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AION Diagnostics Completes Spin Out.


PERTH, Australia Perth may refer to:
  • Perth, Western Australia, the capital of the Australian state of Western Australia
  • City of Perth, a Local Government Area in and around the central business district of Perth
 -- AION AION Anterior Ischemic Optic Neuropathy  Diagnostics Inc is pleased to announce the completion of its successful spin-out from parent company pSivida Ltd.

The successful spin-out was completed in conjunction with AION's corporate advisor, New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 based buyout specialist Global Emerging Markets (GEM). Following the spin-out AION's executive management team retain a 39% shareholding in the Company, GEM a major shareholder at 27% and following a private placement of new shares, outside investors represent the remaining 34% interest. Following the spin-out AION now has 13.14 million shares on issue.

AION Diagnostics Inc CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  Dr Anna Kluczewska said, "We are very pleased to have now completed the spin-out. This represents an exciting period in the growth of the Company. We look forward to continuing the development of AION's imaging products with European support for global innovation and advancement. "

NOTES TO EDITORS:

AION Diagnostics (AION) is a global biotechnology company dedicated to the commercialization of medical imaging contrast and molecular imaging agents for early stage detection of critical diseases. Founded in 2004, AION secured strategic alliances with universities, research institutions and industry partners internationally.

Exploiting the 10-year history of discoveries of porous silicon Porous Silicon (pSi) is a form of the chemical element silicon which has an introduced nanoporous holes in its microstructure, rendering a large surface to volume ratio in the order of 500m2/cm3.  made by Professor Leigh Canham Leigh Canham is a British scientist who has pioneered the optoelectronic and biomedical applications of porous silicon.

Leigh Canham graduated from University College London in 1979 with a BSc in Physics and completed his PhD at King's College London in 1983.
 at the former UK Defence Evaluation Agency (now QinetiQ) and backed by USD USD

In currencies, this is the abbreviation for the U.S. Dollar.

Notes:
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
$50 million in cumulative previous investment in the technology, AION have developed mpSi which has been proven visible across all major imaging modalities. AION is leveraging the unique visualization capabilities of the mpSi technology platform with its biodegradable and biocompatible biocompatible /bio·com·pat·i·ble/ (-kom-pat´i-b'l) being harmonious with life; not having toxic or injurious effects on biological function.  properties to produce imaging product divisions in Marking, Contrast and Molecular Imaging Agents. Additionally, one such strategic objective is the development of collaborations incorporating the mpSi platform with other materials to create superior versions of existing products.

Continuing to strive for better solutions to unmet diagnostic needs, AION's products are committed to the timely visualization of pathologies in a manner which may facilitate prevention rather than treatment of disease.

This press release and the information contained therein do not constitute an offer for sale or a solicitation for submission of an offer for purchase or subscription of shares in AION Diagnostics Inc in Germany nor outside Germany, especially in the United States, Canada, Japan or the United Kingdom and Northern Ireland. This press release is provided solely for information purposes.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Apr 19, 2007
Words:377
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