First Quarter Target Agreed

    GENEVA, Switzerland, Feb. 11 /PRNewswire-FirstCall/ -- Acrongenomics,
Inc. (OTCBB: AGNM), the Geneva based technology development group have
agreed with Molecular Vision and Imperial Innovations a time line for the
full acquisition of Molecular Vision. Following the initial acquisition of
10.9% of the shares of Molecular Vision announced earlier this month, it
has now been agreed by all parties that the full acquisition of Molecular
Vision will be completed before the end of Q1 2008.

    Acrongenomics is an established company that identifies and then
invests in groundbreaking technologies. In May 2006, the Company first
identified the combination of microfluidics and light responsive polymers
being developed by Molecular Vision as having the potential of completely
revolutionising the Point of Care (PoC) diagnostics market. In a simple to
use compact hand held device the analytical capabilities of a number of
standard pieces of laboratory equipment can be duplicated. This means that
a very wide range of diagnostic tests based on the same procedures that are
used in the laboratory, will now be available to be undertaken in a
physicians office, or even in the field if you were, for example, trying to
identify an outbreak of infectious disease in farm animals. This wide
utility was identified by Acrongenomics and resulted in them investing US $
4.6million in Molecular Vision in order to build a prototype of the hand
held device and undertake trials comparing the results obtained with the
device with those obtained from standard pieces of equipment routinely used
in Pathology Laboratories. The results of a comparative trial measuring
creatinine in urine will be presented comparing the Molecular Vision device
with the Siemens DCA 2000. These results have shown good correlation. A
further comparative trial measuring vitamin C is underway and various blood
based tests are being planned. Once these comparative trials are completed,
the company will then commercialise the first diagnostic panel to monitor
kidney function, followed by vitamin C monitoring.

    Dr Dimitris Goundis, CEO of Acrongenomics commented: "Molecular Vision
has an exceptional team working with a very exciting technology that we
feel will become a very significant part of the US$11bn PoC market. Because
of the compact and mobile nature of this technology, we see it as having
much wider application than we envisaged when we made the initial
investment to secure rights for kidney, cardiovascular and STD
applications. We now see this as a standard unit that will be used in the
hospital clinics, wards, operating theatres and emergency departments,
indeed wherever quick results are required for rapid intervention at one
end of the spectrum or for the convenience of the patient in the clinic or
physicians office environment at the other end. However the true
versatility of this device is such that the unit can be taken into the
field, not only to support community based health initiatives, but also in
homeland security and in the veterinary field where in situ testing for
infectious disease could take place. Having seen all these applications
open to the device it is now appropriate for us to protect our initial
investment and take total control over the rapid commercialisation of this
exceptional and versatile technology."

    Dr Ian Campbell, CEO of Molecular Vision added: "Acrongenomics is an
ideal partner to support the Company as we now have the guaranteed access
to funding that will now allow the team to concentrate solely on generating
comparative data for an increasing range of diagnostic tests. Since we
first showcased the device in March of 2007 we have been able to improve
the detection sensitivity 100-fold through a combination of optimised light
sources, light detectors and filters, all of which are assembled at low
cost, ideal for the point-of-care diagnostic market. We now need to show
unequivocally that this system generates the same data with the same degree
of accuracy as the standard laboratory based tests. This should be
relatively straightforward as the tests are basically the same, but we have
the advantage of using microfluidics making the device portable. We have
worked with the team at Acrongenomics since 2006 and it is clear that they
now understand the technology and have seen much wider markets that are
open to that technology. We can concentrate on what we are good at and
leave the corporate side to an equally expert team."

    Notes for Editors

    The global PoC testing market was estimated to be worth US$11.3 billion
in 2007 and is growing at 11% a year. PoC testing accounts for
approximately 34% of the US$33.6 billion global in-vitro diagnostic (IVD)
testing market.

    The two companies entered into a joint collaboration agreement in March
2006, to establish a highly sophisticated detection platform. In the
initial agreement Acrongenomics had exclusive rights to the use of the
product in the fields of Kidney Function, Cardiac Markers and Sexually
Transmitted Diseases.

    Molecular Vision continues to develop the technology and intellectual
property portfolio and has filed an additional four patents during the
period since the original agreement with Acrongenomics was signed.

    An initial concept was developed into a PDA powered demonstrator in
March 2007. By October 2007 the second generation device was a battery
powered, fully portable unit complete with an LCD display. Before the end
of Q1 2008 the PoC technology will be a robust standalone unit capable of
measuring creatinine and vitamin C simultaneously in urine with the same
level of accuracy and sensitivity to a pathology laboratory test using a
multi-channel device in less than 5 minutes.

    Work is underway on developing cardiac markers with preliminary data
demonstrating that myoglobin at 100ng/ml can be detected by the system
using a fluorescent immunoassay.

    Important Information About Forward-Looking Statements

    All statements in this news release that are other than statements of
historical facts are forward-looking statements which contain our current
expectations about our future results. Forward-looking statements involve
numerous risks and uncertainties. We have attempted to identify any
forward- looking statements by using words such as "anticipates",
"believes", "could", "expects", "intends", "may", "should" and other
similar expressions. Although we believe that the expectations reflected in
all of our forward looking statements are reasonable, we can give no
assurance that such expectations will prove to be correct. A number of
factors may affect our future results and may cause those results to differ
materially from those indicated in any forward-looking statements made by
us or on our behalf. Such factors include our limited operating history;
our need for significant capital to finance internal growth as well as
strategic acquisitions; our ability to attract and retain key employees and
strategic partners; our ability to achieve and maintain profitability;
fluctuations in the trading price and volume of our stock; competition from
other providers of similar products and services; and other unanticipated
future events and conditions. For further information concerning risks and
uncertainties that may affect our future results, please review the
disclosures contained in our latest filings with the SEC, including our
most recent annual report on Form 10-KSB, and subsequent quarterly reports
on Form 10-QSB. Other than as required by federal securities laws, we
undertake no obligation to publicly update or revise any of our forward-
looking statements, whether as a result of changed circumstances, new
information, future events, or for any other reason occurring after the
date of this news release.

    About Acrongenomics:

    Acrongenomics Inc. is a publicly traded company that focuses on
investing in and commercializing novel technology platforms concerning the
Life Sciences sector. Acrongenomics brings novel and realistic concepts to
market by transforming scientific innovations into tangible,
consumer-orientated applications. The company has its headquarters in
Geneva, Switzerland.

    About Molecular Vision:

    Molecular Vision is an Imperial College spin-out company that develops
low-cost diagnostic devices for use in the doctor's surgery and in the
home. Its proprietary devices combine microfluidic chips with
organic-semiconductor light-sources and photodetectors to provide
lab-quality diagnostic tests in a miniaturised, easy-to-use, disposable
format.

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