NovaThera Licenses Key Bioactive Glass Technology From US Biomaterials Corporation

London, UK, Tuesday, June 15th, 2004 – NovaThera Limited (“NovaThera”) today announced that it had obtained an exclusive license to a number of key patents covering bioactive glass technology from US Biomaterials Corporation (“USBio”).

The license covers both composition of matter and process patents for the sol-gel bioactive glass technology and covers the key fields of tissue engineering, regenerative medicine, cellular therapies and wound repair. The license excludes the fields of bone void fillers and bone graft substitutes which are being pursued by NovaBone LLC, and oral and dental products which are being pursued by USBio spin-out NovaMin Technology, Inc. The license is a key step in NovaThera’s focus on developing an exclusive Intellectual Property position around its core technologies and products.

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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.