Atlantic Technology Ventures, Inc. Licenses World Wide Rights to ATV-02 Antimicrobial Agent.

Business Editors/Health & Medical Writers

Atlantic Technology Ventures, Inc. (OTC:ATLC) has licensed from its inventors the worldwide rights to ATV-02, a potent and broad-spectrum antimicrobial agent for the local treatment of topical infections. The compound has already completed safety and tolerability studies in a limited number of subjects, and has begun a series of phase II human clinical studies for the treatment of several indications, including viral and bacterial conjunctivitis, and acute and chronic sinusitis. The terms of the deal were not disclosed.

As a broad-spectrum drug with bactericidal, virucidal and fungicidal activity, ATV-02 has the potential of being a viable alternative to the use of antibiotics for the treatment of local infections. Since their discovery over a half a century ago, the misuse and overuse of antibiotics has caused a crisis of antibiotic resistant bacteria. In contrast to antibiotics, ATV-02 is as a human disinfectant that is not expected to promote drug resistant bacteria.

"We are very excited about the broad-spectrum potential of ATV-02 to treat local infections," commented Fred Zotos, President and CEO of Atlantic. "Licensing ATV-02 further affirms our business model of finding therapeutics and medical technologies that address unmet market needs, rapidly developing these through a definitive proof-of-principle, then partnering, licensing or selling them to realize a progressive revenue stream."

About ATV-02

ATV-02 is a long-lived endogenous oxidant that is normally produced in the body by human granulocytes and monocytes. It demonstrates immune modulatory properties exerted by down regulation of proinflammatory cytokines such as tumor necrosis factor, nitric oxide, and protaglandins. Oxidants are important tools that stimulate human phagocytes used to attack and kill pathogens. Besides its immune controlling function, ATV-02 has demonstrated broad-spectrum bactericidal, virucidal, fungicidal and vermicidal activity, along with very low cytotoxicity against human cells and sufficient stability.

All the human clinical studies completed to date have been conducted at the University of Innsbruck, Austria under the direction of the inventors: Dr. Waldemar Gottardi, Dr. Markus Nagl and Dr. Andreas Neher. These studies have all been approved by the Innsbruck Ethics Committee according to GCP (Good Clinical Practice) guidelines, were registered by the Austrian Ministry of Health, and funded by various philanthropic sources including the Austrian Science Fund and the Jubilee Research Fund of the Austrian National Bank.

"Atlantic will continue to evaluate the safety and efficacy of ATV-02 throughout the completion of the ongoing clinical studies being conducted in Innsbruck," stated Michael Ferrari, Vice President of Business Development for Atlantic. "Upon successful completion of these studies, Atlantic will take all necessary actions to continue developing ATV-02 in Europe and begin filing an IND in the US to develop it according to FDA regulations for approval in the US."

About Sinusitis

Sinusitis, or inflammation of the membrane lining the sinuses, is usually caused or complicated by a bacterial, viral or fungal infection. It's the most common reason for office-visit prescription of antibiotics in adults in the United States, and affects an estimated 14 percent of the population according to a report published in the June issue of The Journal of Allergy and Clinical Immunology. It is estimated to result in over 13 million office visits per year. Figures suggest the total annual direct cost of treatment, including drugs, office visits to doctors and surgery, is in excess of US $2.4 billion.

About Conjunctivitis

Conjunctivitis, or "pink eye", is a bacterial or viral infection of the eye's conjunctiva, and is probably the most common infection seen in eye doctors' offices. It is a very contagious disease and causes symptoms such as tearing, redness and swelling of the conjunctiva, purulent discharge and light sensitivity. Conjunctivitis usually takes up to two weeks to run its course, and there remains no effective treatment to date for viral conjunctivitis.

About Atlantic Technology Ventures, Inc.

Atlantic is engaged in the development of biomedical and pharmaceutical products and related technologies. Atlantic's strategy is to identify nascent medical products and technologies that have the potential to address unmet market needs, rapidly develop these through a definitive proof-of-principle, then partner, license or sell them to realize significant revenue. Atlantic currently has ownership interest in Avantix (formerly known as "Catarex"), a surgical device for cataract removal being under development by Bausch and Lomb, and CT-3, a synthetic cannabinoid derivative for treating pain and inflammation under development by Indevus Pharmaceuticals.

Safe Harbor Statement

Cautionary statement under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995: This press release contains certain forward-looking statements that relate to future scientific, business and financial performance. These statements are only predictions and are subject to a number of risks and uncertainties that may cause the actual events or results to differ from those discussed or implied in these statements. These risks and uncertainties include competition from other manufacturers of related technologies, the unavailability of any necessary intellectual property rights possessed by third parties, and certain of those risks described in Atlantic's most recent report on Form 10-KSB with the Securities and Exchange Commission.