3rd Jan 2006 07:01
Amphion Innovations PLC03 January 2006 Amphion Innovations PLC Additional Investment in Portfolio Companies 3 January 2006 - Amphion Innovations PLC ("Amphion"), the developer oftechnology and life sciences businesses, today announces that it has completedadditional investments in its existing portfolio companies amounting to $2.23million. An additional $500,000 has been invested in Motif Biosciences Inc. ("Motif") aspart of an ongoing Series B financing. Motif is a population genetics companyworking to identify the genetic causes of major diseases by working with aunique, rich, and defensible source of human genetic data from the Persian Gulfstates. An additional $750,000 has been invested in AXCESS International, Inc. ("Axcess") (AXSI.OB) as part of an ongoing financing. Axcess provides radiofrequency identification (RFID) systems for physical security and supply chainefficiencies. An additional $980,000 has been invested in FireStar Software, Inc. ("FireStar")as part of an ongoing Series E financing. FireStar is a software company thathelps institutions achieve efficiency in their business transactions with theirclients. FireStar's flagship product EdgeNode is a complete interface solutionfor automating business transactions between companies. It is designed tosupport the unique needs of multi-enterprise process integration. These follow-on investments, made in line with Amphion's strategy as outlinedprior to its August 2005 admission to AIM, follow significant milestonesachieved by each of its portfolio companies: • Motif has signed a Letter of Intent with the leading private hospital network in the United Arab Emirates (UAE); filed a provisional patent covering its research; hired a leading population geneticist and additional scientific staff, and completed three years of research and development work in the US and Gulf prior to beginning its sampling program in 2006. • Axcess announced its 4Q2005 revenue (calendar) would be significantly higher than 3Q2005, based upon the rapid increase in awareness of RFID following a WalMart supplier mandate. Axcess announced its turn-key Asset ActivatorTM RFID system for automatically locating, counting, and protecting enterprise assets such as IT equipment, test equipment, etc. Axcess' "semi-active" tag activation methodology was widely publicized in the trade press as the next wave RFID solution for enterprise tagging of personnel, assets and vehicles of all kinds, further supported by a fourth patent award. Axcess has also discussed in general terms a revolutionary new RFID product it plans to announce in detail and begin selling in 2006. • FireStar has announced the release of EdgeNode, a software product designed to simplify the integration of back-office transactions between multiple enterprises. FireStar also booked its first customer for EdgeNode and filed a broad patent for the technology, with detail examples of 17 different applications. FireStar continues to make good progress in its other market development and distribution efforts. Additionally, Raymond Mackenzie, formerly of Lazard Freres and Morgan Stanley, has been named to the Board of Directors. Richard C. E. Morgan, CEO of Amphion, said: "Since Amphion's IPO in the summerof 2005, each of these portfolio companies has made strong progress. As such,we are confident in the outlook for each business and are therefore increasingour investment in all three companies." For More Information: Financial Dynamics +44 (0) 20 7831 3113Ben Atwell / John Gilbert Amphion InnovationsBen Austin 1 (917) 686-3979baustin@amphionplc.com About Amphion Amphion Innovations plc recently listed on the AIM Exchange in London under thesymbol AMP. Amphion's business is the formation, financing, management anddevelopment of life science and technology companies, working in partnershipwith corporations, governments, universities, and entrepreneurs seeking tocommercialize their intellectual property. On the Web: www.amphionplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AMP.L