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Press release— 04 December 2007

Oxford Investment Opportunity Network launches Medical Healthcare Group

Oxford Investment Opportunity Network (OION), Europe’s leading technology business angel investment network, has launched a new Medical Devices and Healthcare Technologies Group, known as OION MedTech, to assist companies in the healthcare sector seeking business development funding.

A launch event, held in the Sophos building at Abingdon, Oxfordshire, attracted around 100 investors and guests. They enjoyed presentations by an expert panel of healthcare industry representatives and financiers before discussing the role that private equity can play in helping entrepreneurs to develop innovative technologies. The audience then viewed investment pitches by six innovative companies seeking funding to exploit healthcare technologies.

The expert panel was chaired by Dr Andrew Mackintosh, former Chief Executive of Oxford Instruments plc, and members included Nick Dunster, Business Analyst at the Wellcome Trust, who spoke about early stage investments in medical technologies, while Margaret Parton, Chief Executive of the NHS National Technology Adoption Hub, explained how companies can plan for market access into the NHS. Edward Rudd, co-founder and Partner at Longbow Capital LLP, a VC firm that works with Boots Centre for Innovation to identify consumer health opportunities, provided an insight into what venture capitalists look for when investing in companies and Paul Weinberger, Director of Clinical Development at Enigma Diagnostics, gave an overview of the in-vitro diagnostics sector.

Eileen Modral, Manager of Oxfordshire Investment Opportunity Network (OION), said: “The medical device and healthcare technologies or medtech sector has become an increasingly important sector of our economy because of the significant public health benefits that can result from the development of these technologies.

“Access to patient capital, such as that provided by business angel investors, is critical to the successful development of innovative healthcare ideas. I am delighted to announce the launch of this sub-brand of OION, known as OION MedTech, to provide a focus for investment in healthcare opportunities. We will be holding OION MedTech meetings every six months and I welcome enquiries from investors with an interest in the healthcare sector and from healthcare companies looking to raise funding of up to £2 million.”

Companies presenting at the first OION MedTech meeting included:

Jbol Ltd, an Oxfordshire urology company, which has developed a patented low-contamination device for urine testing that is used by GPs and hospitals and is also biodegradable.

Bioinnovel Ltd, a Cambridge bioprocess engineering company from the Babraham Bio-incubator, is developing a range of ultrasound sensors for process scale-up that can be used in the biopharma industry to accelerate the time it takes for new drugs to come to market.

APA Parafricta Ltd, located in Hampshire, is developing a special fabric that can be used in garments and bedclothes to protect against bedsores - expenditure on pressure sores by the NHS exceeds £2.1 billion every year. Other applications include patient handling.

Sound Foresight Ltd was established to exploit intellectual property from the University of Leeds in the area of ultrasound applied to mobility aids for people with impaired vision. The company has developed the UltraCane™, a cane incorporating ultrasound transmitters that uses bat-like echo location to communicate a map of the surrounding area to the user via vibrating pads on the handle. The UltraCane™ could revolutionise mobility for the vision impaired who until now have been faced with a choice between using a low-tech long white cane or a guide dog.

Domainex Ltd, a spin-out molecular biology company from UCL located in London and Cambridge, has developed a proprietary technology that facilitates the cloning of gene targets for drug discovery. These targets are highly attractive for drug discovery but to date have been very difficult to produce, limiting the ability for major pharma companies to exploit them.

Remo Technologies Ltd, a spin-out company from Defence Science Technology Laboratory, located at Porton Down, produces biotelemetry solutions for biological research.

OION is one of three Investment Networks managed by Oxford Innovation, the UK’s leading operator of Innovation Centres. Oxford Innovation manages 13 Innovation Centres providing flexible office and laboratory space for over 350 growing companies.

The next OION Network meeting is on 29 January 2008 in Oxford.

To find out more about OION MedTech, or becoming an OION member, contact: Eileen Modral on
Tel: +44 (0)1865 811143; email: e.modral@oxin.co.uk

Press Release Ends

NOTES FOR EDITORS

Press enquiries to: Margaret Henry, OION PR Manager.
Tel: +44 (0)1865 811199 E-mail: Margaret Henry

Oxford Investment Opportunities Network (OION) www.oion.co.uk
Oxfordshire Investment Opportunity Network is Europe’s most successful technology business angel network that links investors with entrepreneurs seeking business development funds from £150,000 to £2m. OION helped 13 companies raise £2.5m in the year to March 2005, and during the last five years, has helped 74 companies raise £17.3m. OION holds monthly meetings where selected companies can pitch their proposals to OION's members, which include over 130 active business angels, VCTs and venture capitalists.

Many of these companies are university spin-outs and OION is uniquely positioned to help them. OION holds regular joint presentation meetings, and has strong links with, universities with a reputation for spinning out quality technology companies such as, Warwick, Oxford, Bristol, University College London and Imperial College London.

OION is managed by Oxford Innovation Ltd (www.oxin.co.uk), the UK’s leading operator of innovation centre premises for start-up companies, and sponsored by HSBC, Grant Thornton, Laytons, Frank B Dehn & Co, NESTA and Business Link.