Engineering News

Advance Nanotech Subsidiary Continues to
Build out Research Team

Tuesday June 28, 8:45 am ET

Owlstone Limited Appoints Scientist Ashley Wilks
to Key Research Post

NEW YORK CITY--(BUSINESS WIRE)--June 28, 2005--Advance Nanotech, Inc., the premier provider of services, support and financing to drive the commercialization of nanotechnology discoveries, today announced its subsidiary, Owlstone Limited, has expanded its scientific research team. Dr. Ashley Wilks is leaving Smiths Detection, a division of Smiths Group PLC, to join Owlstone, where he will play a key role in helping the company further advance the development of nanofabricated threat detection technology. Wilks is Owlstone's third senior-level hire this year.

Owlstone is developing miniaturized chemical detection sensors that quickly and accurately identify trace elements of toxins, contaminants and chemical warfare agents. Owlstone devices are projected to be smaller than a 'dime' at a unit cost 1,000 times less than existing commercially successful sensors. Owlstone's technology will redefine detection systems, making it cost effective to install sensors across a wide area and greatly reducing the risk of public exposure to biological, chemical or explosive threats.

"Dr. Wilks brings a wealth of expertise in the area of toxic industrial gas and volatile organic agent monitoring," said Paul Boyle, cofounder of Owlstone. "He will be a key contributor as Owlstone continues to drive development and adoption of inexpensive, highly accurate threat detection devices."

Prior to joining Owlstone Dr. Wilks worked in research and development for Smiths Detection, the world's leading provider of X-ray and trace detection equipment. At Smiths, he worked with a team of scientists and engineers developing and testing applications for the detection of toxic gases. Before Smiths, Dr. Wilks spent time at the UMIST Department of Instrumentation and Analytical Science teaching courses in practical analytical and instrumental techniques. Dr. Wilks also worked with APS/Berk Pharmaceuticals, where he played a principal role in the method development and routine analysis of new and modified formulations using modern instrumental and wet chemical techniques. He holds a PhD and MSc from UMIST, Manchester, and a BSc from the University of Surrey.

About Advance Nanotech, Inc.

Advance Nanotech Inc. is dedicated to ensuring nanotechnology discoveries reach maximum market potential through successful commercialization. Advance is the trusted guide to commercial success for nanotech entrepreneurs spanning the globe, partnering with leading universities to provide scientists and researchers with mission critical infrastructure support to transform their discoveries to marketable solutions. The organization provides a range of services and support including financing, leadership assets and counsel on intellectual property, licensing and regulatory issues. With a portfolio of nearly 20 companies developing technologies which offer potentially breakthrough nanotechnology discoveries in the electronics, biopharma and materials sectors, Advance's goal is to transform the potential for nanotechnology discoveries into innovative products that further evolve existing industries and enable new markets.

This document contains forward-looking statements by Advance Nanotech regarding its expectations as to its business, and involves risks and uncertainties and may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements.

Factors that may cause such a difference include, but are not limited to, problems and risks associated with developments in the nanotechnology industry in general and in Advance Nanotech's products under development in particular; the potential failure of Advance Nanotech's products under development to prove safe and effective in application; uncertainties inherent in the early stage of Advance Nanotech's products under development; failure to successfully implement or complete research programmes; failure to receive marketing clearance from regulatory agencies for our products under development; acquisitions, divestitures, mergers, licenses or strategic initiatives that change Advance Nanotech's business, structure or projections; the development of competing products; uncertainties related to Advance Nanotech 's dependence on third parties and partners; and those risks described Advance Nanotech 's filings with the SEC. Advance Nanotech disclaims any obligation to update these forward-looking statements.

Further information about these and other relevant risks and uncertainties may be found in the Advance Nanotech's findings with the Securities and Exchange Commission, all of which are available from the Commission as well as other sources.

Source: Advance Nanotech, Inc.

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