Frost & Sullivan Recognizes OmniCorder's Technical Superiority in Medical Imaging for Cancer and Vascular Diseases Diagnosis.

SAN FRANCISCO -- Frost & Sullivan will present its 2005 Product Leadership of the Year Award in the field of medical imaging for cancer and vascular diseases diagnosis to OmniCorder Technologies Inc. for developing BioScanIR(R) system, a revolutionary functional medical imaging system.

"BioScanIR has proven to help improve the outcome and lower the overall cost of care," explains Frost & Sullivan research analyst Michael Valenti. "Utilizing the same quantum well infrared photodetector (QWIP) technology initially developed for the U.S. Department of Defense's Ballistic Missile Defense Initiative, better known as Star Wars, the BioScanIR system provides a non-invasive, low-cost method to obtain functional medical imaging information."

BioScanIR offers a technology platform for three distinct areas: cancer therapy monitoring and drug discovery, surgical applications, and screening and diagnostics.

Cancer therapy monitoring is one of the applications explored because of the new, unmet need driven by the recent introduction of molecularly targeted cancer drug therapies. To determine the effectiveness of these drugs, doctors currently rely on functional magnetic resonance imaging (fMRI) or positron emission tomography (PET) scanning which require the injection of contrast agents. These procedures are invasive, time consuming, and expensive.

BioScanIR employs QWIP sensors alongside powerful proprietary algorithms, which are sensitized to molecular level activity that affects the blood flow as minute changes occur in photon flux. This allows easier detection of a drug's effectiveness.

It is also a noncontact technology, which is easy to use by a trained technician instead of a licensed radiologist, and, the BioScanIR system is significantly less expensive than currently available technologies. Furthermore, due to the noninvasive nature of the technology and the low cost, BioScanIR can be used as often as needed without any side effects. BioScanIR is FDA-cleared, CE mark-approved, and has its Underwriters Laboratory approval.

OmniCorder has fostered valuable research alliances with leading institutions such as Harvard University's Dana Farber Cancer Center, The Mayo Clinic, The Cleveland Clinic and The Karolinska Institute in Stockholm, Sweden.

The 2005 Medical Imaging in Cancer & Vascular Disease Diagnostics Product Leadership of the Year Award honors OmniCorder for its innovations. This Award not only recognizes the innovative technology behind the product but also its strong market potential. It confirms OmniCorder's successful adoption and invention of new technologies that have become a part of a well-designed product family.

The Award also recognizes the company's successful product development strategies and the degree to which the product has met customer stated needs and requirements. Such innovation is expected to significantly contribute to the industry in terms of market acceptance.

Held in San Francisco, Frost & Sullivan's 2005 Excellence in Medical Devices & Healthcare Awards Banquet honors world-class companies for outstanding performance and achievements in the medical devices industry. An annual event, the banquet recognizes the quality and merit of distinguished individuals and companies.

About OmniCorder Technologies Inc.

OmniCorder Technologies Inc., headquartered in Bohemia, New York, is a leading developer of functional medical imaging applications using advanced infrared focal plane arrays. OmniCorder provides imaging technology for clinicians and researchers for drug discovery, disease detection and disease management applications.

OmniCorder's mission is to improve the quality and cost effectiveness of healthcare services and research through identifying, acquiring and adapting high-resolution infrared technology for biomedical applications.

About Frost & Sullivan

Frost & Sullivan, a global growth consulting company founded in 1961, partners with clients to create value through innovative growth strategies. The foundation of this partnership approach is our Growth Partnership Services platform, whereby we provide industry research, marketing strategies, consulting, and training to our clients to help grow their business. A key benefit that Frost & Sullivan brings to its clients is a global perspective on a broad range of industries, markets, technologies, econometrics, and demographics. With a client list that includes Global 1000 companies, emerging companies, as well as the investment community, Frost & Sullivan has evolved into one of the premier growth consulting companies in the world. For more information, visit www.frost.com.