such Purchaser, either alone or
together with its representatives, has such knowledge, sophistication and
experience in business and financial matters so as to be capable of evaluating
the merits and risks of the prospective investment in the Securities, and has so
evaluated the merits and risks of such investment. Such Purchaser is able to
bear the economic risk of an investment in the Securities and, at the present
time, is able to afford a complete loss of such investment.

            (e) General Solicitation. Such Purchaser is not purchasing the
Securities as a result of any advertisement, article, notice or other
communication regarding the Securities published in any newspaper, magazine or
similar media or broadcast over television or radio or presented at any seminar
or any other general solicitation or general advertisement.

            (f) Nonreliance. SEI has filed an information statement on Schedule
14C with the SEC, which was provided to SEI stockholders that did not vote to
approve the Merger. Each Purchaser acknowledges that he/she/it has not been
provided a copy of the Schedule 14C by the Company or Hunter World Markets, Inc.
Each Purchaser acknowledges that he/she/it has in no way has relied on the
Schedule 14C to evaluate the suitability of a potential investment in the
Company.


                                   ARTICLE IV
                         OTHER AGREEMENTS OF THE PARTIES

      4.1 Transfer Restrictions.

            (a) The Securities may only be disposed of in compliance with state
and federal securities laws. In connection with any transfer of Securities other
than pursuant to an effective registration statement or Rule 144, to the Company
or to an affiliate of a Purchaser or in connection with a pledge as contemplated
in Section 4.1(b), SEI may require the transferor thereof to provide to SEI an
opinion of counsel selected by the transferor and reasonably acceptable to SEI,
the form and substance of which opinion shall be reasonably satisfactory to SEI,
to the effect that such transfer does not require registration of such
transferred Securities under the Securities Act. As a condition of transfer, any
such transferee shall agree in writing to


                                       11
<PAGE>

be bound by the terms of this Agreement and shall have the rights of a Purchaser
under this Agreement and the Registration Rights Agreement.

            (b) The Purchasers agree to the imprinting, so long as is required
by this Section 4.1(b), of a legend on any of the Securities in the following
form:

            THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND
            EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN
            RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
            ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY,
            MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
            REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
            AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
            REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE
            WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL
            OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE
            OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THESE
            SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN
            ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A
            FINANCIAL INSTITUTION THAT IS AN "ACCREDITED INVESTOR" AS DEFINED IN
            RULE 501(a) UNDER THE SECURITIES ACT.

      SEI acknowledges and agrees that a Purchaser may from time to time pledge
pursuant to a bona fide margin agreement with a registered broker-dealer or
grant a security interest in some or all of the Securities to a financial
institution that is an "accredited investor" as defined in Rule 501(a) under the
Securities Act and who agrees to be bound by the provisions of this Agreement
and the Registration Rights Agreement and, if required under the terms of such
arrangement, such Purchaser may transfer pledged or secured Securities to the
pledgees or secured parties. Such a pledge or transfer would not be subject to
approval of SEI and no legal opinion of legal counsel of the pledgee, secured
party or pledgor shall be required in connection therewith. Further, no notice
shall be required of such pledge. At the appropriate Purchaser's expense, SEI
will execute and deliver such reasonable documentation as a pledgee or secured
party of Securities may reasonably request in connection with a pledge or
transfer of the Securities, including, if the Securities are subject to
registration pursuant to the Registration Rights Agreement, the preparation and
filing of any required prospectus supplement under Rule 424(b)(3) under the
Securities Act or other applicable provision of the Securities Act to
appropriately amend the list of Selling Stockholders thereunder.

            (c) Certificates evidencing the Shares and the Warrant Shares shall
not contain any legend (including the legend set forth in Section 4.1(b)), (i)
while a registration statement (including the Registration Statement) covering
the resale of such security is effective under the Securities Act provided that
at the time a Purchaser requests a removal of the legend


