Document:

Exhibit 4.2

                          REGISTRATION RIGHTS AGREEMENT

      This Registration Rights Agreement (this "Agreement") is made and entered
into as of August 9, 2005, by and among Salmon Express, Inc., a Nevada
corporation to be reincorporated into Delaware on the closing of the Reverse
Merger under the name MicroMed Cardiovascular, Inc. (the "Company"), on the one
hand and the purchasers signatory hereto (each such purchaser, a "Purchaser" and
collectively, the "Purchasers") and Hunter World Markets, Inc., on the other
hand.

      This Agreement is made pursuant to the Securities Purchase Agreement,
dated as of the date hereof among the Company MicroMed Technology, Inc.
("MicroMed") and the Purchasers (the "Purchase Agreement") and the Placement
Agency Agreement between MicroMed, the Company and Hunter World Markets, Inc.
(the "Agency Agreement").

      The Company, Hunter and the Purchasers hereby agree as follows:

      1. Definitions. Capitalized terms used and not otherwise defined herein
that are defined in the Purchase Agreement shall have the meanings given such
terms in the Purchase Agreement or the Agency Agreement. As used in this
Agreement, the following terms shall have the following meanings:

      "Advice" shall have the meaning set forth in Section 6(e).

      "Closing" means the closing of the transactions contemplated by the
Purchase Agreement.

      "Effectiveness Date" means, with respect to the Registration Statement
required to be filed hereunder, the earlier of (a) the 120th calendar day
following the date of the Closing, and (b) the fifth Trading Day following the
date on which the Company is notified by the Commission that the Registration
Statement will not be reviewed or is no longer subject to further review and
comments.

      "Effectiveness Period" shall have the meaning set forth in Section 2(a).

      "Event" shall have the meaning set forth in Section 2(b).

      "Event Date" shall have the meaning set forth in Section 2(b).

      "Filing Date" means, with respect to the Registration Statement required
to be filed hereunder, the 30th calendar day following the date of the date of
the Closing.

      "Holder" or "Holders" means the holder or holders, as the case may be,
from time to time, of Registrable Securities.

      "Indemnified Party" shall have the meaning set forth in Section 5(c).

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      "Indemnifying Party" shall have the meaning set forth in Section 5(c).

      "Losses" shall have the meaning set forth in Section 5(a).

      "Outside Date" means the earlier of (a) 180 days following the date of the
Closing and (b) the fifth trading day following the date on which the Company is
notified by the Commission that the Registration Statement will not be reviewed
or is no longer subject to further review and comments.

      "Plan of Distribution" shall have the meaning set forth in Section 2(a).

      "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.

      "Prospectus" means the prospectus included in the Registration Statement
(including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration
statement in reliance upon Rule 430A promulgated under the Securities Act), as
amended or supplemented by any prospectus supplement, with respect to the terms
of the offering of any portion of the Registrable Securities covered by the
Registration Statement, and all other amendments and supplements to the
Prospectus, including post-effective amendments, and all material incorporated
by reference or deemed to be incorporated by reference in such Prospectus.

      "Registrable Securities" means, as to this Agreement only, (a) all of the
Shares, (b) the Warrant Shares, (c) the shares of Company Common Stock issuable
pursuant to the Placement Agent Agreement, (d) the Agent Shares, and (e) any
shares acquired by Hunter further to the Amended and Restated Purchase and
Escrow Agreement together with any shares of Common Stock issued or issuable
upon any stock split, dividend or other distribution, recapitalization or
similar event with respect to the foregoing.

      "Registration Statement" means the registration statements required to be
filed hereunder, including (in each case) the Prospectus, amendments and
supplements to the registration statement or Prospectus, including pre- and
post-effective amendments, all exhibits thereto, and all material incorporated
by reference or deemed to be incorporated by reference in the registration
statement.

      "Rule 415" means Rule 415 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 purpose and effect as such Rule.

      "Rule 424" means Rule 424 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 purpose and effect as such Rule.

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      "Selling Shareholder Questionnaire" shall have the meaning set forth in
Section 3(a).

      2. Registration.

      (a) On or prior to the Filing Date, the Company shall prepare and file
with the Commission the Registration Statement covering the resale of all of the
Registrable Securities for an offering to be made on a continuous basis pursuant
to Rule 415. The Registration Statement required hereunder shall be on Form SB-2
(except if the Company is not then eligible to register for resale the
Registrable Securities on Form SB-2, in which case the Registration shall be on
another appropriate form in accordance herewith). The Registration Statement
required hereunder shall contain (except if otherwise directed by the Holders)
substantially the "Plan of Distribution" attached hereto as Annex A. Subject to
the terms of this Agreement, the Company shall use its best efforts to cause the
Registration Statement to be declared effective under the Securities Act as
promptly as possible after the filing thereof, but in any event not later than
the Effectiveness Date, and shall use its best efforts to keep the Registration
Statement continuously effective under the Securities Act until the date when
all Registrable Securities covered by the Registration Statement have been sold
or may be sold without volume restrictions pursuant to Rule 144(k) as determined
by the counsel to the Company pursuant to a written opinion letter to such
effect, addressed and acceptable to the Company's transfer agent and the
affected Holders (the "Effectiveness Period").

