Abcellute Announces Exclusive Agreement with Japanese Biotech Firm, GeneFrontier Corporation.

CARDIFF, Wales & TOKYO -- Abcellute Ltd (Abcellute) and GeneFrontier Corporation (GeneFrontier) announced today that they have signed an Exclusive Agreement for the manufacture, marketing and distribution of Abcellute's preserved hepatocyte products into Japan. Under the terms of the agreement, GeneFrontier are also permitted to establish sub-licences with Pharmaceutical and similar companies actively involved in the pre-clinical evaluation of new candidate drugs, for their internal use of the Abcellute cell preservation technology. Detailed financials are not disclosed.

"The contract signed today is a significant milestone in Abcellute's strategy to extend the adoption of its cell preservation technology platform on a global basis. We are delighted that the pharmaceutical industry in Japan, through our relationship with GeneFrontier, will now have immediate and direct access to the technology", commented Alex Watson, Abcellute's Chief Executive Officer.

"The Agreement with Abcellute marks a huge first step to introduce Abcellute's proprietary cell preservation technology applied to hepatocytes into the Japanese pharmaceutical market. This technology permits pharmaceutical companies to perform pre-clinical toxicology evaluations of new candidate drugs using hepatocytes which are preserved at non-freezing temperatures for the working week and which exhibit cell viability and metabolic activity in keeping with freshly isolated hepatocytes", commented Makoto Ogasawara, President & CEO of GeneFrontier. "We are convinced that today's announcement will increase the awareness of Abcellute's innovative cell preservation technology, which has the potential to add efficacy to the pre-clinical evaluation process in Japan, resulting in shortening the lengthy drug-discovery processes."

About Abcellute Ltd:

Abcellute was founded in 2001 and is a spinout from the School of Biosciences, Cardiff University. The company's core platform technology permits the preservation and storage of fresh primary hepatocytes for up to 5 days at non-freezing temperatures without loss of biological function or principle biomarkers. Preservation is achieved through the immersion of the cells in a unique matrix which coats and protects them. The retention of total cell integrity and full profile of drug metabolising enzymes (including Phase II) provides the first effective solution to the needs of the pharmaceutical industry, in the pre-clinical evaluation (ADMET) of new drug candidates. Prior to use, the cells are re-activated and subsequently behave as normal fresh cells, retaining their 'intact whole organ' characteristics.

About GeneFrontier:

GeneFrontier was established as an innovative solution provider for genomic drug research & development in 2003. GeneFrontier has the strength and wealth of experience of its three founding shareholders; the business creation expertise and broad network of ITX CORPORATION, the biotechnology and extensive clinical laboratory experience of BML and the bioinformatics technology and know-how of INFOCOM.

GeneFrontier's expertise are in fast introduction of state-of-the-art technologies into Japanese biotech research and drug-discovery markets, i.e. microarrays, monoclonal antibodies and many other innovative technologies from all over the world. GeneFrontier also develops its own drug pipeline utilizing these technologies in order to contribute to the improvement of Quality of Life. For further information please visit the corporate website at: http://www.genefrontier.com/

Statements included in this press release which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbour provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The company cautions readers that forward-looking statements, including without limitation those relating to the company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Factors that may affect future operations and business prospects include, but are not limited to, clinical and scientific results and developments concerning corporate collaborations and the company's proprietary rights and other factors described in the prospectus relating to the company's recent public offering.