BIOANALYTE EXPANDS PACT WITH UK FIRM ON GLOBAL BIOINFORMATICS OPPORTUNITIES

Portland, Maine. March 24, 2005 – BioAnalyte, Inc., announced today that it has broadened its license agreement with a United Kingdom firm that already produces core components in BioAnalyte’s Trawler product. The license expansion creates a new product – Enterprise Trawler – aimed at pharmaceutical, industrial and other high throughput applications.

The agreement with Positive Probability Ltd (PPL) of East Anglia, England, extends BioAnalyte’s use of proprietary technology for enabling users of analytical instruments to automate the analysis of data-intensive applications, such as assessing diagnostic candidates for early cancer detection. BioAnalyte’s products are part of the biotechnology sub-sector known as bioinformatics, or the application of information science to biology for the purposes of uncovering subtle relationships in complex and abundant data.

“This broadened license allows BioAnalyte to increase sales of our highest margin products,” said Peter Leopold, Ph.D., president of BioAnalyte. “With PPL’s tools, our picks and shovels are sharper and stronger and now they reach farther than those of our competitors.”

BioAnalyte produces a subscription version of the Trawler program called Nets Trawler, which is a low-cost entry point, intended to widen adoption of the BioAnalyte platform.

“Our Nets Trawler product, which also uses PPL’s engine, is designed to penetrate disposables markets. Nets Trawler generates subscription revenue and attracts users to purchase the upgrade. With the new Enterprise Trawler, we will reel in revenues from capital budgets as well,” Leopold added.

“Our growing partnership with BioAnalyte allows us instant access to a widespread and dynamic customer base as well as an opportunity to bring our algorithms to the crux of the most urgent problems in genomics and proteomics,” said Anthony Ferrige, Applications Director of Positive Probability Ltd. “We intend to leverage BioAnalyte’s position within the analytical instruments market to gain maximal adoption of our engine.”



ABOUT POSITIVE PROBABILITY LTD –

Positive Probability Ltd was founded in 1997 to build tools for data reconstruction using a novel statistic. The PPL ReSpect™ algorithm performs 1-D and 2-D image reconstruction with an efficiency that surpasses standard statistical methods. PPL has delivered its embedded tools to Applied BioSystems Inc and its sibling Celera Genomics as well as the British pharmaceutical giant Glaxo Smith Kline.


ABOUT BIOANALYTE INC –

BioAnalyte has sold its discovery products to universities, private research institutes, government labs, and private biotech and homeland security companies throughout the US, and in Canada and Australia. In addition to an NIH grant award, substantial support has during this R&D period has come from contracts and sales to Food and Drug Administration, Health Canada, the Foundation for Blood Research, and Science and Engineering Services, Inc, a Maryland-based contractor in bio-weapons defense.

Enterprise Trawler, a BioAnalyte software product that vastly simplifies data analysis on unwieldy genomic and proteomics data sets, will be available during the first Quarter of 2005. Trawler is also available in the Nets License, a per-data-set license aimed at the core facilities managers who wish to distribute.



Founded in 2001, BioAnalyte is a biomarker discovery partner company based in Portland, ME.