Inproteo/Prosolia Announces Licensing Deal with Thermo Electron Corporation.

INDIANAPOLIS -- Inproteo and its spin-out subsidiary company, Prosolia, today announced an agreement to license their ElectroSonicSpray Ionization (ESSI) Technology to Thermo Electron Corporation (NYSE: TMO). The ESSI technology is a proprietary ionization technique that allows large molecules including proteins and protein complexes to be ionized with retention of their conformation and function. Financial terms of the agreement were not disclosed.

Dr. John Campbell, president and CEO of Prosolia, said, "We are very pleased to have concluded this non-exclusive license to our ESSI Technology with such an established company as Thermo Electron Corporation. Our efforts to commercialize the ESSI technology and our ion soft landing technology are gathering momentum, and this type of agreement demonstrates the value of these technologies in the expanding use of mass spectrometers in the proteomics and life sciences markets."

Dr. John Hurrell, chairman of Prosolia and president of Inproteo, the majority shareholder of Prosolia, commented, "The ESSI technology will greatly simplify the application of mass spectrometry to large proteins. In particular, ESSI will allow the use of mass spectra to identify macromolecular species such as enzyme-substrate transition complexes and other ligand-receptor species."

Ian Jardine, Ph.D., chief technology officer at Thermo Electron commented, "Through this agreement, we have the opportunity to bring to our customers another advance in mass spectrometry from the laboratory of Professor R. Graham Cooks, a Henry Bohn Hass Distinguished Professor of Analytical Chemistry and Mass Spectrometry at the Aston Laboratories of Purdue University, and a leader in the field of mass spectrometry research. When implemented commercially, most likely in early 2005, ESSI will bring a complementary ionization technology to the widely used Electrospray ionization technique and MALDI for the analysis of large biological molecules, especially proteins and protein complexes."

About Thermo Electron Corporation:

Thermo Electron Corporation is the world leader in analytical instruments. Our instruments solutions enable our customers to make the world a healthier, cleaner and safer place. Thermo's Life and Laboratory Sciences business provides analytical instruments, scientific equipment, services and software solutions for life sciences, drug discovery, clinical, environmental, and industrial laboratories. Thermo's Measurement and Control business is dedicated to providing analytical instruments used in a variety of manufacturing processes and in-the-field applications including those associated with safety and homeland security. Based near Boston, Massachusetts, Thermo has revenues of more than $2 billion, and employs approximately 10,000 people in 30 countries. For more information, visit http://www.thermo.com

About Prosolia:

Prosolia, Inc. is a spin-out company formed by Inproteo, a partnership between Eli Lilly and Company, Indiana University and Purdue University. Prosolia was established in 2003 to commercialize certain innovations in Mass Spectrometry arising in the laboratory of Professor R. Graham Cooks at Purdue University. Prosolia employs mass spectrometers to separate and isolate proteins (and other labile macromolecules) for the production of consumable microarrays or biochips (including protein arrays or protein chips). Prosolia's technology platforms include a proprietary ionization method that maintains macromolecular and protein conformation and function. In addition, Prosolia's ion soft landing (ISL) technology allows ions of a pre-selected mass-to-charge ratio to be separated and selectively deposited on a proprietary disposable surface in such a manner that the integrity and biological activity of the ionized molecules are retained. The company has several patent applications pending. For more information on Prosolia, contact Dr. John Campbell, President and CEO at 317-278-6111 or email [e-mail]

About Inproteo:

Inproteo LLC is an alliance of Eli Lilly and Company, Indiana University and Purdue University to commercialize cutting-edge research in proteomic tools and analytical methods. In addition to Eli Lilly's significant research and development capabilities, the analytical chemistry departments of Indiana University and Purdue are ranked among the nation's top four. Drawing on these resources, Inproteo has filed 45 patents and formed three companies since its inception in 2002. For more information on Inproteo, visit www.inproteo.com or contact Dr. John Hurrell by phone at 317-278-8185 or email [e-mail]