      (b) If: (i) a Registration Statement is not filed on or prior to the
Filing Date (if the Company files a Registration Statement without affording the
Holder the opportunity to review and comment on the same as required by Section
3(a), the Company shall not be deemed to have satisfied this clause (i)), or
(ii) the Company fails to file with the Commission a request for acceleration in
accordance with Rule 461 promulgated under the Securities Act, within five
Trading Days of the date that the Company is notified (orally or in writing,
whichever is earlier) by the Commission that a Registration Statement will not
be "reviewed," or is not subject to further review, or (iii) a Registration
Statement filed or required to be filed hereunder is not declared effective by
the Commission on or before the Outside Date, or (iv) after a Registration
Statement is first declared effective by the Commission, it ceases for any
reason to remain continuously effective as to all Registrable Securities for
which it is required to be effective, or the Holders are not permitted to
utilize the Prospectus therein to resell such Registrable Securities, for in any
such case 10 consecutive calendar days but no more than an aggregate of 15
calendar days during any 12 month period (which need not be consecutive Trading
Days) (any such failure or breach being referred to as an "Event," and for
purposes of clause (i) or (iv) the date on which such Event occurs, or for
purposes of clause (ii) the date on which such five Trading Day period is
exceeded, or for purposes of clause (v) the date on which such 10 or 15 calendar
day period, as applicable, is exceeded being referred to as "Event Date"), then
in addition to any other rights the Holders may have hereunder or under
applicable law, then, on each such Event Date and on each monthly anniversary of
each such Event Date (if the applicable Event shall not have been cured by such
date) until the applicable Event is cured, the Company shall pay to each Holder
an amount in cash, as liquidated damages and not as a penalty, equal to 1.5% of
the aggregate purchase price paid by such Holder pursuant to the Purchase
Agreement for any Registrable Securities then held by such Holder up to a
maximum of 20% of the aggregate purchase price paid by such Holder. If the
Company fails to pay any liquidated damages pursuant to this Section in full
within seven days after the date payable, the Company will pay interest thereon
at a rate of 12% per annum (or such lesser maximum amount that is permitted to
be paid by applicable law) to the Holder, accruing daily from the date such
partial liquidated damages are due until such amounts, plus all such interest
thereon, are paid in full. The liquidated damages pursuant to the terms hereof
shall apply on a daily pro-rata basis for any portion of a month prior to the
cure of an Event. Notwithstanding anything herein to the contrary, if an Event
or the continuation of an Event is caused solely as a result of an act or
omission by a Holder, the Company shall not be liable to pay liquidated damages
to such Holder that otherwise would result on account of such Event or
continuation of an Event.

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      3. Registration Procedures.

      In connection with the Company's registration obligations hereunder, the
Company shall:

      (a) Not less than five Trading Days prior to the filing of the
Registration Statement or any related Prospectus or any amendment or supplement
thereto, the Company shall, (i) furnish to the Holders copies of any disclosure
relating to the Holders, including but not limited to the entire Selling
Stockholder and Plan of Distribution sections which sections shall be subject to
the review of such Holders, and (ii) cause its officers and directors, counsel
and independent certified public accountants to respond to such inquiries as
shall be necessary, in the reasonable opinion of respective counsel to conduct a
reasonable investigation within the meaning of the Securities Act. The Company
shall not file the Registration Statement or any such Prospectus or any
amendments or supplements thereto to which the Holders of a majority of the
Registrable Securities shall reasonably object in good faith, provided that the
Company is notified of such objection in writing no later than two Trading Days
after the Holders have been so furnished copies of such documents. Prior to any
filing relating to the Registration Statement, each Holder agrees to furnish to
the Company a completed Questionnaire in the form attached to this Agreement as
Annex B (a "Selling Shareholder Questionnaire") within five Trading Days of
written request by the Company.

      (b) (i) Prepare and file with the Commission such amendments, including
post-effective amendments, to the Registration Statement and the Prospectus used
in connection therewith as may be necessary to keep the Registration Statement
continuously effective as to the applicable Registrable Securities for the
Effectiveness Period and prepare and file with the Commission such additional
Registration Statements in order to register for resale under the Securities Act
all of the Registrable Securities; (ii) cause the related Prospectus to be
amended or supplemented by any required Prospectus supplement, and as so
supplemented or amended to be filed pursuant to Rule 424; (iii) respond as
promptly as reasonably practicable to any comments received from the Commission
with respect to the Registration Statement or any amendment thereto and, as
promptly as reasonably practicable, upon request, provide the Holders upon
request true and complete copies of all correspondence from and to the
Commission relating to the Registration Statement; and (iv) comply in all
material respects with the provisions of the Securities Act and the Exchange Act
with respect to the disposition of all Registrable Securities covered by the
Registration Statement during the applicable period in accordance with the
intended methods of disposition by the Holders thereof set forth in the
Registration Statement as so amended or in such Prospectus as so supplemented.

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<PAGE>

      (c) Notify the Holders of Registrable Securities to be sold as promptly as
reasonably practicable and (if requested by any such Person) confirm such notice
in writing promptly following the day (i)(A) when a Prospectus or any Prospectus
supplement or post-effective amendment to the Registration Statement is proposed
to be filed; (B) when the Commission notifies the Company whether there will be
a "review" of the Registration Statement and whenever the Commission comments in
writing on the Registration Statement (the Company shall upon request provide
true and complete copies thereof and all written responses thereto to each of
the Holders); and (C) with respect to the Registration Statement or any
post-effective amendment, when the same has become effective; (ii) of any
request by the Commission or any other Federal or state governmental authority
during the period of effectiveness of the Registration Statement for amendments
or supplements to the Registration Statement or Prospectus or for additional
information; (iii) of the issuance by the Commission or any other federal or
state governmental authority of any stop order suspending the effectiveness of
the Registration Statement covering any or all of the Registrable Securities or
the initiation of any Proceedings for that purpose; (iv) of the receipt by the
Company of any notification with respect to the suspension of the qualification
or exemption from qualification of any of the Registrable Securities for sale in
any jurisdiction, or the initiation or threatening of any Proceeding for such
purpose; and (v) of the occurrence of any event or passage of time that makes
the financial statements included in the Registration Statement ineligible for
inclusion therein or any statement made in the Registration Statement or
Prospectus or any document incorporated or deemed to be incorporated therein by
reference untrue in any material respect or that requires any revisions to the
Registration Statement, Prospectus or other documents so that, in the case of
the Registration Statement or the Prospectus, as the case may be, it will not
contain any untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading.