                                       12
<PAGE>

on any certificate evidencing all or any portion of any of the Securities, such
Purchaser (or a broker acting on such Purchaser's behalf) provides to SEI (or to
the transfer agent on SEI's behalf), a representation that any of the
Securities, sold or to be sold by such Purchaser have been, or will be, sold in
accordance with the plan of distribution set forth in the Prospectus and in
compliance with the prospectus delivery requirements under the Securities Act,
or (ii) following any sale of such Shares or the Warrant Shares pursuant to Rule
144, or (iii) if such Shares or Warrant Shares are eligible for sale under Rule
144(k), or (iv) if such legend is not required under applicable requirements of
the Securities Act (including judicial interpretations and pronouncements issued
by the Staff of the Commission). If all or any portion of a Warrant is exercised
at a time when there is an effective registration statement to cover the resale
of the Warrant Shares, such Warrant Shares shall be issued free of all legends.
SEI agrees that following the Effective Date or at such time as such legend is
no longer required under this Section 4.1(c), it will, no later than three
Trading Days following the delivery by a Purchaser to SEI or SEI's transfer
agent of a certificate representing Shares or Warrant Shares, as the case may
be, issued with a restrictive legend (such date, the "Legend Removal Date"),
deliver or cause to be delivered to such Purchaser a certificate representing
such Securities that is free from all restrictive and other legends. SEI may not
make any notation on its records or give instructions to any transfer agent of
SEI that enlarge the restrictions on transfer set forth in this Section.

            (d) Each Purchaser, severally and not jointly with the other
Purchasers, agrees that the removal of the restrictive legend from certificates
representing Securities as set forth in this Section 4.1 is predicated upon the
SEI's reliance that the Purchaser will sell any Securities pursuant to either
the registration requirements of the Securities Act, including any applicable
prospectus delivery requirements, or an exemption therefrom.

            (e) Nothing in this Section 4.1 shall require the Company to take
any action in violation of the Securities Act of 1933, as amended.

      4.2 Furnishing of Information. As long as any Purchaser owns Securities,
SEI will use best efforts to timely file (or obtain extensions in respect
thereof and file within the applicable grace period) all reports required to be
filed by SEI after the date hereof pursuant to the Exchange Act. As long as any
Purchaser owns Securities, if SEI is not required to file reports pursuant to
the Exchange Act, it will prepare and furnish to the Purchasers and make
publicly available in accordance with Rule 144(c) such information as is
required for the Purchasers to sell the Securities under Rule 144. SEI further
covenants that it will take such further action as any holder of Securities may
reasonably request, all to the extent required from time to time to enable such
Person to sell such Securities without registration under the Securities Act
within the limitation of the exemptions provided by Rule 144.

      4.3 Integration. Neither SEI nor the Company shall sell, offer for sale or
solicit offers to buy or otherwise negotiate in respect of any security (as
defined in Section 2 of the Securities Act) that would be integrated with the
offer or sale of the Securities in a manner that would require the registration
under the Securities Act of the sale of the Securities to the Purchasers or that
would be integrated with the offer or sale of the Securities for purposes of the
rules and regulations of any Trading Market such that it would require
shareholder approval prior to


                                       13
<PAGE>

the closing of such other transaction unless shareholder approval is obtained
before the closing of such subsequent transaction.

      4.4 Publicity. The Company, SEI and each Purchaser shall consult with each
other in issuing any other press releases with respect to the transactions
contemplated hereby, and neither the Company, SEI nor any Purchaser shall issue
any such press release or otherwise make any such public statement without the
prior consent of SEI, with respect to any press release of any Purchaser, or
without the prior consent of each Purchaser, with respect to any press release
of the Company or SEI, which consent shall not unreasonably be withheld, except
if such disclosure is required by law, in which case the disclosing party shall
promptly provide the other party with prior notice of such public statement or
communication. Notwithstanding the foregoing, neither the Company nor SEI shall
publicly disclose the name of any Purchaser, or include the name of any
Purchaser in any filing with the Commission or any regulatory agency or Trading
Market, without the prior written consent of such Purchaser, except (i) as
required by federal securities law and (ii) to the extent such disclosure is
required by law or Trading Market regulations.

      4.5 Reservation of Common Stock. As of the date hereof, each of the
Company and SEI has reserved and the Company and SEI shall continue to reserve
and keep available at all times, free of preemptive rights, a sufficient number
of shares of Common Stock for the purpose of enabling the Company and SEI to
issue the Shares and Warrant Shares pursuant to any exercise of Warrants, as the
case may be, pursuant to this Agreement.

      4.6 Equal Treatment of Purchasers. No consideration shall be offered or
paid to any person to amend or consent to a waiver or modification of any
provision of any of the Transaction Documents unless the same consideration is
also offered to all of the parties to the Transaction Documents. For
clarification purposes, this provision constitutes a separate right granted to
each Purchaser by the Company and negotiated separately by each Purchaser, and
is intended to treat for the Company the Purchasers as a class and shall not in
any way be construed as the Purchasers acting in concert or as a group with
respect to the purchase, disposition or voting of Securities or otherwise.

