Embryo Development Corp. makes announcement

Business Wire, Feb 10, 1997

NEW YORK--(BUSINESS WIRE)--Feb. 10, 1997--Embryo Development Corp. (NASDAQ:EMBR) announced today that the company through its majority owned subsidiary, Hydrogel Design Systems Inc., has simultaneously entered into and closed on two asset purchase agreements pursuant to which it has acquired substantially all of the assets from two related entities, Novatech Inc. and Alternative Design Systems R & D Group.

The two companies are engaged in the business of manufacturing, marketing, selling and distributing hydrogel as well as after-market components for apnea monitoring.

The company's President, Donn Gordon, stated that, "The company will benefit greatly from these transactions. These purchases will enable the company to expand its product line and business beyond their current levels."

Embryo Development Corp. develops, acquires, manufactures, markets and distributes various bio-medical devices.

CONTACT: Matthew Harriton, 212/355-8484