Acrongenomics Inc. and Molecular Vision Ltd. on Track to Meet Challenging Targets for BioLED Technology

Monday July 31, 10:59 am ET
GENEVA, Switzerland—July 31, 2006—Acrongenomics, Inc. (OTCBB:AGNM) and Molecular Vision, Ltd. — an Imperial Innovations spin-out company — today present an R&D update of their joint collaboration, following the meeting of the project's steering committee, that took place on 28th July 2006 at Molecular Vision's site in London. The two companies envisage accelerating the development and commercialization of low-cost, easy-to-use and readily portable Point-of-Care (POC) diagnostic devices. Initial devices will enable personalized on-the-spot monitoring for diabetes management and diagnosis of STDs (Sexually Transmitted Diseases), cardiovascular diseases and substances of abuse, based on the unique BioLED technology platform.
Molecular Vision has been recently transferred its facilities to the new Imperial Bio-Incubator Centre at Imperial College London. The facilities are dedicated to state-of-the art laboratories and offices.
Molecular Vision has established all relevant administration procedures at its new site, and has appointed two full time principal scientists to the project, with respective expertise in microfluidics and OLEDs (Organic Light Emitting Diodes). The company is seeking to recruit three more people by the end of September, including a microfluidic assay scientist, a microfluidic clinical technician and a device fabrication engineer.
Currently, the two companies are making good progress in the development of the generic BioLED platform. The first phase of this work is aimed at developing POC prototypes for diabetes management and diagnosis of cardiovascular diseases. In the past two months a modeling software system for BioLED technology has been developed in order to identify the optimal configuration for high sensitivity detection. The present steps include the development of appropriate devices, OLEDs, PDs (Photodetectors) and filters, allowing the detection of reference analytes already existing in the market at the sub-micromolar level. The first photodetector demonstration is planned for the end of March 2007.
In parallel, studies for the development and fabrication of microfluidic structures for handling blood will take place. We envision the completion of the first phase of these studies towards the end of December 2006.
This partnership between Acrongenomics and Molecular Vision will establish a world-class technology and will offer an unprecedented range of POC applications to the medical diagnostics sector.
Molecular Vision's patented powerful technologies of microfluidics and organic semiconductor devices (light emitting diodes and photodetectors) have the potential to become a de-facto standard for medical testing, since they are based on the novel BioLED technology which allows for the development of true readily portable POC devices.
About POC and Personalized Medicine
Advanced POC technologies are shaping a new era of personalized diagnosis, in which predisposition to a disease is detected at an earlier stage and treatment is tailored to the patient's individual needs. Personalized medicine encompasses in vitro diagnostics to assess disease risk, identify and characterize disease, monitor patients for disease onset and progression, select therapy and evaluate therapeutic response. The ability offered by BioLED technology to perform accurate and fast diagnosis at first consultation will reduce the need for patients' repeated visits to hospitals/GP's, thereby bringing forward the initiation of treatment, freeing up clinical time and lowering treatment costs.

About Acrongenomics, Inc.
Acrongenomics Inc., is a publicly traded company that focuses on investing and commercializing novel technology platforms concerning the Life Sciences sector. Acrongenomics brings novel and realistic concepts to market by transforming scientific innovations into tangible, consumer-oriented applications. The company's headquarters are located at Geneva, Switzerland.
About Molecular Vision, Ltd.
Molecular Vision is a spin-off company of Imperial Innovations Ltd. The company was founded to meet a clearly defined demand in the medical diagnostics, biosensors and analytical instrumentations markets. BioLED technology emerged for covering the need for miniaturized chemical and biological detectors offering high sensitivity and functionality at low cost. The company has directly addressed this market demand by inventing a novel method for optical detection based on recent advances in organic electronics and light emitting diodes combined with microfluidics technology. The company has mainly focused on applying its technology to the medical diagnostics markets.
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