NovaThera Ltd. licenses novel bioactive glass technology to Advanced Bio-Technologies, Inc.

London, UK, Monday, July 4, 2005 – NovaThera Limited (“NovaThera”) today announced that it has licensed its innovative bioactive glass technology to Advanced Bio-Technologies, Inc. (“ABT”) for commercialization in the field of dermatology.

Under the terms of the Agreement, ABT has been granted exclusive worldwide rights to develop, manufacture and commercialize products based on NovaThera’s patented gel-derived bioactive glass technology. The Agreement is limited to the field of dermatology and includes rights to NovaThera’s future technology. ABT will pay NovaThera an upfront payment as well as potential milestone payments and royalties on product sales.

The first products to be commercialized will be focused on the treatment and prevention of wound infections utilizing the unique silver-bioactive glass combination.

“We are pleased to be working with an up and coming company like ABT. We believe that our technology has great potential in its current format and we are excited about the short term and long term developments currently in the pipeline. ABT’s technology fits perfectly with the bioactive glass technology and we believe that they have the right route to market that will ensure long term success for both companies,” said Gareth Roberts, CEO of Nova Thera.

“This Agreement is an example of how ABT and NovaThera look to extend the value of NovaThera’s technology. We are delighted to enter into this Agreement with a recognized leader in the field. This is another step in the development of ABT into a major player in the dermatology field” said Al Berlat, Ph.D., Chairman and CEO of ABT.

“This is a very important license for ABT as it provides us with rights to exploit a unique and innovative technology across the entire range of products that we plan to develop in the field of dermatology. In addition to our own pipeline, we now have a range of exciting products from a leader in their field. We have also gained a valuable right-of-first-refusal to NovaThera’s promising dermatology pipeline,” said David Bryant, EVP Business Development at ABT.

* * * * * *

NovaThera Ltd. (“NovaThera”) is a spin-out company of Imperial College London. It specializes 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 commercialization 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.

Advanced Bio-Technologies, Inc. (“ABT”) is a privately held pharmaceutical company focused on development and commercialization of products in the field of dermatology. ABT markets Kelo-cote®, a patented topical silicone gel for treatment of scars, in a number of global markets, including USA, Japan, Latin America, and Australia (please note that this product was licensed by Valeant Pharmaceuticals International (NYSE: VRX) and is marketed as Dermatix® in Europe, CIS, Middle East, and certain Asian and African markets). ABT has several formulations under development, primarily for treatment of scars, chronic wounds, acne, psoriasis, and skin cancer. For more information about ABT and its products please visit www.advancedbiotech.com and www.kelocote.com.