PRESS RELEASE

Date: 30 June 2003

Subject: Fluorotechnics receives a second $250,000 Commonwealth Government Grant

Details:

Fluorotechnics was last week awarded the maximum possible grant of $250,000 under Round 4 of the Australian Commonwealth Government’s Biotechnology Innovation Fund (BIF).

The grant was awarded to assist with the commercialising new fluorescent labels for diagnostics and proteomics.

Fluorescence has become the detection method of choice in modern analytical biotechnology because of its sensitivity, ease of use, large dynamic range and safety. Fluorotechnics’ scientists discovered and are now manufacturing and commercialising the first member of a new family of fluorescent molecules. This assistance will enable the company to develop and characterize other members of this unique and useful family of fluorescent molecules.

The Biotechnology Innovation Fund (BIF) is a key initiative arising from the Commonwealth Government National Biotechnology Strategy that outlines its vision and support for the Biotechnology Sector.

This grant will greatly assist the company in achieving its aims of generating export sales and creating Australian employment.

Contact: Professor Duncan Veal, CEO
Email: dveal@fluorotechnics.com