Matritech and Wampole Sign Distribution Agreement for NMP22 Test Kit.

Business Editors/Health/Medical Writers

BIOWIRE2K

NEWTON, Mass.--(BUSINESS WIRE)--June 7, 2004

Matritech, Inc. (AMEX: MZT), a leading developer of protein-based diagnostic products for the early detection of cancer, and Wampole Laboratories, LLC, a wholly owned subsidiary of Inverness Medical Innovations, Inc., today announced an agreement for the distribution of Matritech's NMP22(R) Test Kit. Under the terms of the agreement, Wampole will receive exclusive rights to distribute the NMP22 ELISA Test Kit to hospitals and clinical reference laboratories in the United States. Matritech's own sales force will continue to sell the NMP22(R) BladderChek(R) Test directly to urologists in their offices.

"Wampole's proven ability to market and distribute products to hospitals and reference laboratories and their leadership position in ELISA testing made them an obvious choice for marketing our NMP22 Test Kit. Given the synergistic relationship between the NMP22 BladderChek Test and the NMP22 Test Kit, we have seen an increase in the number of lab tests being performed as the number of NMP22 BladderChek Tests has risen. As our own sales force continues to increase sales to the urologist, we expect that this trend will continue," stated Stephen D. Chubb, Chairman and Chief Executive Officer of Matritech, Inc.

"We are pleased to bring the Matritech assay to our laboratory customers and to be able to support the use of this unique ELISA product. We believe that NMP22 advances the standard of bladder cancer detection and patient management," commented Dr. John Bridgen, President of Wampole Laboratories.

About NMP22(R) Test Kit

The NMP22 Test Kit is a microplate enzyme immunoassay that detects elevated levels of NMP22 protein. Healthy individuals generally have very small amounts of NMP22 protein in the urine. However, the level of NMP22 protein is often elevated in the urine of patients with bladder cancer, even at early stages of the disease. The test is a quantitative tool that identifies hidden or rapidly recurring disease. The use of the NMP22 protein has been FDA-approved four times for various formats and claims.

About Wampole:

Wampole Laboratories sells and markets in vitro diagnostic test systems to hospitals, reference laboratories, and physician offices throughout the United States and Canada. Wampole is a market leader in enzyme linked immunosorbent assay (ELISA) testing within the professional laboratory market, with over 70 products for infectious disease, enteric disease, autoimmune disease and cardiac risk testing. Wampole is also a market leading supplier of rapid membrane point-of-care products for the professional diagnostics market. More information about Wampole Laboratories is available at www.wampolelabs.com.

About Matritech:

Matritech is using its patented proteomics technology to develop diagnostics for the detection of a variety of cancers. The Company's first two products, the NMP22 Test Kit and NMP22 BladderChek Test, have been approved for both the monitoring and diagnosis of bladder cancer. The NMP22 products are based on Matritech's proprietary nuclear matrix protein technology, exclusively licensed from the Massachusetts Institute of Technology, which correlates levels of NMPs in body fluids to the presence of cancer. The Company has discovered other proteins associated with cervical, prostate, breast and colon cancer and is, with its own research staff and through strategic alliances, in various stages of development targeted to each of these applications. More information about Matritech is available at www.matritech.com.

Statement Under the Private Securities Litigation Reform Act 

Any forward-looking statements related to the Company's expectations regarding its current and future products, business prospects, and the results of operations or financial position, expected financial performance and expected customer sales are subject to a number of risks and uncertainties, many of which are beyond the Company's control. These include but are not limited to, risks related to unforeseen technical obstacles in completing development of new products, unforeseen delays in, or denials of, FDA and other regulatory approvals, future product demand and pricing, performance of distributors and partners, the timing of orders from distributors, competitive products and technical developments, general business and economic conditions and those other risk factors described in the Company's periodic reports and registration statements as filed with the Securities and Exchange Commission. These forward-looking statements are neither promises nor guarantees. There can be no assurance that the Company's expectations for its products or future financial performance will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Matritech undertakes no responsibility to update any such forward-looking information.