      4.7 Subsequent Equity Sales. Except for Exempt Issuances, from the date
hereof until the Effective Date, neither the Company nor any Subsidiary shall
issue shares of Common Stock or Common Stock Equivalents.

      4.8 Delivery of Securities After Closing. SEI shall deliver, or cause to
be delivered, the respective Shares and Warrants purchased by each Purchaser to
such Purchaser within 10 Trading Days of the Closing Date.

      4.9 Most Favored Nations. If, at any time and from time to time during the
period commencing on the Closing Date and ending on the first anniversary of the
Effective Date, SEI issues additional shares of Common Stock or Common Stock
Equivalents (the "Additional Shares") at a price or exercise price per share of
Common Stock (the "Effective Price") less than Per Share Purchase Price, then
SEI shall provide notice thereof to the Purchasers, and, within 20 business days
from receipt of such notice, the Purchasers or any of them shall have the right
to purchase additional shares of Common Stock (the "Purchase Shares") at a
purchase price equal to the par value (the "Purchase Share Price") in accordance
with the following:


                                       14
<PAGE>

      (a) there shall be calculated a per share price (the "Adjusted Price")
      determined by a fraction, the numerator of which shall be $20,000,000 PLUS
      the product of the number of Additional Shares multiplied by the Effective
      Price PLUS any prior products of previously issued Additional Shares
      multiplied by the applicable Effective Price(s) with respect to such
      issuances, and the denominator of which shall be 15,058,528 PLUS the
      number of Additional Shares PLUS any previously issued Additional Shares.

      (b) Each Purchaser shall be entitled to purchase that number of Purchase
      Shares at the Purchase Price equal to the difference between the product
      of the total dollars paid by Purchaser for shares of common stock
      hereunder (the "Purchaser Amount") divided by the Adjusted Price LESS the
      product of the Purchaser Amount divided by the Per Share Purchase Price.

      By way of example only, if the Company issued 4,000,000 Additional Shares
      at an Effective Price of $1.00 per share, and there had been no previous
      adjustments further to this Section 4.9, the Adjusted Price would be $1.26
      ($20,000,000 PLUS $4,000,000 divided by 15,037,503 PLUS 4,000,000). If the
      Purchaser purchased $1,000,000 of Common Stock further to this Agreement,
      he/she/it would be entitled to purchase 41,771 Purchase Shares (1,000,000
      divided by 1.26 or 793,651 shares LESS 1,000,000 divided by 1.33 or
      751,880 shares).

      Notwithstanding the foregoing, no adjustment will be made in respect of
Exempt Issuances.


                                   ARTICLE V
                                  MISCELLANEOUS

      5.1 Termination. This Agreement may be terminated by any Purchaser, by
written notice to the other parties, if the Closing has not been consummated on
or before August 31, 2005; provided that no such termination will affect the
right of any party to sue for any breach by the other party (or parties).

      5.2 Fees and Expenses. The Company shall deliver, prior to the Closing, a
completed and executed copy of the Closing Statement, attached hereto as Annex
A. Except as otherwise set forth in this Agreement or in the Placement Agent
Agreement, each party shall pay the fees and expenses of its advisers, counsel,
accountants and other experts, if any, and all other expenses incurred by such
party incident to the negotiation, preparation, execution, delivery and
performance of this Agreement. The Company shall pay all stamp and other taxes
and duties levied in connection with the sale of the Securities.

      5.3 Entire Agreement. The Transaction Documents, together with the
exhibits and schedules thereto, contain the entire understanding of the parties
with respect to the subject matter hereof and supersede all prior agreements and
understandings, oral or written, with respect to such matters, which the parties
acknowledge have been merged into such documents, exhibits and schedules.

      5.4 Notices. Any and all notices or other communications or deliveries
required or permitted to be provided hereunder shall be in writing and shall be
deemed given and effective


                                       15
<PAGE>

on the earliest of (a) the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile number set forth on the signature
pages attached hereto prior to 6:30 p.m. (New York City time) on a Trading Day,
(b) the next Trading Day after the date of transmission, if such notice or
communication is delivered via facsimile at the facsimile number set forth on
the signature pages attached hereto on a day that is not a Trading Day or later
than 6:30 p.m. (New York City time) on any Trading Day, (c) the second Trading
Day following the date of mailing, if sent by U.S. nationally recognized
overnight courier service, or (d) upon actual receipt by the party to whom such
notice is required to be given. The address for such notices and communications
shall be as set forth on the signature pages attached hereto.

