January 2007

MEC Dynamics secures additional $1.5 million investment to accelerate development of point of care test portfolio

Guildford, UK and San Francisco, Ca: MEC Dynamics ('MEC'), a company specializing in innovative point-of-care medical devices, has raised an additional $1.5 million. The funding comes from the firm's existing main shareholder, SpringHill Bioventures ('SBV').

The funds will be used to support the commercialization of Avie, MEC's lead product. Avie is a rapid test for the measurement of HbA1c, a key indicator of diabetic complications. The company plans to file a 510K for the device in the next quarter and launch it soon after approval. In addition, MEC will now fast track other tests within its portfolio, focusing on coagulation and cholesterol tests. This development will underpin the research currently being performed on Omni, a future multi-purpose test device described by the firm as akin to a central laboratory facility designed for the physician's office.

Springhill Management Ltd ('Springhill'), the UK private equity management company, coordinated the investment. The Chairman of Springhill, Dr Kim Tan, said today: 'MEC has performed excellently since the first investment, and is on plan to launch a revolutionary HbA1c device very shortly. In addition, and quite beyond expectations, the company has developed working prototypes for two additional point of care devices. Much credit goes to the CEO, Mr. Mpock, and his team for this effort, which paves the way for more product releases in 2008'.

MEC Dynamics Corp

Mr Emmanuel Mpock