NovaThera Ltd. closes fundraising and moves to Cambridge UK.

Cambridge, UK, Monday July 11, 2005 – NovaThera Limited (“NovaThera”) announced that it had finalised a series ‘A’ funding round of up to £2.75 mn.

The round was led by private investors who are experienced in the field of Biotechnology. As a result of this funding round NovaThera has moved its operations base to Cambridge and will accelerate the build up of its commercial activities.

NovaThera has already licensed its innovative bioactive glass technology to Advanced Bio-Technologies, Inc. (“ABT”) for commercialisation in the field of dermatology and is actively developing new biomaterials applications.

“We are delighted to have closed our funding round and were very pleased that it was oversubscribed. We believe that our technology platforms have great potential and we are now positioned to drive forward our plans for commercial development in Europe and the USA.” said Gareth Roberts, CEO of NovaThera.

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NovaThera Ltd. (“NovaThera”) is a spin-out company of Imperial College London. It specialises in pioneering applications of biomaterials and stem cell biology to regenerative medicine and tissue engineering to provide innovative therapeutic solutions. NovaThera has a relationship with Imperial College to continue commercialisation of the current and future technologies emanating from Tissue Engineering and Regenerative Medicine Centre (“TERM”) of Imperial College London, a world-class research center combining biology, biomaterials and bio-photonics expertise. For more information about NovaThera please visit www.novathera.com.