      5.5 Amendments; Waivers. No provision of this Agreement may be waived or
amended except in a written instrument signed, in the case of an amendment, by
the Company and Purchasers holding at least 66% and Warrant Shares (exercised
and unexercised) of the Shares at such time or, in the case of a waiver, by the
party against whom enforcement of any such waiver is sought. No waiver of any
default with respect to any provision, condition or requirement of this
Agreement shall be deemed to be a continuing waiver in the future or a waiver of
any subsequent default or a waiver of any other provision, condition or
requirement hereof, nor shall any delay or omission of either party to exercise
any right hereunder in any manner impair the exercise of any such right.

      5.6 Construction. The headings herein are for convenience only, do not
constitute a part of this Agreement and shall not be deemed to limit or affect
any of the provisions hereof. The language used in this Agreement will be deemed
to be the language chosen by the parties to express their mutual intent, and no
rules of strict construction will be applied against any party.

      5.7 Successors and Assigns. This Agreement shall be binding upon and inure
to the benefit of the parties and their successors and permitted assigns. The
Company may not assign this Agreement or any rights or obligations hereunder
without the prior written consent of each Purchaser, except that any existing
obligations of the Company hereunder after the Closing shall be assigned to and
assumed by SEI. Any Purchaser may assign any or all of its rights under this
Agreement to any Person to whom such Purchaser assigns or transfers any
Securities, provided such transferee agrees in writing to be bound, with respect
to the transferred Securities, by the provisions hereof that apply to the
"Purchasers".

      5.8 No Third-Party Beneficiaries. This Agreement is intended for the
benefit of the parties hereto and their respective successors and permitted
assigns and is not for the benefit of, nor may any provision hereof be enforced
by, any other Person.

      5.9 Governing Law. All questions concerning the construction, validity,
enforcement and interpretation of the Transaction Documents shall be governed by
and construed and enforced in accordance with the internal laws of the State of
California, without regard to the principles of conflicts of law thereof. Each
party agrees that all legal proceedings concerning the interpretations,
enforcement and defense of the transactions contemplated by this Agreement and
any other Transaction Documents (whether brought against a party hereto or its
respective affiliates, directors, officers, shareholders, employees or agents)
shall be commenced exclusively in the state and federal courts sitting in the
City of Los Angeles. Each party hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts sitting in the City of Los


                                       16
<PAGE>

Angeles, for the adjudication of any dispute hereunder or in connection herewith
or with any transaction contemplated hereby or discussed herein (including with
respect to the enforcement of any of the Transaction Documents), and hereby
irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such
court, that such suit, action or proceeding is improper or inconvenient venue
for such proceeding. Each party hereby irrevocably waives personal service of
process and consents to process being served in any such suit, action or
proceeding by mailing a copy thereof via registered or certified mail or
overnight delivery (with evidence of delivery) to such party at the address in
effect for notices to it under this Agreement and agrees that such service shall
constitute good and sufficient service of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process
in any manner permitted by law. The parties hereby waive all rights to a trial
by jury. If either party shall commence an action or proceeding to enforce any
provisions of the Transaction Documents, then the prevailing party in such
action or proceeding shall be reimbursed by the other party for its attorneys'
fees and other costs and expenses incurred with the investigation, preparation
and prosecution of such action or proceeding.

      5.10 Survival. The representations and warranties herein shall survive the
Closing and delivery of the Shares and Warrant Shares for two years from the
date hereof.

      5.11 Execution. This Agreement may be executed in two or more
counterparts, all of which when taken together shall be considered one and the
same agreement and shall become effective when counterparts have been signed by
each party and delivered to the other party, it being understood that both
parties need not sign the same counterpart. In the event that any signature is
delivered by facsimile transmission, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is
executed) with the same force and effect as if such facsimile signature page
were an original thereof.

      5.12 Severability. If any provision of this Agreement is held to be
invalid or unenforceable in any respect, the validity and enforceability of the
remaining terms and provisions of this Agreement shall not in any way be
affected or impaired thereby and the parties will attempt to agree upon a valid
and enforceable provision that is a reasonable substitute therefor, and upon so
agreeing, shall incorporate such substitute provision in this Agreement.

