START-UP FUNDING SECURED

Edinburgh Biosciences Ltd. (EBS) is pleased to announce the launch of full commercial operations. EBS will operate from its offices on the Heriot Watt University Research Park and laboratories on the University campus. Its field of interest is centred on the development and exploitation of optical components, instruments and systems for detection, analysis and determination measurements in bioscientific applications.

A group of investors led by Professor S. D. Smith OBE, FRS, FRSE, founder of Edinburgh Instruments Ltd, has provided the initial capital which has been supplemented by the award of several R&D funding grants including a SMART:SCOTLAND award. A Board of Directors has been appointed as have the initial management and professional positions. In addition to the start-up funding and awards, applications have been submitted for various competitive awards supported by UK and the EU agencies. The level of funding secured provides for sustained commercial operations with investment for the longer term also assured.

Initial activity will be focused on three significant areas of development. The first is the exploitation of a design breakthrough in interference filters which allow dynamic wavelength and bandpass selection. Designed jointly with Delta (Denmark), EBS will market the filters to OEM customers as well as in its target biosciences market. The second is the commercialisation of a measurement system designed to detect contamination on surgical instruments. Based on development work conducted jointly by EBS and University of Edinburgh, we expect this instrument to be released to customers early in 2014. A third area of development concerns the development of diagnostics systems for the early detection of cataracts and their treatment by novel laser photolysis methods. We anticipate commercial readiness in this development by 2015.

While independent of EI and its new owners, Techcomp Group Ltd., EBS and EI have complementary interests in their respective areas of technology and market development and will cooperate to mutual advantage as required.