      (d) Use commercially reasonable efforts to avoid the issuance of, or, if
issued, obtain the withdrawal of (i) any order suspending the effectiveness of
the Registration Statement, or (ii) any suspension of the qualification (or
exemption from qualification) of any of the Registrable Securities for sale in
any jurisdiction, at the earliest practicable moment.

      (e) Furnish to each Holder, without charge and upon request, at least one
conformed copy of the Registration Statement and each amendment thereto,
including financial statements and schedules, all documents incorporated or
deemed to be incorporated therein by reference to the extent requested by such
Person, and all exhibits to the extent requested by such Person (including those
previously furnished or incorporated by reference) promptly after the filing of
such documents with the Commission.

      (f) Promptly deliver to each Holder, without charge and upon request, as
many copies of the Prospectus or Prospectuses (including each form of
prospectus) and each amendment or supplement thereto as such Persons may
reasonably request in connection with resales by the Holder of Registrable
Securities. Subject to the terms of this Agreement, the Company hereby consents
to the use of such Prospectus and each amendment or supplement thereto by each
of the selling Holders in connection with the offering and sale of the
Registrable Securities covered by such Prospectus and any amendment or
supplement thereto, except after the giving on any notice pursuant to Section
3(c).

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<PAGE>

      (g) Prior to any resale of Registrable Securities by a Holder, use its
commercially reasonable efforts to register or qualify or cooperate with the
selling Holders in connection with the registration or qualification (or
exemption from the Registration or qualification) of such Registrable Securities
for the resale by the Holder under the securities or Blue Sky laws of such
jurisdictions within the United States as any Holder reasonably requests in
writing, to keep the Registration or qualification (or exemption therefrom)
effective during the Effectiveness Period and to do any and all other acts or
things reasonably necessary to enable the disposition in such jurisdictions of
the Registrable Securities covered by the Registration Statement; provided, that
the Company shall not be required to qualify generally to do business in any
jurisdiction where it is not then so qualified, subject the Company to any tax
in any such jurisdiction where it is not then so subject or file a general
consent to service of process in any such jurisdiction.

      (h) If requested by the Holders, cooperate with the Holders to facilitate
the timely preparation and delivery of certificates representing Registrable
Securities to be delivered to a transferee pursuant to the Registration
Statement, which certificates shall be free, to the extent permitted by the
Purchase Agreement, of all restrictive legends, and to enable such Registrable
Securities to be in such denominations and registered in such names as any such
Holders may request.

      (i) Upon the occurrence of any event contemplated by Section 3(c)(v), as
promptly as reasonably possible, prepare a supplement or amendment, including a
post-effective amendment, to the Registration Statement or a supplement to the
related Prospectus or any document incorporated or deemed to be incorporated
therein by reference, and file any other required document so that, as
thereafter delivered, neither the Registration Statement nor such Prospectus
will contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading. If the
Company notifies the Holders in accordance with clauses (ii) through (v) of
Section 3(c) above to suspend the use of any Prospectus until the requisite
changes to such Prospectus have been made, then the Holders shall suspend use of
such Prospectus. The Company will use its best efforts to ensure that the use of
the Prospectus may be resumed as promptly as is practicable. The Company shall
be entitled to exercise its right under this Section 3(i) to suspend the
availability of a Registration Statement and Prospectus, subject to the payment
of partial liquidated damages pursuant to Section 2(b), for a period not to
exceed 60 days (which need not be consecutive days) in any 12 month period.

      (j) Comply with all applicable rules and regulations of the Commission.

      (k) The Company may require each selling Holder to furnish to the Company
a certified statement as to the number of shares of Common Stock beneficially
owned by such Holder and, if required by the Commission, the person thereof that
has voting and dispositive control over the Shares. During any periods that the
Company is unable to meet its obligations hereunder with respect to the
registration of the Registrable Securities solely because any Holder fails to
furnish such information within three Trading Days of the Company's request, any
liquidated damages that are accruing at such time as to such Holder only shall
be tolled and any Event that may otherwise occur solely because of such delay
shall be suspended as to such Holder only, until such information is delivered
to the Company.

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      4. Registration Expenses. All fees and expenses incident to the
performance of or compliance with this Agreement by the Company shall be borne
by the Company whether or not any Registrable Securities are sold pursuant to
the Registration Statement. The fees and expenses referred to in the foregoing
sentence shall include, without limitation, (i) all registration and filing fees
(including, without limitation, fees and expenses with respect to filings
required to be made with the Trading Market on which the Common Stock is then
listed for trading, (ii) printing expenses (including, without limitation,
expenses of printing certificates for Registrable Securities and of printing
prospectuses if the printing of prospectuses is reasonably requested by the
holders of a majority of the Registrable Securities included in the Registration
Statement), (iii) messenger, telephone and delivery expenses, (iv) fees and
disbursements of counsel for the Company, (v) Securities Act liability
insurance, if the Company so desires such insurance, and (vi) fees and expenses
of all other Persons retained by the Company in connection with the consummation
of the transactions contemplated by this Agreement. In addition, the Company
shall be responsible for all of its internal expenses incurred in connection
with the consummation of the transactions contemplated by this Agreement
(including, without limitation, all salaries and expenses of its officers and
employees performing legal or accounting duties), the expense of any annual
audit and the fees and expenses incurred in connection with the listing of the
Registrable Securities on any securities exchange as required hereunder. In no
event shall the Company be responsible for any broker or similar commissions or,
except to the extent provided for in the Transaction Documents, any legal fees
or other costs of the Holders.