      5.13 Replacement of Securities. If any certificate or instrument
evidencing any Securities is mutilated, lost, stolen or destroyed, the Company
shall issue or cause to be issued in exchange and substitution for and upon
cancellation thereof, or in lieu of and substitution therefor, a new certificate
or instrument, but only upon receipt of evidence reasonably satisfactory to the
Company of such loss, theft or destruction and customary and reasonable
indemnity, if requested. The applicants for a new certificate or instrument
under such circumstances shall also pay any reasonable third-party costs
associated with the issuance of such replacement Securities.

      5.14 Remedies. In addition to being entitled to exercise all rights
provided herein or granted by law, including recovery of damages, each of the
Purchasers and the Company will be entitled to specific performance under the
Transaction Documents. The parties agree that monetary damages may not be
adequate compensation for any loss incurred by reason of any


                                       17
<PAGE>

breach of obligations described in the foregoing sentence and hereby agrees to
waive in any action for specific performance of any such obligation the defense
that a remedy at law would be adequate.

                            (Signature Pages Follows)


                                       18
<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caused this Securities
Purchase Agreement to be duly executed by their respective authorized
signatories as of the date first indicated above.

                                         MICROMED TECHNOLOGY, INC.


                                         By: /s/ Travis E. Baugh
                                            ------------------------------------
                                         Name: Travis E. Baugh
                                              ----------------------------------
                                         Title: President
                                               ---------------------------------


                                         Address for Notice
                                         ------------------

                                         MicroMed Technology, Inc.
                                         8965 Interchange Drive
                                         Houston, Texas 77054

with a copy to (which shall not constitute notice):

Thomas J. Poletti, Esq.
Kirkpatrick & Lockhart Nicholson Graham LLP
10100 Santa Monica Boulevard
Seventh Floor
Los Angeles, CA 90067



                   [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
                     SIGNATURE PAGES FOR PURCHASERS FOLLOW]


                                       19
<PAGE>

  [SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.


                                         SALMON EXPRESS INC.
                                         By: /s/ Pete Smith
                                            ------------------------------------
                                            Name: Pete Smith
                                            Title: President

                                             Email Address:
                                                           ---------------------

                                             Address for Notice:
                                             6604 Topay Drive
                                             Vernon, BC Canada, V1H 18



                   [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
                     SIGNATURE PAGES FOR PURCHASERS FOLLOW]


                                       20
<PAGE>

   [PURCHASER SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE
                                   AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.

                                       ABSOLUTE RETURN EUROPE FUND


                                       By: /s/ Florian Homm
                                          --------------------------------------
                                          Name: Florian Homm
                                          Title: Investment Advisor

                                          Email Address:
                                                        ------------------------

                                          Address for Notice of Investing Party:

                                          c/o Todd Ficeto
                                          Hunter World Markets, Inc.
                                          9300 Wilshire Blvd.
                                          Penthouse Suite
                                          Beverly Hills, CA 90212

With a copy to (which shall not constitute notice):

David L. Ficksman
Troy & Gould
1801 Century Park East, 16th Floor
Los Angeles, California 90067

Address for Delivery of Securities for Investing
Entity (if not same as above):



Subscription Amount: $2,000,000.00
Shares:              __________ shares of Common Stock
Warrant Shares:      [_______________]
EIN Number:          _______________________________


                           [SIGNATURE PAGES CONTINUE]


                                       21
<PAGE>

   [PURCHASER SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE
                                   AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.

                                       EUROPEAN CATALYST FUND

                                       By: /s/ Florian Homm
                                          --------------------------------------
                                          Name: Florian Homm
                                          Title: Investment Advisor

                                          Email Address:
                                                        ------------------------

                                          Address for Notice of Investing Party:
                                          c/o Todd Ficeto
                                          Hunter World Markets, Inc.
                                          9300 Wilshire Blvd.
                                          Penthouse Suite
                                          Beverly Hills, CA 90212

With a copy to (which shall not constitute notice):

David L. Ficksman
Troy & Gould
1801 Century Park East, 16th Floor
Los Angeles, California 90067

Address for Delivery of Securities for Investing
Entity (if not same as above):



Subscription Amount: $1,000,000.00____________
Shares:              __________ shares of Common Stock
Warrant Shares:      [_______________]
EIN Number:          ______________________________


                           [SIGNATURE PAGES CONTINUE]


                                       22
<PAGE>

   [PURCHASER SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE
                                   AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.

