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Press Releases Biosensia completes a €2 Million Funding Round Cork, Ireland - February 5, 2008 - Biosensia Limited (Biosensia) a leading developer of disposable microfluidic analytical "chips" for point of use diagnostics has raised €2 million in a recent equity funding round. The funding syndicate was led by new investor Seroba BioVentures (Seroba) who alongside existing investors, Atlantic Bridge Ventures (ABVEN), Street Capital and Enterprise Ireland is providing the funds for Biosensia's expansion. Seroba is a leading Irish Venture Capital company specialising in the Life Science sector. Biosensia has developed a hand-held point of use diagnostics instrument that allows a number of tests to be performed rapidly and simultaneously which will help clinicians make faster decisions. The company will initially target the drugs of abuse market. Drug driving is a major problem world wide with governments seeking a simple, easy to use instrument that can be used by police forces at the roadside. Biosensia will use this investment to complete the development of its drugs of abuse product and position the test for sales and marketing. In addition the funding will enable Biosensia to further develop the technology platform to address other opportunities in the fast growing Point of Care diagnostic market. Alan O'Connell, Partner at Seroba said, "We are pleased to have led this investment in Biosensia particularly at this exciting time in the Point of Care diagnostics market. Not only does Biosensia’s product have advantages in drugs of abuse testing but we believe their platform technology has broad potential in the wider Point of Care sector." Commenting on the fundraising, Gareth Redmond, Founder and Chief Scientist of Biosensia, said, "We are delighted to have Seroba as a new investor in Biosensia. We have a great product and this investment will allow us to take it to volume manufacture and expand into new markets. Seroba’s Life Science sector expertise will further strengthen our board in this direction." Mark Horgan, of ABVEN added, "Biosensia's disposable chip technology makes a complex assay simple, easy to use and highly scaleable. The company’s latest developments are outstanding and we are more than pleased to be following our original investment." About Biosensia: Biosensia, is a developer of integrated micro-system analytical chips and instrumentation for point-of-use diagnostics. The Company is funded by Atlantic Bridge Ventures, Street Capital and Enterprise Ireland and has global headquarters in Cork, Ireland with additional R&D teams in Maynooth, Ireland, Cranfield, England and Lund, Sweden. The company is a leader in polymer replication and microsystem chip fabrication for low cost, high volume manufacture of disposable chips integrating bio-recognition elements including antibodies and molecularly imprinted polymers (MIPs) for sensing. The combination provides a compelling technology advantage for analytical chips. Biosensia is exploiting this generic platform technology to provide unique products for point-of-use
analytical applications in markets ranging from Drugs-of-Abuse Testing (DAT) through Food and
Environment to Clinical, Medical and Security. For more information visit: About Atlantic Bridge Ventures: ABVEN, which has offices in Dublin and London, is one of the most experienced private technology investment funds in Europe, comprising a team of highly experienced technology sector leaders with a proven track record in acquisitions, exits and commitment to development of investee companies. It focuses on providing funding to companies with potential for significant impact on global markets. The team has particular expertise in providing growth equity for technology companies thereby helping them achieve global scale and profitability and driving these businesses towards successful exits either in the public markets or through trade sales. For more information visit: About Seroba: Seroba BioVentures, is a life science venture capital management company. Seroba was established in 2001 to manage Ireland's first dedicated life science venture capital fund and is now the leading life science investor in Ireland. For more information visit: — ENDS —
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