      5. Indemnification.

      (a) Indemnification by the Company. The Company shall, notwithstanding any
termination of this Agreement, indemnify and hold harmless each Holder, the
officers, directors, agents and employees of each of them, each Person who
controls any such Holder (within the meaning of Section 15 of the Securities Act
or Section 20 of the Exchange Act) and the officers, directors, agents and
employees of each such controlling Person, to the fullest extent permitted by
applicable law, from and against any and all losses, claims, damages,
liabilities, costs (including, without limitation, reasonable attorneys' fees)
and expenses (collectively, "Losses"), as incurred, arising out of or relating
to any untrue or alleged untrue statement of a material fact contained in the
Registration Statement, any Prospectus or any form of prospectus or in any
amendment or supplement thereto or in any preliminary prospectus, or arising out
of or relating to any omission or alleged omission of a material fact required
to be stated therein or necessary to make the statements therein (in the case of
any Prospectus or form of prospectus or supplement thereto, in light of the
circumstances under which they were made) not misleading, except to the extent,
but only to the extent, that (i) such untrue statements or omissions are based
solely upon information regarding such Holder furnished in writing to the
Company by such Holder expressly for use therein, or to the extent that such
information relates to such Holder or such Holder's proposed method of
distribution of Registrable Securities and was reviewed and expressly approved
in writing by such Holder expressly for use in the Registration Statement, such
Prospectus or such form of Prospectus or in any amendment or supplement thereto
(it being understood that the Holder has approved Annex A hereto for this
purpose) or (ii) in the case of an occurrence of an event of the type specified
in Section 3(c)(ii)-(v), the use by such Holder of an outdated or defective
Prospectus after the Company has notified such Holder in writing that the
Prospectus is outdated or defective and prior to the receipt by such Holder of
the Advice contemplated in Section 6(e). The Company shall notify the Holders
promptly of the institution, threat or assertion of any Proceeding of which the
Company is aware in connection with the transactions contemplated by this
Agreement.

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      (b) Indemnification by Holders. Each Holder shall, severally and not
jointly, indemnify and hold harmless the Company, its directors, officers,
agents and employees, each Person who controls the Company (within the meaning
of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the
directors, officers, agents or employees of such controlling Persons, to the
fullest extent permitted by applicable law, from and against all Losses, as
incurred, to the extent arising out of or based solely upon: (x) such Holder's
failure to comply with the prospectus delivery requirements of the Securities
Act or (y) any untrue or alleged untrue statement of a material fact contained
in any Registration Statement, any Prospectus, or any form of prospectus, or in
any amendment or supplement thereto or in any preliminary prospectus, or arising
out of or relating to any omission or alleged omission of a material fact
required to be stated therein or necessary to make the statements therein not
misleading (i) to the extent, but only to the extent, that such untrue statement
or omission is contained in any information so furnished in writing by such
Holder to the Company specifically for inclusion in the Registration Statement
or such Prospectus or (ii) to the extent that (1) such untrue statements or
omissions are based solely upon information regarding such Holder furnished in
writing to the Company by such Holder expressly for use therein, or to the
extent that such information relates to such Holder or such Holder's proposed
method of distribution of Registrable Securities and was reviewed and expressly
approved in writing by such Holder expressly for use in the Registration
Statement (it being understood that the Holder has approved Annex A hereto for
this purpose), such Prospectus or such form of Prospectus or in any amendment or
supplement thereto or (2) in the case of an occurrence of an event of the type
specified in Section 3(c)(ii)-(v), the use by such Holder of an outdated or
defective Prospectus after the Company has notified such Holder in writing that
the Prospectus is outdated or defective and prior to the receipt by such Holder
of the Advice contemplated in Section 6(e). In no event shall the liability of
any selling Holder hereunder be greater in amount than the dollar amount of the
net proceeds received by such Holder upon the sale of the Registrable Securities
giving rise to such indemnification obligation.

      (c) Conduct of Indemnification Proceedings. If any Proceeding shall be
brought or asserted against any Person entitled to indemnity hereunder (an
"Indemnified Party"), such Indemnified Party shall promptly notify the Person
from whom indemnity is sought (the "Indemnifying Party") in writing, and the
Indemnifying Party shall have the right to assume the defense thereof, including
the employment of counsel reasonably satisfactory to the Indemnified Party and
the payment of all fees and expenses incurred in connection with defense
thereof; provided, that the failure of any Indemnified Party to give such notice
shall not relieve the Indemnifying Party of its obligations or liabilities
pursuant to this Agreement, except (and only) to the extent that it shall be
finally determined by a court of competent jurisdiction (which determination is
not subject to appeal or further review) that such failure shall have prejudiced
the Indemnifying Party.

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      An Indemnified Party shall have the right to employ separate counsel in
any such Proceeding and to participate in the defense thereof, but the fees and
expenses of such counsel shall be at the expense of such Indemnified Party or
Parties unless: (1) the Indemnifying Party has agreed in writing to pay such
fees and expenses; (2) the Indemnifying Party shall have failed promptly to
assume the defense of such Proceeding and to employ counsel reasonably
satisfactory to such Indemnified Party in any such Proceeding; or (3) the named
parties to any such Proceeding (including any impleaded parties) include both
such Indemnified Party and the Indemnifying Party, and such Indemnified Party
shall reasonably believe that a material conflict of interest is likely to exist
if the same counsel were to represent such Indemnified Party and the
Indemnifying Party (in which case, if such Indemnified Party notifies the
Indemnifying Party in writing that it elects to employ separate counsel at the
expense of the Indemnifying Party, the Indemnifying Party shall not have the
right to assume the defense thereof and the reasonable fees and expenses of one
separate counsel shall be at the expense of the Indemnifying Party). The
Indemnifying Party shall not be liable for any settlement of any such Proceeding
effected without its written consent, which consent shall not be unreasonably
withheld. No Indemnifying Party shall, without the prior written consent of the
Indemnified Party, effect any settlement of any pending Proceeding in respect of
which any Indemnified Party is a party, unless such settlement includes an
unconditional release of such Indemnified Party from all liability on claims
that are the subject matter of such Proceeding.

