Cleveland Imaging Start-up Palantyr Research Signs Client Services Agreement With BioEnterprise.

Business Editors/Health/Medical Writers

CLEVELAND--(BUSINESS WIRE)--April 30, 2004

Palantyr Research LLC, a Northeast Ohio start-up company that has developed and prototyped an optimized digital imaging system, has signed a client services agreement with BioEnterprise Corporation, a Cleveland-area bioscience business development group. Palantyr has engaged BioEnterprise to support the commercialization of the device through strategic partner introductions, and strategic alliance support.

Palantyr Research was co-founded by Cleveland Physicist Howard Fein, also president of Polaris Research Group, an internationally recognized laboratory in Cleveland specializing in Holographic Nondestructive Testing, and Dr. Andrew Cartlidge, originally of the Cavendish Laboratories, Cambridge University, England. The two partners invented and patented an approach to the digital capture of microscopically magnified optical information, called Fourier Absolute Spatial Resolution technology (FASR(TM) Imaging) that improves results at such a low cost that it is has the potential to revolutionize some industries and revitalize others.

Traditional microscope optical imaging technologies have been perfected over more than 100 years, as their optical limits were discovered, described, and largely realized in the late 19th century.

"Palantyr has developed and patented a breakthrough concept, FASR(TM) Imaging, that optimizes the digital capture of optical data, with potentially massive and commercially disruptive effects," said David Shute, BioEnterprise Executive-in-Residence and a leader of BioEnterprise's efforts in accelerating the Palantyr technology. "The company has an approach to the digital capture of microscopically magnified optical images that not only is better than any other possible digital image capture system, but also allows a much simpler and significantly less expensive light microscope design at the front end of the system. Consequently, Palantyr believes that, through the application of its patented technology, one industry--light microscopy--will be transformed, and a second set of industries--those which gain value from digitally enabled capture, use and analysis of magnified optical images such as telepathology--will be significantly enhanced."

Advantages of the FASR(TM) Imaging design over existing microscopic digital imaging technologies include significantly increased absolute spatial resolution, field of view, and depth of field at a given effective resolved magnification; real-time image generation, and the ability to be used remotely, particularly for medical imaging applications. The design employs a patented, uniquely designed, low cost LED illumination system, eliminating the need for expensive, heat-producing lighting sources. Also, lower cost optical components can be utilized by the technology to produce optimal digital images.

"Palantyr is another example of a promising imaging start-up in the region," said BioEnterprise Senior Vice President Baiju R. Shah. "The company's attorneys brought the device to our attention, and we agreed to see a demonstration. We were struck by the simple elegance of the technology, its affordability, the degree to which it improves upon existing technology, and the significant technical experience of the entrepreneurs. We look forward to working with Palantyr to commercialize this technology."

The microscope market is dominated by classical light microscopy using compound microscopes. US Sales of all light microscopes in 2003 totaled over $600 million.

Palantyr has worked closely with Amin & Turocy, an intellectual property firm that has prepared a comprehensive domestic and foreign patent portfolio in connection with the optical imaging technology of Palantyr. To date, the company has received a broad issued patent, has a dozen pending U.S. patent applications, and has pending international patent applications in most if not all commercially significant foreign venues.

About Palantyr Research

Palantyr Research LLC was founded to commercialize its unique digital imaging technology, called Fourier Absolute Spatial Resolution technology (FASR(TM) Imaging). The patented design has the potential to transform a number of fields, including light microscopy. Company principal is Howard Fein, also president of Polaris Research Group in Cleveland who, with his partner Dr. Andrew Cartlidge, is a co-inventor of the technology.

About Amin & Turocy

Amin & Turocy LLP is a Cleveland-based law firm that focuses its practice to patent, trademark, copyright, and unfair competition law. The firm has a national reputation for excellence in patent procurement, defense, licensing and enforcement. PatentRatings, LLC, an independent patent rating service, ranked Amin & Turocy LLP in the top ten of the nation for patent quality. Some of the firm's notable clients are: Microsoft, Rockwell Automation, Advanced Micro Devices, Nokia, Northrup Grumman, Abbott Labs, Symbol Technologies, Engelhard Corp., Lincoln Electric, Onkyo, Honda Motor Co., Taskem, and eWinWin.

About BioEnterprise Corporation

BioEnterprise Corporation is a business formation, recruitment and acceleration company committed to being a leader in supporting the growth of bioscience companies. Clients include emerging medical device, biopharmaceutical, and health care services companies. BioEnterprise provides mission-critical senior management, business development, and capital access services to its clients.

Located in Cleveland, Ohio, its founders and equal partners are Case Western Reserve University, The Cleveland Clinic Foundation, and University Hospitals Health System, Inc. Additional regional technology partners include the NASA Glenn Research Center, Cleveland State University, and NorTech.