UTEK Corporation and Haemacure Corporation Announce Technology Acquisition Alliance.

TAMPA, Fla. & MONTREAL -- UTEK Corporation (AMEX:UTK) (LSE-AIM:UTK), a specialty finance company focused on technology transfer, and Haemacure Corporation (TSX:HAE), a specialty bio-therapeutics company developing high-value human proteins, today announced the signing of a technology acquisition alliance.

"Haemacure is pleased to execute this technology acquisition alliance with UTEK as we believe that it will provide Haemacure with global access to intellectual properties that can leverage our product candidates," said Joseph Galli, Chief Executive Officer of Haemacure.

"UTEK looks forward to working with Haemacure to identify potential technology acquisition opportunities that fit its strategic vision. This alliance was entered into under UTEK's previously announced Master Alliance Agreement with Rodman & Renshaw's Acumen Biofin division," commented Clifford Gross, Ph.D., Chief Executive Officer of UTEK.

Through its technology acquisition alliances, UTEK assists companies in enhancing their new product pipeline with the acquisition of proprietary intellectual capital from universities and laboratory research centers. Technology acquisition alliances are generally cancelable by either party with thirty days advance written notice.

About Haemacure Corporation

Haemacure Corporation is a specialty biotherapeutics company developing high-value human therapeutic proteins for commercialization. Haemacure's research and development effort is driven by its proprietary plasma protein extraction technology to develop next-generation products, including surgical hemostats.

Hemaseel[TM]HMN, Haemacure's lead product candidate, is a human-derived fibrin sealant in late-stage clinical development. Haemacure's second product candidate is human thrombin, a component of its fibrin sealant. Both candidates have applications in the expanding biosurgical market. Follow-on development will focus on surgical hemostats, biomaterial combinations and drug delivery in select therapeutic areas. Haemacure has recently discovered additional specialty proteins in its plasma-derived intermediates and will advance these specialty proteins through partnerships with other pharmaceutical and biotechnology companies. For more information about Haemacure please visit its website at www.haemacure.com.

About UTEK Corporation

UTEK([R]) is a specialty finance company focused on technology transfer. UTEK's services enable companies to acquire innovative technologies from universities and research laboratories worldwide. UTEK facilitates the identification and acquisition of external technologies for clients in exchange for their equity securities. This unique process is called U2B([R]). In addition, UTEK offers companies the tools to search and analyze university intellectual properties. UTEK is a business development company with operations in the United States, United Kingdom and Israel. For more information about UTEK, please visit its website at www.utekcorp.com.

Forward-Looking Statements 

Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as UTEK or Haemacure Corporation "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UTEK's or Haemacure Corporation's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of UTEK or Haemacure Corporation, as appropriate, and the valuation of UTEK's investment portfolio, which could cause actual results to differ materially from those currently anticipated. Although UTEK and Haemacure Corporation believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and both UTEK and Haemacure Corporation do not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

UTEK's operating results could fluctuate significantly due to a number of factors. These factors include the small number of transactions that are completed each quarter, the value of individual transactions, the timing of the recognition and the magnitude of unrealized gains and losses, UTEK's dependence on the performance of companies in its portfolio, the possibility that advances in technology could render the technologies it has transferred obsolete, the loss of technology licenses by companies in its portfolio, the degree to which it encounters competition in its markets, the volatility of the stock market and the volatility of the valuations of the companies it has invested in as it relates to its realized and unrealized gains and losses, the concentration of investments in a small number of companies, as well as other general economic conditions. As a result of these and other factors, current results may not be indicative of UTEK's future performance. For more information on UTEK and for a more complete discussion of the risks pertaining to an investment in UTEK, please refer to UTEK's filings with the Securities and Exchange Commission.