      Subject to the terms of this Agreement, all reasonable fees and expenses
of the Indemnified Party (including reasonable fees and expenses to the extent
incurred in connection with investigating or preparing to defend such Proceeding
in a manner not inconsistent with this Section) shall be paid to the Indemnified
Party, as incurred, within ten Trading Days of written notice thereof to the
Indemnifying Party; provided, that the Indemnified Party shall promptly
reimburse the Indemnifying Party for that portion of such fees and expenses
applicable to such actions for which such Indemnified Party is not entitled to
indemnification hereunder, determined based upon the relative faults of the
parties.

      (d) Contribution. If a claim for indemnification under Section 5(a) or
5(b) is unavailable to an Indemnified Party (by reason of public policy or
otherwise), then each Indemnifying Party, in lieu of indemnifying such
Indemnified Party, shall contribute to the amount paid or payable by such
Indemnified Party as a result of such Losses, in such proportion as is
appropriate to reflect the relative fault of the Indemnifying Party and
Indemnified Party in connection with the actions, statements or omissions that
resulted in such Losses as well as any other relevant equitable considerations.
The relative fault of such Indemnifying Party and Indemnified Party shall be
determined by reference to, among other things, whether any action in question,
including any untrue or alleged untrue statement of a material fact or omission
or alleged omission of a material fact, has been taken or made by, or relates to
information supplied by, such Indemnifying Party or Indemnified Party, and the
parties' relative intent, knowledge, access to information and opportunity to
correct or prevent such action, statement or omission. The amount paid or
payable by a party as a result of any Losses shall be deemed to include, subject
to the limitations set forth in this Agreement, any reasonable attorneys' or
other reasonable fees or expenses incurred by such party in connection with any
Proceeding to the extent such party would have been indemnified for such fees or
expenses if the indemnification provided for in this Section was available to
such party in accordance with its terms.

      The parties hereto agree that it would not be just and equitable if
contribution pursuant to this Section 5(d) were determined by pro rata
allocation or by any other method of allocation that does not take into account
the equitable considerations referred to in the immediately preceding paragraph.
Notwithstanding the provisions of this Section 5(d), no Holder shall be required
to contribute, in the aggregate, any amount in excess of the amount by which the
proceeds actually received by such Holder from the sale of the Registrable
Securities subject to the Proceeding exceeds the amount of any damages that such
Holder has otherwise been required to pay by reason of such untrue or alleged
untrue statement or omission or alleged omission, except in the case of fraud by
such Holder.

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      The indemnity and contribution agreements contained in this Section are in
addition to any liability that the Indemnifying Parties may have to the
Indemnified Parties.

      6. Miscellaneous.

      (a) Remedies. In the event of a breach by the Company or by a Holder, of
any of their obligations under this Agreement, each Holder or the Company, as
the case may be, in addition to being entitled to exercise all rights granted by
law and under this Agreement, including recovery of damages, will be entitled to
specific performance of its rights under this Agreement. The Company and each
Holder agree that monetary damages would not provide adequate compensation for
any losses incurred by reason of a breach by it of any of the provisions of this
Agreement and hereby further agrees that, in the event of any action for
specific performance in respect of such breach, it shall waive the defense that
a remedy at law would be adequate.

      (b) No Piggyback on Registrations. Except as set forth on Schedule 6(c)
attached hereto, neither the Company nor any of its security holders (other than
the Holders in such capacity pursuant hereto) may include securities of the
Company in a Registration Statement other than the Registrable Securities. The
Company shall not file any other registration statement until after the
Effective Date (other than registration statements on Form S-8 or Form S-4).

      (c) Compliance. Each Holder covenants and agrees that it will comply with
the prospectus delivery requirements of the Securities Act as applicable to it
in connection with sales of Registrable Securities pursuant to the Registration
Statement.

      (d) Discontinued Disposition. Each Holder agrees by its acquisition of
such Registrable Securities that, upon receipt of a notice from the Company of
the occurrence of any event of the kind described in Section 3(c), such Holder
will forthwith discontinue disposition of such Registrable Securities under the
Registration Statement until such Holder's receipt of the copies of the
supplemented Prospectus and/or amended Registration Statement or until it is
advised in writing (the "Advice") by the Company that the use of the applicable
Prospectus may be resumed, and, in either case, has received copies of any
additional or supplemental filings that are incorporated or deemed to be
incorporated by reference in such Prospectus or Registration Statement. The
Company will use its best efforts to ensure that the use of the Prospectus may
be resumed as promptly as it practicable. The Company agrees and acknowledges
that any periods during which the Holder is required to discontinue the
disposition of the Registrable Securities hereunder shall be subject to the
provisions of Section 2(b).

                                       10
<PAGE>

      (e) Piggy-Back Registrations. If at any time during the Effectiveness
Period there is not an effective Registration Statement covering all of the
Registrable Securities and the Company shall determine to prepare and file with
the Commission a registration statement relating to an offering for its own
account under the Securities Act of any of its equity securities, other than on
Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their
then equivalents relating to equity securities to be issued solely in connection
with any acquisition of any entity or business or equity securities issuable in
connection with the stock option or other employee benefit plans, then the
Company shall send to each Holder a written notice of such determination and, if
within fifteen days after the date of such notice, any such Holder shall so
request in writing, the Company shall include in such registration statement all
or any part of such Registrable Securities such Holder requests to be
registered, subject to customary underwriter cutbacks applicable to all holders
of registration rights.

      (f) Amendments and Waivers. The provisions of this Agreement, including
the provisions of this sentence, may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof may not be
given, unless the same shall be in writing and signed by the Company and Holders
of at least 66% of the then outstanding Registrable Securities.

      (g) Notices. Any and all notices or other communications or deliveries
required or permitted to be provided hereunder shall be made in accordance with
the provisions of the Purchase Agreement.

      (h) Successors and Assigns. This Agreement shall inure to the benefit of
and be binding upon the successors and permitted assigns of each of the parties
and shall inure to the benefit of each Holder. Each Holder may assign their
respective rights hereunder in the manner and to the Persons as permitted under
the Purchase Agreement.