                                       ABSOLUTE OCTANE FUND


                                       By: /s/ Florian Homm
                                          --------------------------------------
                                          Name: Florian Homm
                                          Title: Investment Advisor

                                          Email Address:
                                                        ------------------------

                                          Address for Notice of Investing Party:
                                          c/o Todd Ficeto
                                          Hunter World Markets, Inc.
                                          9300 Wilshire Blvd.
                                          Penthouse Suite
                                          Beverly Hills, CA 90212

With a copy to (which shall not constitute notice):

David L. Ficksman
Troy & Gould
1801 Century Park East, 16th Floor
Los Angeles, California 90067

Address for Delivery of Securities for Investing
Entity (if not same as above):



Subscription Amount: $1,000,000.00____________
Shares:              __________ shares of Common Stock
Warrant Shares:      [_______________]
EIN Number:          _______________________________


                           [SIGNATURE PAGES CONTINUE]


                                       23
<PAGE>

   [PURCHASER SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE
                                   AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.


                                            ------------------------------------
Oxford Bioscience Partners II L.P.          NAME OF PURCHASER
By:  OBP Management II L.P.
                                            By:
By: /s/ Cornelius T. Ryan                      ---------------------------------
   -------------------------------             Name:
   General Partner                             Title:

                                               Email Address:
                                                             -------------------

                                               Address for Notice of Investing
                                               Party:
                                               222 Berkeley Street
                                               Suite 1650
                                               Boston, MA 02116

With a copy to (which shall not constitute notice):




Address for Delivery of Securities for Investing Entity (if not same as above):



Subscription Amount: $27,872.31
Shares:              20,957 shares of Common Stock
Warrant Shares:      [_12,574__]
EIN Number:


                           [SIGNATURE PAGES CONTINUE]


                                       24
<PAGE>

   [PURCHASER SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE
                                   AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.


                                            ------------------------------------
Oxford Bioscience Partners (Bermuda) II     NAME OF PURCHASER
Limited Partnership
By:  OBP Management II (Bermuda) Limited
Partnership
                                            By:
By: /s/ Cornelius T. Ryan                      ---------------------------------
   ------------------------------              Name:
   General Partner                             Title:

                                               Email Address: [illegible]
                                                             -------------------

                                               Address for Notice of Investing
                                               Party:
                                               222 Berkeley Street
                                               Suite 1650
                                               Boston, MA 02116

With a copy to (which shall not constitute notice):




Address for Delivery of Securities for Investing Entity (if not same as above):



Subscription Amount: $20,873.02
Shares:              15,694 shares of Common Stock
Warrant Shares:      [_9,416__]
EIN Number:          [illegible]


                           [SIGNATURE PAGES CONTINUE]


                                       25
<PAGE>

   [PURCHASER SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE
                                   AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.


                                            ------------------------------------
Oxford Bioscience Partners (Adjunct) II     NAME OF PURCHASER
L.P.
By:  OBP Management II L.P.
                                            By:
By: /s/ Cornelius T. Ryan                      ---------------------------------
   -----------------------------               Name:
   General Partner                             Title:

                                               Email Address:
                                                             -------------------

                                               Address for Notice of Investing
                                               Party:
                                               222 Berkeley Street
                                               Suite 1650
                                               Boston, MA 02116

With a copy to (which shall not constitute notice):




Address for Delivery of Securities for Investing Entity (if not same as above):



Subscription Amount: $7,550.41
Shares:              5,677 shares of Common Stock
Warrant Shares:      [_3,406__]
EIN Number:


                           [SIGNATURE PAGES CONTINUE]


                                       26
<PAGE>

   [PURCHASER SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE
                                   AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.


                                            ------------------------------------
Oxford Bioscience Partners (GS-Adjunct)     NAME OF PURCHASER
II L.P.
By: OBP Management II L.P.
                                            By:
By: /s/ Cornelius T. Ryan                      ---------------------------------
   ------------------------------              Name:
   General Partner                             Title:

                                               Email Address:
                                                             -------------------

                                               Address for Notice of Investing
                                               Party:
                                               222 Berkeley Street
                                               Suite 1650
                                               Boston, MA 02116

With a copy to (which shall not constitute notice):




Address for Delivery of Securities for Investing Entity (if not same as above):



Subscription Amount: $18,703.79
Shares:              14,063 shares of Common Stock
Warrant Shares:      [_8,438__]
EIN Number:


                           [SIGNATURE PAGES CONTINUE]


                                       27
<PAGE>

   [PURCHASER SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE
                                   AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.


