Luminos, LLC Announces Worldwide Exclusive License Agreement with University of Pittsburgh on Patented Palladium/Platinum Detection System

Business Wire, Feb 11, 2008

ANN ARBOR, Mich. -- Luminos, LLC announces the signing of an exclusive license agreement with the University of Pittsburgh to use their patented technology to develop and sell detection kits which contain a new fluorescent sensor to detect the rare metals palladium and platinum. The fluorescent molecule was developed in Professor Kazunori Koide's lab at the University's Department of Chemistry. The technology allows the end user to quantitatively detect palladium or platinum in samples simply and rapidly using the fluorescent signal generated.

Dr. Russell Hart, General Partner of Luminos, said of the license, "This technology has major applications in multiple product areas allowing for the detection of these rare metals. One major application is the quantitative detection of palladium contamination in pharmaceutical products and API's. We will develop a kit to measure the metal at the lab bench during the chemical synthetic process. In an in vitro diagnostic application, the fluorescent sensor can detect platinum containing chemotherapeutic agents, such as cisplatin, in patient serum allowing for correct therapeutic dosing. We will be evaluating a POC test for this application in the coming months. We also see applications at companies that use these 2 metals for industrial and commercial goods such as in the manufacturing of catalytic converters, jewelry and dental products."

Dr Hart also said: "We expect to have the first product using this technology on the market by late summer of 2008. We expect significant worldwide sales of these kits in multiple industrial areas, including the pharmaceutical, chemical, manufacturing, and diagnostic arenas."

About Luminos, LLC

Luminos LLC was founded in 2007 by three of the senior scientists from Assay Designs, Inc., two of whom were the founders of that company. Luminos is located in Ann Arbor, Michigan and develops novel assay kit products for the detection of important biological molecules.