      (i) Execution and Counterparts. This Agreement may be executed in any
number of counterparts, each of which when so executed shall be deemed to be an
original and, all of which taken together shall constitute one and the same
Agreement. In the event that any signature is delivered by facsimile
transmission, such signature shall create a valid binding obligation of the
party executing (or on whose behalf such signature is executed) the same with
the same force and effect as if such facsimile signature were the original
thereof.

      (j) Governing Law. All questions concerning the construction, validity,
enforcement and interpretation of this Agreement shall be determined with the
provisions of the Purchase Agreement.

      (k) Cumulative Remedies. The remedies provided herein are cumulative and
not exclusive of any remedies provided by law.

      (l) Severability. If any term, provision, covenant or restriction of this
Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and
restrictions set forth herein shall remain in full force and effect and shall in
no way be affected, impaired or invalidated, and the parties hereto shall use
their commercially reasonable efforts to find and employ an alternative means to
achieve the same or substantially the same result as that contemplated by such
term, provision, covenant or restriction. It is hereby stipulated and declared
to be the intention of the parties that they would have executed the remaining
terms, provisions, covenants and restrictions without including any of such that
may be hereafter declared invalid, illegal, void or unenforceable.

                                       11
<PAGE>

      (m) Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

      (n) Independent Nature of Holders' Obligations and Rights. The obligations
of each Holder hereunder are several and not joint with the obligations of any
other Holder hereunder, and no Holder shall be responsible in any way for the
performance of the obligations of any other Holder hereunder. Nothing contained
herein or in any other agreement or document delivered at any closing, and no
action taken by any Holder pursuant hereto or thereto, shall be deemed to
constitute the Holders as a partnership, an association, a joint venture or any
other kind of entity, or create a presumption that the Holders are in any way
acting in concert with respect to such obligations or the transactions
contemplated by this Agreement. Each Holder shall be entitled to protect and
enforce its rights, including without limitation the rights arising out of this
Agreement, and it shall not be necessary for any other Holder to be joined as an
additional party in any proceeding for such purpose.

      (o) Effect of Agreement. This Agreement shall have no force and effect
unless the Reverse Merger is consummated.

                            [SIGNATURE PAGES FOLLOW]

                                       12
<PAGE>

      IN WITNESS WHEREOF, the parties have executed this Registration Rights
Agreement as of the date first written above.

                                      SALMON EXPRESS, INC.

                                      By: /s/ Pete Smith
                                          --------------------------------------
                                          Name:  Pete Smith
                                          Title:  President

                       [SIGNATURE PAGE OF HOLDERS FOLLOWS]

                                       13
<PAGE>

   [SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC. REGISTRATION RIGHTS AGREEMENT]

                                      HUNTER WORLD MARKETS, INC.

                                      By: /s/ Todd Ficeto
                                          --------------------------------------
                                          Name: Todd M. Ficeto
                                          Title:  President

                           [SIGNATURE PAGES CONTINUE]

                                       14
<PAGE>

            [PURCHASER'S SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC.
                         REGISTRATION RIGHTS AGREEMENT]

                                      ABSOLUTE RETURN EUROPE FUND

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

                           [SIGNATURE PAGES CONTINUE]

                                       15
<PAGE>

            [PURCHASER'S SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC.
                         REGISTRATION RIGHTS AGREEMENT]

                                      EUROPEAN CATALYST FUND

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

                           [SIGNATURE PAGES CONTINUE]

                                       16
<PAGE>

            [PURCHASER'S SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC.
                         REGISTRATION RIGHTS AGREEMENT]

                                      ABSOLUTE OCTANE FUND

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

                           [SIGNATURE PAGES CONTINUE]

                                       17
<PAGE>

            [PURCHASER'S SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC.
                         REGISTRATION RIGHTS AGREEMENT]

Oxford Bioscience Partners II L.P.    INVESTING ENTITY
By:  OBP Management II L.P.

                                      --------------------------------------
By: /s/ Cornelius T. Ryan             (Name of Entity)
    ---------------------
    General Partner

                                      By:
                                          --------------------------------------
                                          Name:
                                          Title:

                           [SIGNATURE PAGES CONTINUE]

                                       18
<PAGE>

            [PURCHASER'S SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC.
                         REGISTRATION RIGHTS AGREEMENT]

Oxford Bioscience Partners
(Bermuda) II Limited Partnership      INVESTING ENTITY
By: OBP Management II
    (Bermuda) Limited Partnership

                                      --------------------------------------
By: /s/ Cornelius T. Ryan             (Name of Entity)
    ---------------------
    General Partner

                                      By:
                                          --------------------------------------
                                          Name:
                                          Title:

                           [SIGNATURE PAGES CONTINUE]

                                       19
<PAGE>

            [PURCHASER'S SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC.
                         REGISTRATION RIGHTS AGREEMENT]

Oxford Bioscience Partners
  (Adjunct) II L.P.                   INVESTING ENTITY
By: OBP Management II L.P.
                                      --------------------------------------
By: /s/ Cornelius T. Ryan             (Name of Entity)
      ---------------------
              General Partner

                                      By:
                                          --------------------------------------
                                          Name:
                                          Title:

                           [SIGNATURE PAGES CONTINUE]

                                       20
<PAGE>

            [PURCHASER'S SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC.
                         REGISTRATION RIGHTS AGREEMENT]

Oxford Bioscience Partners
(GS-Adjunct) II L.P.                  INVESTING ENTITY
By: OBP Management II L.P.

