Molecular Profiling Institute, Inc. Acquires NanoBiomics, Inc.

Developing a platform to commercialize novel genomics-based products

06-29-2005

Phoenix, AZ, June 29, 2005—The Molecular Profiling Institute, Inc.
(Molecular Profiling) today announced the acquisition of the assets
of NanoBiomics, Inc. NanoBiomics is an early-stage company whose
mission is to develop and commercialize genomic-based diagnostics
utilizing nanoscale-processing technologies created at the Applied
Nanobioscience Center at ASU. Nanobiomics was recently recognized as
the "Startup Biotechnology Company of the Year" from the Arizona
BioIndustry Association at the Arizona Bio Expo 2005.
NanoBiomics was formed by the Translational Genomics Research
Institute (TGen) and Arizona Technology Enterprises (AzTE) with the
intention to commercialize technology from both organizations.
Molecular Profiling, a collaboration between TGen and the
International Genomics Consortium (IGC), is a specialty reference
laboratory and a leader in using genetic signatures to help tailor
medical therapy. Molecular Profiling is the first for-profit spin-
off venture for TGen and IGC.

"The acquisition provides Molecular Profiling with a platform for
commercializing novel, genomic-based diagnostic products in the
future," said Richard Love, acting president of NanoBiomics and
Managing Director of TGen Accelerators. "Molecular Profiling is
currently driving physician adoption of such tests in the reference
lab setting. As these tests are accepted into the practice of
medicine, NanoBiomics' technologies will help enable lower cost
diagnostic products to be produced and commercialized more broadly."

Molecular Profiling will work closely with Dr. Frederic Zenhausern,
Director of the Applied Nanobioscience Center at ASU's Biodesign
Institute. "Dr. Zenhausern is a pioneer in using nanoscale
processing technologies to perform complex biological processes on
cartridges the size of credit cards," said Dr. Robert Penny, CEO of
Molecular Profiling. "These technologies will ultimately drive down
the cost of genomic-based diagnostic testing and this transactions
will provide a commercial focus for the collaboration to enhance the
collaboration between TGen, IGC and ASU at Molecular Profiling."

According to Zenhausern, "The goal of developing the technologies
behind NanoBiomics is to be able to one day provide better
diagnostic platforms for physicians to better diagnose and treat
complex diseases."

The acquisition brings together the diagnostic platform developed by
ASU, the diverse and extensive database of DNA signatures and
scientific leadership from TGen, and the reference laboratory
expertise and market access offered by Molecular Profiling.

"The complementary technologies that Molecular Profiling, TGen and
NanoBiomics bring to bear create a stronger molecular diagnostics
products and services company with a clear commercialization path,"
said Peter Slate, the CEO of AzTE. "This is a case where the sum is
worth substantially more than the individual parts."

The terms of the acquisition have not been disclosed.

# # #

About the Molecular Profiling Institute Inc.
The Molecular Profiling Institute, Inc. (Molecular Profiling) is a
specialty reference laboratory that helps cancer patients worldwide
by applying the discoveries of the Human Genome Project to
personalized medicine. Molecular Profiling provides cutting-edge
testing facilities, products, and resources for genomic and
proteomic profiling and treatment of cancers. Molecular Profiling
has strategic relationships and alliances with the Translational
Genomics Research Institute (TGen), the International Genomics
Consortium (IGC), IBM and AmeriPath.

About NanoBiomics, Inc.
NanoBiomics' mission is to improve healthcare by developing
molecular diagnostics that increase the physician's ability to
accurately determine the medical diagnosis and medical prognosis of
the patient. NanoBiomics targets the rapidly growing field of
molecular diagnostics. The company's primary focus is the
commercialization of molecular diagnostics based primarily upon gene
expression signature sets that offer substantial predictive or
prognostic value for disease outcome. The value gained from these
diagnostics will be to increase the survival rates of patients by
tailoring the therapeutic regiment to the genomic profile of a
disease.

About Arizona Technology Enterprises
Arizona Technology Enterprises at Arizona State University works
with university inventors and industry to transform scientific
innovations into products, services and other technology-based
ventures. Arizona Technology Enterprises mines university research,
negotiates transactions, and markets inventions based on university
research. AzTE activities benefit the public by contributing to new
product creation and new economic opportunities. For more
information, visit www.azte.com.

Media Contacts:
TGen, Galen Perry (602) 343-8423
TGen, Amy Erickson (602) 343-8522
AzTE, Charlie Lewis (480) 965-8059

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