Amphion Innovations, plc Announces Creation of a Gulf-based Joint Venture.LONDON -- Amphion Innovations plc ("Amphion"), a builder of companies in life sciences and technology, today announces that it has signed a Heads of Agreement Heads of Agreement A non-binding document outlining the main issues relevant to a tentative partnership agreement. Notes: It is the draft used by lawyers when drawing up the contract. It serves as a guideline for both parties before any documents are legalized. with a Gulf-based investment company, MS Holdings, backed by the Al-Sayer and Al-Mutawa families of Kuwait, to create a Gulf-based joint venture, MSA (Metropolitan Service Area) An urban area with at least 50,000 people plus surrounding counties. There are 306 MSAs and 428 RSAs (rural service areas) in the U.S. MSAs and RSAs are used to allocate cellular licenses. Investors ("MSA"). The Gulf Cooperation Council countries of the Arabian Gulf Arabian Gulf: see Persian Gulf. now represent the fastest growing economy after China and India. Building on Amphion's company-building strategy and its long-standing ties to the region, the joint venture's objective will be to create new markets and strategic partnerships for Amphion's Partner Companies, identify new investment opportunities in the region in areas of particular Amphion expertise and provide strong access to capital and opportunities from both existing and new Gulf investors. Under the Heads of Agreement, Amphion commits to the formation and incorporation of MSA and to the establishment and operation of two additional companies to be managed by MSA, Saydanah and Suvani. Amphion's Gulf partners have committed US$1 million to the creation of these companies and additional investment upon their completion. Saydanah is being established by our partners in the region in order to bring "functional foods" to a sizeable and wealthy Arab market. Saydanah will be built upon Amphion's experience and expertise in the field of nutrigenomics, a science that identifies foods that alter gene expression for better health, through its Partner Company, WellGen. Suvani, which has previously been incorporated by Amphion, is currently providing skilled software and technology support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services from India to Amphion Partner Companies, Motif and FireStar. Under the Heads of Agreement, Suvani will be merged with a Gulf-based radio frequency identification See RFID. company (RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. ), to be developed by MSA, with the aim of servicing a growing Gulf RFID market. It is expected that the new company will acquire an exclusive right to distribute the products in the Gulf of Amphion's Partner Company, Axcess, a leading RFID company. The Gulf partners have committed to provide an additional US$3.5 million to fund the further development of MSA and its companies upon their formation. Amphion will also transfer 500,000 shares in Motif to MSA in return for a 50% interest in the new Company. Following its initial capitalization, MSA will have an estimated enterprise value of $10 million. MSA is expected to be formed no later than 1 March 2007. In the event that MSA is not formed, then MSA shall invest the US$1 million by way of subscribing for 166,667 shares in Motif, and investing US$500,000 in the Gulf-based companies to be formed by Amphion in the future. Richard C.E. Morgan Amphion's Chief Executive Officer states: "The last several years have seen dramatic economic development in the Gulf, which has been matched by rapid growth in the region's capital markets. While the region is relatively rich in capital and in talented people, there is little experience of building companies based on cutting edge technology. With Amphion's 20 year history and track record of investment and close relationships in the Gulf region, we look forward to bringing our core strategy of building strong companies with solid intellectual property to the Gulf." About Amphion Innovations plc Amphion Innovations plc is listed on the AIM Exchange in London under the symbol AMP. Amphion's business is the formation, financing, management and development of life sciences and technology companies, primarily in the US and UK, working in partnership with corporations, governments, universities and entrepreneurs seeking to commercialize their intellectual property. Amphion's management team has built more than 30 companies in 20 years, all of which have achieved value in excess of $120 million. On the web: www.amphionplc.com About Motif BioSciences, Inc. Motif BioSciences is a population genetics Population genetics The study of both experimental and theoretical consequences of mendelian heredity on the population level, in contradistinction to classical genetics which deals with the offspring of specified parents on the familial level. company focused on discovering genes causing common diseases by utilising human genetic data from the Persian/Arabian Gulf region. Motif is headquartered in the US and London, with additional operations in the Gulf region to develop epidemiological, genealogical ge·ne·al·o·gy n. pl. ge·ne·al·o·gies 1. A record or table of the descent of a person, family, or group from an ancestor or ancestors; a family tree. 2. Direct descent from an ancestor; lineage or pedigree. and genetic information. On the web: www.motifbio.com About WellGen, Inc. WellGen, Inc., based in New Brunswick New Brunswick, province, Canada New Brunswick, province (2001 pop. 729,498), 28,345 sq mi (73,433 sq km), including 519 sq mi (1,345 sq km) of water surface, E Canada. , NJ, is a biotechnology company that is discovering and developing products for food, therapeutics therapeutics Treatment and care to combat disease or alleviate pain or injury. Its tools include drugs, surgery, radiation therapy, mechanical devices, diet, and psychiatry. , and dietary supplement Noun 1. dietary supplement - something added to complete a diet or to make up for a dietary deficiency diet - a prescribed selection of foods vitamin pill - a pill containing one or more vitamins; taken as a dietary supplement markets. WellGen's technical platform is a method of screening the effect of food and related substances on the expression of genes associated with human health conditions. The company has developed proprietary substances that help reduce risk and severity for a variety of diseases. On the web: www.wellgen.com About AXCESS International Inc. AXCESS International Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AXSI), headquartered in greater Dallas, TX, provides Enterprise DotTM, Dual-ActiveTM RFID (radio frequency identification) and Real Time Location Systems (RTLS RTLS Real-Time Location System RTLS Return To Launch Site RTLS Run Time Library Services ) for asset management, physical security, sensing and supply chain efficiencies. The battery-powered (active) RFID tags An electronic identification device that is made up of a chip and antenna. For reusable applications, it is typically embedded in a plastic housing, and for tracking shipments, it is usually part of a "smart" packaging label. locate, identify, track, monitor, count, and protect people, assets, inventory, and vehicles. The patented technology enables applications including: automatic "hands-free" personnel access control, automatic vehicle access control and logistics management Logistics Management is that part of Supply Chain Management that plans, implements, and controls the efficient, effective, forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet , automatic asset management, and sensor management. AXCESS is a portfolio company of Amphion Innovations plc. On the web: www.axcessinc.com About FireStar Software, Inc. FireStar is the provider of EdgeNode, the leading InterEnterprise Service Bus software product for building software applications that automate the exchange of business transactions between companies that are business partners - buyers, sellers, suppliers, vendors, manufacturers, and distributors. FireStar's EdgeNode expands the market for these InterEnterprise Transaction Applications by directly addressing key obstacles to broader adoption at a significantly lower price point than alternative approaches. On the web: www.firestarsoftware.com |
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