                                      --------------------------------------
By: /s/ Cornelius T. Ryan             (Name of Entity)
    ---------------------
    General Partner

                                      By:
                                          --------------------------------------
                                          Name:
                                          Title:

                           [SIGNATURE PAGES CONTINUE]

                                       21
<PAGE>

            [PURCHASER'S SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC.
                         REGISTRATION RIGHTS AGREEMENT]

                                  INVESTING ENTITY

                                  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

                           [SIGNATURE PAGES CONTINUE]

                                       22
<PAGE>

            [PURCHASER'S SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC.
                         REGISTRATION RIGHTS AGREEMENT]

                                  INVESTING ENTITY

                                  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

                           [SIGNATURE PAGES CONTINUE]

                                       23
<PAGE>

            [PURCHASER'S SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC.
                         REGISTRATION RIGHTS AGREEMENT]

                                  INVESTING ENTITY

                                  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

                           [SIGNATURE PAGES CONTINUE]

                                       24
<PAGE>

            [PURCHASER'S SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC.
                         REGISTRATION RIGHTS AGREEMENT]

                                  INVESTING ENTITY

                                  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 Investment Manager

                           [SIGNATURE PAGES CONTINUE]

                                       25
<PAGE>

            [PURCHASER'S SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC.
                         REGISTRATION RIGHTS AGREEMENT]

                                  INVESTING ENTITY

                                  Essex Woodlands Health
                                  Ventures Fund IV L.P.
                                  ----------------------------------------
                                  (NAME OF ENTITY)

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

                           [SIGNATURE PAGES CONTINUE]

                                       26
<PAGE>

            [PURCHASER'S SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC.
                         REGISTRATION RIGHTS AGREEMENT]

                                  INVESTING ENTITY

                                  HARVARD CUSTOM MANUFACTURING, LLC

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

                           [SIGNATURE PAGES CONTINUE]

                                       27
<PAGE>

            [PURCHASER'S SIGNATURE PAGE TO MICROMED TECHNOLOGY, INC.
                         REGISTRATION RIGHTS AGREEMENT]

                                  INVESTING ENTITY

                                  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

                           [SIGNATURE PAGES CONTINUE]

                                       28
<PAGE>

                                     ANNEX A

                              PLAN OF DISTRIBUTION

      The Selling Stockholders (the "Selling Stockholders") of the common stock
("Common Stock") of Salmon Express, Inc., a Delaware corporation (the "Company")
and any of their pledgees, assignees and successors-in-interest may, from time
to time, sell any or all of their shares of Common Stock on any stock exchange,
market or trading facility on which the shares are traded or in private
transactions. These sales may be at fixed or negotiated prices. The Selling
Stockholders may use any one or more of the following methods when selling
shares:

      o     ordinary brokerage transactions and transactions in which the
            broker-dealer solicits purchasers;

      o     block trades in which the broker-dealer will attempt to sell the
            shares as agent but may position and resell a portion of the block
            as principal to facilitate the transaction;

      o     purchases by a broker-dealer as principal and resale by the
            broker-dealer for its account;

      o     an exchange distribution in accordance with the rules of the
            applicable exchange;

      o     privately negotiated transactions;

      o     settlement of short sales entered into after the date of this
            prospectus;

      o     broker-dealers may agree with the Selling Stockholders to sell a
            specified number of such shares at a stipulated price per share;

      o     a combination of any such methods of sale;

      o     through the writing or settlement of options or other hedging
            transactions, whether through an options exchange or otherwise; or

      o     any other method permitted pursuant to applicable law.

      The Selling Stockholders may also sell shares under Rule 144 under the
Securities Act of 1933, as amended (the "Securities Act"), if available, rather
than under this prospectus.

      Broker-dealers engaged by the Selling Stockholders may arrange for other
brokers-dealers to participate in sales. Broker-dealers may receive commissions
or discounts from the Selling Stockholders (or, if any broker-dealer acts as
agent for the purchaser of shares, from the purchaser) in amounts to be
negotiated. Each Selling Stockholder does not expect these commissions and
discounts relating to its sales of shares to exceed what is customary in the
types of transactions involved.

                                       29
<PAGE>

      In connection with the sale of our common stock or interests therein, the
Selling Stockholders may enter into hedging transactions with broker-dealers or
other financial institutions, which may in turn engage in short sales of the
common stock in the course of hedging the positions they assume. The Selling
Stockholders may also sell shares of our common stock short and deliver these
securities to close out their short positions, or loan or pledge the common
stock to broker-dealers that in turn may sell these securities. The Selling
Stockholders may also enter into option or other transactions with
broker-dealers or other financial institutions or the creation of one or more
derivative securities which require the delivery to such broker-dealer or other
financial institution of shares offered by this prospectus, which shares such
broker-dealer or other financial institution may resell pursuant to this
prospectus (as supplemented or amended to reflect such transaction).

      The Selling Stockholders and any broker-dealers or agents that are
involved in selling the shares may be deemed to be "underwriters" within the
meaning of the Securities Act in connection with such sales. In such event, any
commissions received by such broker-dealers or agents and any profit on the
resale of the shares purchased by them may be deemed to be underwriting
commissions or discounts under the Securities Act. Each Selling Stockholder has
informed the Company that it does not have any agreement or understanding,
directly or indirectly, with any person to distribute the Common Stock.

      The Company is required to pay certain fees and expenses incurred by the
Company incident to the registration of the shares. The Company has agreed to
indemnify the Selling Stockholders against certain losses, claims, damages and
liabilities, including liabilities under the Securities Act.

      Because Selling Stockholders may be deemed to be "underwriters" within the
meaning of the Securities Act, they will be subject to the prospectus delivery
requirements of the Securities Act. In addition, any securities covered by this
prospectus which qualify for sale pursuant to Rule 144 under the Securities Act
may be sold under Rule 144 rather than under this prospectus. Each Selling
Stockholder has advised us that they have not entered into any agreements,
understandings or arrangements with any underwriter or broker-dealer regarding
the sale of the resale shares. There is no underwriter or coordinating broker
acting in connection with the proposed sale of the resale shares by the Selling
Stockholders.

