IVME In Veritas Medical Diagnostics Inc (CE)

UTEK Corporation (AMEX:UTK) (LSE-AIM:UTK), a specialty finance company focused on technology transfer, and In Veritas Medical Diagnostics (OTCBB:IVME), a novel medical device company, are pleased to announce that they have signed a strategic alliance agreement. John Fuller, Chief Executive Officer of In Veritas Medical Diagnostics said, "We are very pleased to enter into this alliance with UTEK, as it may accelerate the identification of promising new technology acquisition opportunities for us. We believe that our alliance with UTEK should enable us to enhance our intellectual property portfolio through the acquisition of new university discoveries." "UTEK looks forward to working with In Veritas Medical Diagnostics to identify and transfer university and federal laboratory technology acquisition opportunities that fit its strategic vision," commented Mark McBride, UTEK's Vice President. Through its strategic alliance agreements, UTEK assists companies in enhancing their new product pipeline with the acquisition of proprietary intellectual capital from universities and laboratory research centers. Strategic alliance agreements are generally cancelable by either party with thirty days advance written notice. About In Veritas Medical Diagnostics In Veritas Medical Diagnostics uses its proven, patented core technology to design, develop and test medical devices for near patient testing and monitoring. In Veritas Medical Diagnostics' products serve large global markets in the monitoring of chronic conditions affecting large numbers of the population. Two applications form the focus of current development work. The first is a device for measuring the coagulation of blood in patients with cardiovascular disorders, which is in the last stages of clinical trials. The second is a device that predicts the onset of human labor up to several weeks before birth. For more information about In Veritas Medical Diagnostics, please visit its website at http://www.ivmd.com. About UTEK Corporation UTEK(R) is a specialty finance company focused on technology transfer. UTEK enables companies to acquire innovative technologies from universities and research laboratories worldwide. UTEK facilitates the identification and then finances the acquisition of external technologies for clients in exchange for their equity securities. This unique process is called U2B(R). In addition to its U2B(R) service, UTEK offers companies the tools to search, analyze and manage university intellectual properties. UTEK is a business development company with operations in the United States, United Kingdom and Israel. For more information about UTEK, please visit its website at http://www.utekcorp.com. Forward-Looking Statements Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as UTEK or In Veritas Medical Diagnostics "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UTEK's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of UTEK or In Veritas Medical Diagnostics, as appropriate, and the valuation of UTEK's investment portfolio, which could cause actual results to differ materially from those currently anticipated. Although UTEK and In Veritas Medical Diagnostics believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and both UTEK and In Veritas Medical Diagnostics do not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. UTEK's operating results could fluctuate significantly due to a number of factors. These factors include the small number of transactions that are completed each quarter, the value of individual transactions, the timing of the recognition and the magnitude of unrealized gains and losses, UTEK's dependence on the performance of companies in its portfolio, the possibility that advances in technology could render the technologies it has transferred obsolete, the loss of technology licenses by companies in its portfolio, the degree to which it encounters competition in its markets, the volatility of the stock market and the volatility of the valuations of the companies it has invested in as it relates to its realized and unrealized gains and losses, the concentration of investments in a small number of companies, as well as other general economic conditions. As a result of these and other factors, current results may not be indicative of UTEK's future performance. For more information on UTEK and for a more complete discussion of the risks pertaining to an investment in UTEK, please refer to UTEK's filings with the Securities and Exchange Commission.