                                       SCHRODER VENTURES INTERNATIONAL
                                       LIFE SCIENCES FUND LP1


                                       By:  /s/ Gary Carr      /s/ Douglas Mello
                                          --------------------------------------
                                          Name: Gary Carr      Douglas Mello
                                          Title: Director & Vice President of
                                          Schroder Venture Managers Inc., as
                                          General Partner

                                          Email Address:
                                                        ------------------------

                                          Address for Notice of Investing
                                          Party:
                                          c/o 22 Church Street
                                          Hamilton HM 11
                                          Bermuda

With a copy to (which shall not constitute notice):




Address for Delivery of Securities for Investing Entity (if not same as above):



Subscription Amount: $102,695.95
Shares:              77,215_ shares of Common Stock
Warrant Shares:      [_46,329__]
EIN Number:


                           [SIGNATURE PAGES CONTINUE]


                                       28
<PAGE>

   [PURCHASER SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE
                                   AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.


                                       SCHRODER VENTURES INTERNATIONAL
                                       LIFE SCIENCES FUND LP2


                                       By: /s/ Gary Carr       /s/ Douglas Mello
                                          --------------------------------------
                                          Name: Gary Carr      Douglas Mello

                                          Title: Director & Vice President of
                                          Schroder Venture Managers Inc., as
                                          General Partner


                                          Email Address:


                                          Address for Notice of Investing
                                          Party:
                                          c/o 22 Church Street
                                          Hamilton HM 11
                                          Bermuda

With a copy to (which shall not constitute notice):




Address for Delivery of Securities for Investing Entity (if not same as above):



Subscription Amount: $22,821.47
Shares:              17,159 shares of Common Stock
Warrant Shares:      [_10,295__]
EIN Number:


                           [SIGNATURE PAGES CONTINUE]


                                       29
<PAGE>

   [PURCHASER SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE
                                   AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.


                                      SCHRODER VENTURES INTERNATIONAL
                                      LIFE SCIENCES FUND TRUST


                                      By: /s/ Gary Carr        /s/ Douglas Mello
                                         ---------------------------------------
                                         Name: Gary Carr       Douglas Mello
                                         Title: Director of Schroder Venture
                                         Managers Limited as Attorney-in-Fact
                                         for Codan Trust Company Limited as
                                         Trustee

                                         Email Address:
                                                       -------------------------

                                         Address for Notice of Investing
                                         Party:
                                         c/o 22 Church Street
                                         Hamilton HM 11
                                         Bermuda

With a copy to (which shall not constitute notice):




Address for Delivery of Securities for Investing Entity (if not same as above):



Subscription Amount: $36,149.40
Shares:              27,180_ shares of Common Stock
Warrant Shares:      [_16,308__]
EIN Number:


                           [SIGNATURE PAGES CONTINUE]


                                       30
<PAGE>

   [PURCHASER SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE
                                   AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.


                                       SCHRODER VENTURES INTERNATIONAL
                                       LIFE SCIENCES FUND CO-INVESTMENT
                                       SCHEME


                                       By: /s/ Gary Carr       /s/ Douglas Mello
                                          --------------------------------------
                                          Name: Gary Carr     Douglas Mello
                                          Title: Director of Schroder Venture
                                          Managers Limited as InvestmentManager

                                          Email Address:
                                                        ------------------------

                                          Address for Notice of Investing
                                          Party:
                                          c/o 22 Church Street
                                          Hamilton HM 11
                                          Bermuda

With a copy to (which shall not constitute notice):




Address for Delivery of Securities for Investing Entity (if not same as above):



Subscription Amount: $812.63
Shares:              611 shares of Common Stock
Warrant Shares:      [_367__]
EIN Number:


                           [SIGNATURE PAGES CONTINUE]


                                       31
<PAGE>

   [PURCHASER SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE
                                   AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.