      We agreed to keep this prospectus effective until the earlier of (i) the
date on which the shares may be resold by the Selling Stockholders without
registration and without regard to any volume limitations by reason of Rule
144(k) under the Securities Act or any other rule of similar effect or (ii) all
of the shares have been sold pursuant to the prospectus or Rule 144 under the
Securities Act or any other rule of similar effect. The resale shares will be
sold only through registered or licensed brokers or dealers if required under
applicable state securities laws. In addition, in certain states, the resale
shares may not be sold unless they have been registered or qualified for sale in
the applicable state or an exemption from the registration or qualification
requirement is available and is complied with.

      Under applicable rules and regulations under the Exchange Act, any person
engaged in the distribution of the resale shares may not simultaneously engage
in market making activities with respect to our common stock for a period of two
business days prior to the commencement

                                       30
<PAGE>

of the distribution. In addition, the Selling Stockholders will be subject to
applicable provisions of the Exchange Act and the rules and regulations
thereunder, including Regulation M, which may limit the timing of purchases and
sales of shares of our common stock by the Selling Stockholders or any other
person. We will make copies of this prospectus available to the Selling
Stockholders and have informed them of the need to deliver a copy of this
prospectus to each purchaser at or prior to the time of the sale.

                                       31
<PAGE>

                                     ANNEX B

                              Salmon Express, Inc.

                 SELLING SECURITYHOLDER NOTICE AND QUESTIONNAIRE
                 -----------------------------------------------

      The undersigned beneficial owner of common stock, par value $0.001 per
share (the "Common Stock"), of MicroMed Technology, Inc., a Delaware corporation
(the "Company"), (the "Registrable Securities") understands that the Company has
filed or intends to file with the Securities and Exchange Commission (the
"Commission") a registration statement on Form SB-2 (the "Registration
Statement") for the registration and resale under Rule 415 of the Securities Act
of 1933, as amended (the "Securities Act"), of the Registrable Securities, in
accordance with the terms of the Registration Rights Agreement, dated as of
August __, 2005 (the "Registration Rights Agreement"), among the Company and the
Purchasers named therein. A copy of the Registration Rights Agreement is
available from the Company upon request at the address set forth below. All
capitalized terms not otherwise defined herein shall have the meanings ascribed
thereto in the Registration Rights Agreement.

      Certain legal consequences arise from being named as a selling
securityholder in the Registration Statement and the related prospectus.
Accordingly, holders and beneficial owners of Registrable Securities are advised
to consult their own securities law counsel regarding the consequences of being
named or not being named as a selling securityholder in the Registration
Statement and the related prospectus.

                                     NOTICE

      The undersigned beneficial owner (the "Selling Securityholder") of
Registrable Securities hereby elects to include the Registrable Securities owned
by it and listed below in Item 3 (unless otherwise specified under such Item 3)
in the Registration Statement.

                                       32
<PAGE>

                                  QUESTIONNAIRE

      The undersigned hereby provides the following information to the Company
and represents and warrants that such information is accurate:

1.    Name.

      (a)   Full Legal Name of Selling Securityholder

            ____________________________________________________________________

      (b)   Full Legal Name of Registered Holder (if not the same as (a) above)
            through which Registrable Securities Listed in Item 3 below are
            held:

            ____________________________________________________________________

      (c)   Full Legal Name of Natural Control Person (which means a natural
            person who directly you indirectly alone or with others has power to
            vote or dispose of the securities covered by the questionnaire):

            ____________________________________________________________________

2.    Address for Notices to Selling Securityholder:

      Telephone:

      Fax:

      Contact Person:

3.    Beneficial Ownership of Registrable Securities:

      (a)   Type and Number of Registrable Securities beneficially owned:

            ____________________________________________________________________

            ____________________________________________________________________

            ____________________________________________________________________

4.    Broker-Dealer Status:

      (a)   Are you a broker-dealer?

            Yes |_| No |_|

            Note: If yes, the Commission's staff has indicated that you should
            be identified as an underwriter in the Registration Statement.

                                       33
<PAGE>

      (b)   Are you an affiliate of a broker-dealer?

            Yes |_| No |_|

      (c)   If you are an affiliate of a broker-dealer, do you certify that you
            bought the Registrable Securities in the ordinary course of
            business, and at the time of the purchase of the Registrable
            Securities to be resold, you had no agreements or understandings,
            directly or indirectly, with any person to distribute the
            Registrable Securities?

            Yes |_| No |_|

5.    Beneficial Ownership of Other Securities of the Company Owned by the
      Selling Securityholder.

      Except as set forth below in this Item 5, the undersigned is not the
      beneficial or registered owner of any securities of the Company other than
      the Registrable Securities listed above in Item 3.

      (a)   Type and Amount of Other Securities beneficially owned by the
            Selling Securityholder:

            ____________________________________________________________________

            ____________________________________________________________________

6.    Relationship with the Company:

      Except as set forth below, neither the undersigned nor any of its
      affiliates, officers, directors or principal equity holders (owners of 5%
      of more of the equity securities of the undersigned) has held any position
      or office or has had any other material relationship with the Company (or
      its predecessors or affiliates) during the past three years. State any
      exceptions here:

      State any exceptions here:

            ____________________________________________________________________

            ____________________________________________________________________

      The undersigned agrees to promptly notify the Company of any inaccuracies
or changes in the information provided herein that may occur subsequent to the
date hereof at any time while the Registration Statement remains effective.

                                       34
<PAGE>

      By signing below, the undersigned consents to the disclosure of the
information contained herein in its answers to Items 1 through 6 and the
inclusion of such information in the Registration Statement and the related
prospectus. The undersigned understands that such information will be relied
upon by the Company in connection with the preparation or amendment of the
Registration Statement and the related prospectus.

      IN WITNESS WHEREOF the undersigned, by authority duly given, has caused
this Notice and Questionnaire to be executed and delivered either in person or
by its duly authorized agent.

Dated: ________________               Beneficial Owner

                                      By:_______________________________________
                                         Name:__________________________________
                                         Title:_________________________________

  PLEASE FAX A COPY OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND
                   RETURN THE ORIGINAL BY OVERNIGHT MAIL, TO: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.

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