INNOZEN SECURES $2.94M IN SERIES A FUNDING FROM TECH COAST ANGELS & OTHERS Film Strip pioneer moves forward with Launching New Products, Expanding Distribution and Building a Manufacturing Facility

WOODLAND HILLS, Calif. – InnoZen, Inc., a leader in the development of quick-dissolve strips for the delivery of over-the-counter medicines, secures $2.94 million in Series A funding from Tech Coast Angels (TCA) and other Los Angeles-based angel investors. InnoZen intends to use these funds to build an on-site manufacturing facility to consolidate its positions as the preeminent developer and manufacturer of film-strips and to aggressively take its products and licensable technologies to market both domestically and overseas.

“This new round of financing will help us further develop our technology and take our business to the next level,” said InnoZen’s CEO, Rob Davidson. “TCA has provided us with so much more than just capital. Their member’s have taken an active role in our company and their experience and resources have been extremely beneficial to our finance, management, manufacturing and marketing strategies and growth.”

InnoZen has mastered the oral strip delivery of medicines with its proprietary drug-delivery technology. This technology, which was first used to create Chloraseptic® Relief Strips™ in 2003, paves the way for InnoZen to expand its product portfolio as well as to develop products for joint development and out-licensing partnerships. InnoZen introduced Suppress® Cough strips to the mass OTC market this fall. Made popular in recent years as breath fresheners for their rapid delivery and remarkably compact dispensers, this increasingly popular, melt-on-the-tongue oral strip allows for easy and accurate administration of medicine for adults and especially for children.

“InnoZen has all of the elements that TCA looks for in a successful investment: a strong management team, strong market traction, an innovative and defensible technology, and a large market opportunity,” said Steve Pfrenzinger, TCA’s deal lead and InnoZen’s new board member. “Their management team has a proven track record in this market, the technology has been tested and proven, patents have been filed and the potential for thin strips in over-the-counter and animal medicines is huge. Plus, InnoZen’s management team was so easy to work with that we completed our due diligence and funding round in record time.”

About Tech Coast Angels
The Tech Coast Angels, www.techcoastangels.com, is the largest angel investor network in the United States and provides funding and guidance to the most early-stage, high growth companies in Southern California. Since its inception in 1997, TCA members have personally invested $58 million in 91 companies and are the area’s major source of referrals to venture capital firms. TCA has leveraged its investments into more than $552 million in funding for TCA portfolio companies, by attracting venture capital firms as co-investors. TCA offers early-stage companies much more than capital; the group also mentors entrepreneurs and provides them with access to the contacts and knowledge of TCA’s more than 270 members in its three networks in Los Angeles, Orange County and San Diego.

About InnoZen
InnoZen®, Inc. is the preeminent formulator and developer of thin film strips that deliver drug actives and was the first company to do so when it released the Chloraseptic® Sore Throat Relief Strips™ in June 2003. InnoZen moved forward with its proprietary technology to develop two new thin film-strip products for cough in early 2004. InnoZen launched its two new film-strip products under its own Suppress® brand in September 2004. Suppress Cough strips are sold at major retailers nationwide. Find more information at www.innozen.com.