                                       MITSUI & CO. VENTURE PARTNERS II, L.P.
                                       BY: MITSUI & CO. VENTURE PARTNERS, INC.,
                                       ITS GENERAL PARTNER


                                       By: /s/ Koichi Ando
                                          --------------------------------------
                                          Name: Koichi Ando
                                          Title: President and CEO

                                          Email Address:
                                                        ------------------------

                                          Address for Notice of Investing
                                          Party:
                                          200 Park Avenue, New York, NY 10166

With a copy to (which shall not constitute notice):




Address for Delivery of Securities for Investing Entity (if not same as above):



Subscription Amount: $100,000
Shares:              75,188 shares of Common Stock
Warrant Shares:      [_45,113__]
EIN Number:


                           [SIGNATURE PAGES CONTINUE]


                                       32
<PAGE>

   [PURCHASER SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE
                                   AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.


                                       HARVARD CUSTOM MANUFACTURING, LLC


                                       By: /s/ Cheri Lieberman
                                          --------------------------------------
                                          Name: Cheri Lieberman
                                          Title: Asst. Secretary

                                          Email Address:
                                                        ------------------------

                                          Address for Notice of Investing
                                          Party:
                                          c/o Charterhouse Group, Inc.
                                          535 Madison Ave.
                                          New York, NY 10022
                                          Attn: Cheri Lieberman

With a copy to (which shall not constitute notice):




Address for Delivery of Securities for Investing Entity (if not same as above):



Subscription Amount: $377,101.74
Shares:              208,535 shares of Common Stock
Warrant Shares:      [_170,121__]
EIN Number:


                           [SIGNATURE PAGES CONTINUE]


                                       33
<PAGE>

   [PURCHASER SIGNATURE PAGES TO MICROMED TECHNOLOGY, INC. SECURITIES PURCHASE
                                   AGREEMENT]

      IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase
Agreement to be duly executed by their respective authorized signatories as of
the date first indicated above.

                                            Essex Woodlands Health Ventures
                                            Fund IV L.P.

                                            By: /s/ Martin P. Sutter
                                               ---------------------------------
                                               Name: Martin P. Sutter
                                               Title: Managing Director

                                               Email Address:
                                                             -------------------

                                               Address for Notice of Investing
                                               Party:

With a copy to (which shall not constitute notice):




Address for Delivery of Securities for Investing Entity (if not same as above):



Subscription Amount: $277,101.79
Shares:              208,347_ shares of Common Stock
Warrant Shares:      [_125,008__]
EIN Number:


                           [SIGNATURE PAGES CONTINUE]


                                       34
<PAGE>

                                     ANNEX A

                                CLOSING STATEMENT
                                -----------------








                                       35


<PAGE>

<PAGE>

                             Schedule of Purchasers

<TABLE>
<CAPTION>
                                                    Share      Warrant
Purchaser's Name                                   Amount      Amount      Purchase Amount
-----------------------------------------------   ---------   ---------    ---------------
<S>                                               <C>         <C>          <C>
Absolute Return Europe Fund                       1,503,759     902,255*   $     2,000,000
European Catalyst Fund                              751,880     451,128*   $     1,000,000
Absolute Octane Fund                                751,880     451,128*   $     1,000,000
Oxford Bioscience Partners II L.P.                   20,957      12,574    $     27,872.81
Oxford Bioscience Partners (Bermuda) II
Limited Partnership                                  15,694       9,416    $     20,873.02
Oxford Bioscience Partners (GS-Adjunct) II L.P.      14,063       8,438    $     18,703.79
Oxford Bioscience Partners (Adjunct) II L.P.          5,677       3,406    $      7,550.41
Schroder Ventures International Life
Sciences Fund LP1                                    77,215      46,329    $    102,695.95
Schroder Ventures International Life
Sciences Fund LP2                                    17,159      10,295    $     22,821.47
Schroder Ventures International Life
Sciences Fund Trust                                  27,180      16,308    $     36,149.40
Schroder Ventures International Life
Sciences Fund Co-Investment Scheme                      611         367    $        812.63
Harvard Custom Manufacturing, LLC                   283,535     170,121    $    377,101.74
Essex Woodlands Health Ventures Fund IV
L.P.                                                208,347     125,008    $    277,101.73
Mitsui & Co. Venture Partners                        75,188      45,113    $    100,000.00
-----------------------------------------------   ---------   ---------    ---------------
                                         TOTAL:   3,753,145   2,251,886    $  4,991,682.95
</TABLE>


* Each such Purchaser by its execution of this Agreement acknowledges and agrees
that such Warrants are assigned to and shall be issued in the name of Hunter
World Markets, Inc.