Commonwealth Biotechnologies, Inc. and the Center for Functional Genomics Sign Strategic Alliance Agreement; Agreement Extends Reach of Both in the Life Sciences Service Sector

Business Wire, Feb 22, 2006

RICHMOND, Va. -- Commonwealth Biotechnologies, Inc. (NASDAQ:CBTE) and The Center for Functional Genomics (CFG) announced today that they have signed a Strategic Alliance Agreement to co-market their respective services to the Life Sciences Industry. The Agreement provides for ready access to the combined capabilities of the two organizations and will enable better overall technology solutions to be developed for their clients in the Life Sciences Industry.

"This Agreement affords CBI clients access to an extended set of very high end services that can be combined with our existing technology base to provide the most comprehensive array of cutting edge capabilities in the industry. On the other hand, CFG will now be able to offer support for their clients who are seeking to meet the FDA requirements for submission of data in support of new drug applications. This is a powerful combination for both of our client bases," said Richard J. Freer, Chairman & COO of CBI.

"The CFG was established to support academic research and foster the growth of the biotechnology industry," said CFG Director Paulette McCormick, Ph.D. "We accomplish this by giving bioscience researchers access to a broad array of state-of-the-art instrumentation that is otherwise too costly or inefficient for individual researchers or companies to maintain on their own. Our new alliance with CBI will allow our clients to leverage the expertise of CBI's product development teams and will help our clients convert their basic research into medically and scientifically valuable products."

Commonwealth Biotechnologies, Inc. is a solutions provider to the global biotechnology industry, academic institutions, government agencies, and pharmaceutical companies. It offers broad ranging expertise and a complete array of the most current analytical and synthetic chemistries and biophysical analysis technologies, many of which are not available from other commercial sources. CBI has crafted a stimulating, open environment where scientists collaborate among themselves and with its clients, take on interesting challenges and develop creative solutions. Through its FIL division, CBI offers comprehensive genetic identity testing, including paternity, forensic, and CODIS analyses. CBI is accredited by the American Association of Blood Banks, CLIA, and the National Forensic Science Technology Council, and operates fully accredited BSL-3 laboratory.

Founded in 1992, CBI is located in Gateway Centre, Chesterfield County at 601 Biotech Drive, 23235 (1-800-735-9224). For more information, visit CBI on the web at www.cbi-biotech.com and visit FIL at www.fairfaxidlab.com. CFG provides basic laboratory services to hundreds of bioscience researchers at companies, universities and government agencies around the world, helping them get robust, reliable results quickly and affordably. Core competencies include expertise in molecular genetics, mouse transgenics, microarray, proteomics, tissue culture, flow cytometry and laser- and UV-capture microdissection services. It handles projects of any size, from single sample analyses to long-term work as collaborators or subcontractors on NIH grants. Please visit its website at www.cfgbiotech.com for pricing and additional information. The Center for Functional Genomics (CFG) is an operating unit of the Research Foundation of the State University of New York (SUNY), and is located at SUNY's University at Albany.

No statement made in this press release should be interpreted as an offer to purchase any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Any statements contained in this release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties as identified in CBI's filings with the Securities and Exchange Commission. Actual results, events or performance may differ materially. Readers are cautioned not to place undo reliance on these forward-looking statements, which speak only as the date hereof. Specifically, CBI cannot guarantee that the agreement executed with The Center for Functional Genomics will produce any revenues or new business prospects. CBI undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.